Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Klondex Shareholders Vote for Plan of Arrangement
July 09 2018 - 9:00AM
Klondex Mines Ltd. (TSX:KDX) (NYSE
American:KLDX) ("Klondex", the "Company", "we") is pleased to
announce that Institutional Shareholder Services, Inc. (ISS) and
Glass Lewis and Co., LLC (Glass Lewis), the two leading independent
proxy advisory firms, have both recommended that Klondex
shareholders vote in favor of the special resolution to approve the
Plan of Arrangement whereby Hecla Mining Company would acquire all
of the issued and outstanding Klondex shares. The special
resolution will be considered at the Klondex annual and special
meeting of shareholders to be held on July 12, 2018 at 8:00 EDT.
“We are very pleased with the recommendation
from both ISS and Glass Lewis, that shareholders vote in favor of
the Plan of Arrangement,” commented Mr. Paul Huet, Klondex
President and CEO.
Regarding its support for the Plan of
Arrangement, ISS stated: “A vote FOR is warranted due to the sound
rationale, positive market reaction to the announcement of the
merger, substantial premium being offered to shareholders, and the
balanced form of consideration, which includes both cash, which
provides certainty of value, as well as stock, which allows
shareholders to participate in the upside potential of the combined
company.”
Shareholders are reminded to vote their proxy
FOR the Plan of Arrangement and all related proposals before the
proxy voting deadline on July, 10 2018 at 4:00 PM EDT.
Contact:
Mike BecksteadDirector, Investor
Relations775-284-5757mbeckstead@klondexmines.com
About Klondex Mines Ltd.
(www.klondexmines.com)
Klondex is a junior-tier gold and silver mining
company focused on exploration, development, and production in a
safe, environmentally responsible, and cost-effective manner. The
Company has 100% interests in three producing mineral properties:
the Fire Creek Mine, the Midas Mine and ore milling facility, and
the Hollister Mine, all of which are located in the state of
Nevada, USA. The Company also has a 100% interest in the True North
Mine and mill in Manitoba, Canada and the Aurora Mine and ore
milling facility, located in Nevada, USA.
Cautionary Note Regarding
Forward-looking Information
This news release contains certain information
that may constitute forward-looking information or forward-looking
statements under applicable Canadian and United States securities
legislation (collectively, “forward-looking information”),
including but not limited to the timing of the transaction with
Hecla and related spin out of Klondex's Canadian assets. This
forward-looking information entails various risks and uncertainties
that are based on current expectations, and actual results may
differ materially from those contained in such information. These
uncertainties and risks include, but are not limited to, Klondex or
Hecla’s ability to complete the Plan of Arrangement and the
inability to complete the Plan of Arrangement due to failure of the
conditions of the Arrangement Agreement. Risks and uncertainties
about the Company’s business are more fully discussed in the
Company’s disclosure materials filed with the securities regulatory
authorities in Canada and United States available at www.sedar.com
and www.sec.gov, respectively. Readers are urged to read these
materials. Klondex assumes no obligation to update any
forward-looking information or to update the reasons why actual
results could differ from such information unless required by
law.
Important Additional Information and
Where to Find It
In connection with the proposed transaction with
Hecla, Klondex has filed with the SEC and mailed or otherwise
provided to its shareholders a proxy statement regarding the
proposed transaction. BEFORE MAKING ANY VOTING DECISION, KLONDEX
SHAREHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT, ANY
OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED
TRANSACTION OR INCORPORATED BY REFERENCE THEREIN, AND ANY
AMENDMENTS AND SUPPLEMENTS TO THE PROXY STATEMENT, IN THEIR
ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED
TRANSACTION. Investors and security holders may obtain a free copy
of the proxy statement and other documents that Klondex files with
the SEC (when available) from the SEC’s website at www.sec.gov and
Klondex’s website at www.klondexmines.com. In addition, the proxy
statement and other documents filed by Klondex with the SEC may be
obtained from Klondex free of charge by directing a request to Mike
Beckstead, Director, Investor Relations, Klondex Mines Ltd., 6110
Plumas Street, Suite A, Reno, Nevada, USA 89519, Phone:
775-284-5757.
Certain Participants in the
Solicitation
Klondex, its directors and certain of its
executive officers and employees may be deemed, under SEC rules, to
be participants in the solicitation of proxies from Klondex
shareholders with respect to shareholder approval of the proposed
acquisition of Klondex. Information regarding the names of
Klondex’s directors and executive officers and their respective
interests in Klondex by security holdings or otherwise is set forth
in Klondex’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2017 filed with the SEC on March 14, 2018, as amended
by Amendment No. 1 on Form 10-K/A filed by Klondex with the SEC on
April 30, 2018, and Klondex’s definitive proxy statement for its
2018 Annual and Special Meeting of Shareholders filed with the SEC
on June 12, 2018. Additional information regarding the interests of
such individuals in the proposed transaction has been included in
the proxy statement and filed with the SEC. These documents may be
obtained free of charge from the SEC’s website at www.sec.gov and
Klondex’s website at www.klondexmines.com.
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