Kootenay Announces Closing of CDN$2,000,000 Private Placement by Pan American Silver

Kootenay Silver (TSXV:KTN) announced that it has closed the private placement transaction with Pan American Silver Corp., previously announced and described in Kootenay’s news releases dated February 16, 2016 and February 26, 2016, pursuant to which Pan American has subscribed for 9,090,909 Kootenay shares at a price of CDN$0.22 per Kootenay share for an aggregate subscription price of CDN$2,000,000.
Kootenay President and CEO, James McDonald, stated:

The Option Agreement represents a significant milestone in the development of La Negra that creates a pathway to fulfilling our goal to advance the project towards production and to further explore key prospective areas within the Promontorio Mineral Belt.  As a world leading silver producer, Pan American brings to Kootenay an unparalleled track record in silver exploration and mine development.  This expertise is a major benefit to Kootenay shareholders and will undoubtedly play a vital role in our future success.  The Pan American option leverages Kootenay’s considerable investment in the project to date.  We believe that working together, Kootenay and Pan American have the capability to fully exploit the upside potential of these emerging assets.

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