Intl Northair Mines Ltd INNHF

NR - Kootenay closes the $2 mlllion PP with Pan American

[production05]

Also:

``Concurrent with, and as part of the conditions to, closing of the Private Placement:

• Pan American's wholly owned subsidiary Compania Minera Dolores S.A. de C.V. ("Dolores") has paid to Kootenay's wholly owned subsidiary Minera JM, S.A. de C.V. ("Minera") a payment of US$250,000 (plus applicable Mexican taxes) pursuant to the Option Agreement dated February 15, 2016 entered into among Kootenay, Pan American, Minera, and Dolores (the "Option Agreement"); and
• Pan American, Dolores, and Minera have entered into a property purchase option agreement pursuant to which Dolores has provided Minera with an option to acquire up to two of its exploration properties inMexico in return for a 2.5% net smelter return royalty on each of the acquired properties.``

https://www.newswire.ca/news-releases/kootenay-announces-closing-of-cdn2000000-private-placement-by-pan-american-silver-571037341.html