Klondex Mines Ltd. (TSX:KDX) has priced the previously announced private placement of special warrants at a price of C$1.37 per Special Warrant.
Klondex Mines Ltd. (TSX:KDX) has priced the previously announced private placement of special warrants at a price of C$1.37 per Special Warrant. The Company has received subscriptions for 14,200,000 Special Warrants for gross proceeds of C$19,454,000 through a syndicate of agents, led by GMP Securities L.P., and including MGI Securities Inc., Mackie Research Capital Corporation, M Partners Inc., Euro Pacific Canada Inc., Jones, Gable & Company Limited and PI Financial Corp.
As quoted in the press release:
Subject to the penalty provision described below, each Special Warrant will entitle the holder to receive upon exercise or deemed exercise following the Qualification Date (as defined below), one common share of the Company (“Common Share”) for no additional consideration. The Special Warrants not already exercised will be deemed exercised at the earlier of: (a) the third business day after the date of receipt for a final prospectus to qualify, in each of the provinces of Canada, except Quebec (the “Qualifying Provinces”), the distribution of the Common Shares to be issued upon exercise or deemed exercise of the Special Warrants (the “Qualification Date”); and (b) 4:59 p.m. (Toronto time) on the date which is four months and one day following the closing of the Offering.