Coeur d’Alene Mines Corporation (“Coeur”) (NYSE:CDE)(TSX:CDM) today announced that it has agreed to acquire 1,851,852 common shares (the “Shares”) of Huldra Silver Inc. (“Huldra”) (TSXV: HDA) at a purchase price of C$1.08 per Share, for total consideration of C$2 million. The Shares will be acquired pursuant to a subscription agreement as part of private placement transaction of Huldra issuing in the aggregate 2,777,777 Shares.
Prior to the acquisition of the Shares, Coeur and its affiliates and joint actors held 1,905,000 Shares and warrants to acquire an additional 1,905,000 Shares. After giving effect to the acquisition, Coeur will own and control 3,756,852 Shares, representing approximately 8.8% of the issued and outstanding Shares based on information provided to Coeur by Huldra. On a fully diluted basis, based on information provided to it, Coeur believes it will own and control 12.7% of all Shares of Huldra. The acquisition of the Shares is being made for investment purposes. Depending on the market and other conditions, Coeur may, from time to time, increase or decrease its ownership, control or direction over the Shares and/or other securities of Huldra