Klondex to acquire Nevada's Hollister mine from Waterton
U.S. gold and silver mining company Klondex Mines Ltd (TSX: KDX) (NYSE: KLDX) has agreed to acquire the Hollister mine, the Esmeralda mine and ore milling complex, and related assets in Nevada from Waterton Global Resource Management, a Canadian private equity firm. Under the terms of the deal, expected to close later this year, Klondex will pay Waterton US$63 million in cash and an additional US$17 million via a secured note. Waterton will also be issued warrants to buy common shares of the company. Waterton acquired the Hollister mine and related assets in a court-supervised auction in mid-2013. The assets were previously owned by Great Basin Gold Ltd.
25 July 2016•8 mins read
