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Klondex Mines to pay in shares for Bison Gold acquisition

Bison has now obtained the final order from the Ontario Superior Court of Justice approving the acquisition, it said
Klondex Mines to pay in shares for Bison Gold acquisition
Klondex Mines is a gold producer

Gold producer Klondex Mines Ltd (TSE:KDX, NYSE:KLDX) further updated on its acquisition of Bison Gold Resources (CVE:BGE), saying it was to pay for the deal solely in Klondex shares.

Bison has now obtained the final order from the Ontario Superior Court of Justice approving the acquisition, while shareholders  last week approved the transaction, which will be carried out via a scheme of arrangement.

Klondex will issue 0.1242 of a share in exchange for each Bison share calculated on the basis of 59 cents divided by the volume-weighted average trading price of the Klondex shares for the five days to October 16 this year, being  C$4.7489.

Following the completion of the arrangement, Bison will be delisted from the TSX Venture Exchange.

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