March 19, 2018 / 7:11 AM / 4 months ago

BRIEF-Hecla to buy Klondex Mines Ltd for $462 mln

March 19 (Reuters) - Klondex Mines Ltd:

* HECLA TO ACQUIRE THREE HIGH-GRADE NEVADA GOLD MINES WITH THE ACQUISITION OF KLONDEX MINES LTD.

* HECLA WILL ACQUIRE KLONDEX FOR CONSIDERATION OF US$462 MILLION WITH A MIX OF CASH AND SHARES OF HECLA COMMON STOCK​

* ‍KLONDEX'S CANADIAN ASSETS WILL BE SPUN OUT TO ITS EXISTING SHAREHOLDERS​

* ‍HECLA WILL BUY ALL OUTSTANDING SHARES OF KLONDEX, THROUGH A PLAN OF ARRANGEMENT​

* ‍KLONDEX'S SHAREHOLDERS WILL RECEIVE US$2.47 PER SHARE IN CASH OR SHARES OF HECLA​

* ‍TRANSACTION IS STRUCTURED TO MINIMIZE DILUTION AND IS EXPECTED TO BE ACCRETIVE ON MOST IMPORTANT FINANCIAL AND OPERATING METRICS​

* ‍CERTAIN MEMBERS OF KLONDEX'S BOARD AND MANAGEMENT TEAM WILL CONTINUE ON AT KLONDEX CANADA​

* ‍HECLA WILL SUBSCRIBE FOR $7.0 MILLION OF COMMON SHARES OF NEW KLONDEX IN EXCHANGE FOR A 13.46% EQUITY INTEREST Source text for Eikon: Further company coverage:

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