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Klondex Mines Ltd. (TSX:KDX, OTCQX:KLNDF) announced that they have secured bridge loan financing totalling $2.39 million.
As quoted in the press release:
Its subsidiary, Klondex Gold & Silver Mining Company , has obtained and drawn down on a bridge loan facility of $1,999,999 advanced by the K2 Principal Fund L.P. , a significant shareholder of the Company, and on a bridge loan facility of $400,000 advanced by a third party.
Klondex’s President and CEO, Paul Huet, said:
We are grateful for the continued support of our significant shareholders as we continue to develop the Fire Creek project.” He continued, “The bridge loans not only enable us to meet our financial requirements, but also to enhance our exploration and development program at the Fire Creek project. Monetizing the high-grade material remains our number one priority and we intend to repay the loan with the funds we expect to generate from Fire Creek, by November 2013.
To view the whole press release, click here.
Click here to see the Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) profile.