Hall Richard James 4
4 · Klondex Mines Unlimited Liability Co · Filed Jul 26, 2018
Insider Transaction Report
Form 4
Hall Richard James
Director
Transactions
- Disposition to Issuer
Stock Options
2018-07-20−460,000→ 0 total→ Common Shares (460,000 underlying) - Disposition to Issuer
Common Shares
2018-07-20−109,625→ 0 total - Disposition to Issuer
Deferred Share Units ("DSUs")
2018-07-20−90,090→ 0 total→ Common Shares (90,090 underlying)
Footnotes (3)
- [F1]The common shares were disposed of upon completion of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") and pursuant to an arrangement agreement dated March 16, 2018, by and among the Issuer, Hecla Mining Company ("Hecla") and 1156291 B.C. Unlimited Liability Company, a wholly-owned subsidiary of Hecla, in exchange for $92,205.59 in cash, 43,340 common shares of Hecla, having a market value of $3.220 per share on the effective date of the Arrangement (the "Effective Date"), and 13,703 common shares of Havilah Mining Corporation, a subsidiary of Hecla ("Havilah"), having a market value of $0.46 per share on the first date of trading.
- [F2]Immediately prior to the Effective Date, the outstanding "in-the-money" options were converted into common shares of the Issuer, which were then disposed of pursuant to the Arrangement for $386,906 in cash, 190,256 common shares of Hecla, having a market value of $3.220 per share on the Effective Date, and 57,500 common shares of Havilah, having a market value of $0.46 per share on the first date of trading.
- [F3]Each DSU represented a contingent right to receive the economic equivalent of one common share of the Issuer, payable in cash. The DSUs were cancelled pursuant to the Arrangement in exchange for a cash payment of $2.36 per DSU.