Klondex Mines To Seek Written Shareholder Approval for Midas Financing

Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) will be seeking shareholder approval for the Offerings together with the issuance of 5,000,000 common share purchase warrants to Newmont Mining Corporation in connection with the Midas Acquisition.

As quoted in the press release:

Shareholder approval of the Issuances is required pursuant to the rules of the TSX as the Issuances will result in the issuance of common shares of the Company (“Common Shares”) in excess of 25% of the number of outstanding Common Shares. In addition, as the total number of Common Shares to be issued to insiders of the Company pursuant to the Offerings and previous private placements within the last six months represents more than 10% of the outstanding Common Shares, the TSX requires that the shareholder approval of the Offerings exclude the insiders of the Company participating in the Offerings. The Company advises that, in accordance with Section 604(d) of the TSX Company Manual, the Company will be seeking to obtain the requisite shareholder approval of the Issuances by way of written consents.

Click here to read the Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) press release
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