TORONTO, March 5, 2012 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 5,636,284 common shares and 386,400 common share purchase warrants (the "Warrants") to purchase up to 386,400 common shares of Klondex Mines Ltd. ("KDX") at an exercise price of $3.50 per share. The Warrants expire on November 29th, 2013. As a result of the acquisition of such Shares and Warrants and assuming the exercise of the Warrants in full, the Partnership would own 6,022,684 common shares, representing approximately 12.87% of the issued and outstanding common shares of Klondex Mines Ltd. (the "Common Shares").
K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of KDX through market transactions, private agreements or otherwise.
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The K2 Principal Fund L.P.