Kootenay Silver Reports Northair Silver and Pan American Silver Transactions Advancing

Kootenay Silver Inc. (TSXV:KTN) is pleased to announce that its acquisition of Northair Silver Corp. (TSXV:INM) (“Northair”) announced on January 13, 2016, is advancing to closing as anticipated by Kootenay’s management.  Kootenay expects that Northair shareholders will be provided with the Northair information circular in respect of the Northair transaction in mid-March with the Northair shareholder meeting being scheduled for April 14, 2016.  Closing of the Northair transaction is expected to occur on or about April 20, 2016.
As quoted in the press release:

In addition, Kootenay expects that Pan American Silver Corp.’s (TSX: PAA, NASDAQ: PAAS) (“Pan American“) private placement investment in Kootenay of CDN$2,000,000 for an aggregate of 9,090,909 Kootenay shares at a price ofCDN$0.22 per Kootenay share (the “Subscription Price“), as announced on February 16, 2016 (the “First Tranche Investment“), is expected to close in the first half of March.  In addition to the First Tranche Investment, as part of the transaction with Pan American, Pan American has the right to subscribe for additional Kootenay shares at the Subscription Price in order to retain up to a 10% ownership interest in Kootenay, calculated subsequent to the closing of the Kootenay-Northair transaction (the “Second Tranche Investment“).  If the Second Tranche Investment option is exercised, Pan American would subscribe for up to 5,765,410 additional Kootenay shares at the Subscription Price for aggregate proceeds of up to CDN$1,268,390.

Kootenay President and CEO, James McDonald, stated:

This is an exciting time for Kootenay and Northair shareholders. The Kootenay-Northair transaction alongside the concurrent financing and option arrangement with Pan American, announced on February 16, 2016, puts us in a strong position to build on our consolidation platform and to advance both the La Negra and La Cigarra assets.  I look forward to updating both the Kootenay shareholders and Northair shareholders as we continue to grow.