NR: Exercise of WarrantsNovember 25, 2014
Klondex Mines Receives $10.3 Million from the Exercise of Warrants
Vancouver, BC -- November 25, 2014 - Klondex Mines Ltd. ("Klondex" or the "Company") (TSX: KDX; OTCQX: KLNDF) is pleased to announce that in October and November 2014, an aggregate of 5,859,177 common share purchase warrants (the "Warrants") were exercised at a price of $1.75 per common share for aggregate proceeds of $10.3 million. A total of 8,492,023 Warrants (not inclusive of broker warrants) were issued on November 20, 2012 in connection with an equity financing completed by Klondex which expired on November 20, 2014. In aggregate, of 7,525,560 common shares were issued in connection with the exercise of the Warrants for total proceeds of $13.2 million, inclusive of the $10.3 million noted above.
"We'd like to thank our shareholders their continued support in Klondex," commented Paul Andre Huet, President and CEO of Klondex.
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex is focused on the exploration, development and production of its two high quality gold and silver projects in the mining-friendly jurisdiction of north central Nevada. The 1,200 tons per day milling facility is processing mineralized materials from the Midas Mine and the Fire Creek Project. Midas is fully-permitted and has been in operations since 1998. Fire Creek is located approximately 100 miles south of Midas and is operating an ongoing bulk sampling program that began in 2013. All major infrastructure is in place at Fire Creek.
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