Kootenay and Northair Sign Definitive Agreement for Acquisition

Kootenay Silver Inc. (TSXV:KTN) and Northair Silver Corp. (TSXV:INM) announced that they’ve entered into a definitive agreement under which Kootenay will acquire all of Northair’s issued and outstanding shares.
As quoted in the press release:

The Agreement replaces the binding letter agreement previously announced on January 13, 2016. Pursuant to the Agreement, Northair shareholders will receive, for each common share of Northair held, 0.35 common shares of Kootenay, plus 0.15 of a tradable warrant to purchase Kootenay common shares at an exercise price of $0.55 for a period of five years from closing.  Upon completion of the Transaction, Northair will become a wholly-owned subsidiary of Kootenay, and former shareholders of Northair will hold approximately 40% of the shares of Kootenay on an outstanding shares basis.
The Transaction will be implemented by way of plan of arrangement (the “Arrangement“) under the Business Corporations Act (British Columbia). The Arrangement will require approval of at least two-thirds of the votes cast by Northair shareholders and option-holders voting together as a single class at a special meeting of Northair. Lock-up agreements in support of the Transaction have been signed by holders representing approximately 12.1% of the Northair securities entitled to vote to approve the Transaction.

Click here to read the full Kootenay Silver Inc. (TSXV:KTN) and Northair Silver Corp. (TSXV:INM) press release.