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Coeur d'Alene Mines has added a news release to its Investor Relations website. Title: Coeur d'Alene Mines Acquires Shares in Huldra Silver Inc.
Date(s): 7-Aug-2012 8:16 AM
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COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Aug. 7, 2012--
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.
The Shares will be acquired in reliance on the "accredited investor"
exemption from the prospectus and registration requirements of
applicable securities laws pursuant to National Instrument 45-106 ("NI
45-106"). Coeur is an "accredited investor" under NI 45-106.
Cautionary Statement
Certain of the statements made and information contained herein may
contain forward-looking information within the meaning of applicable
Canadian securities laws. Forward-looking information includes, but is
not limited to, information concerning Coeur's intentions with respect
to future arrangements with Huldra. Forward-looking information is based
on the views, opinions, intentions and estimates of management at the
date the information is made, and is based on a number of assumptions
and subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those anticipated or projected in the forward-looking information
(including the actions of other parties who have agreed to do certain
things and the approval of certain regulatory bodies). Many of these
assumptions are based on factors and events that are not within the
control of Coeur and there is no assurance they will prove to be
correct. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Coeur undertakes
no obligation to update forward-looking information if circumstances or
management's estimates or opinions should change except as required by
applicable securities laws, or to comment on analyses, expectations or
statements made by third parties in respect of Coeur, its financial or
operating results or its securities. The reader is cautioned not to
place undue reliance on forward-looking information.
About Coeur
Coeur d'Alene Mines Corporation is the largest U.S.-based primary silver
producer and a growing gold producer. The Company built and commenced
production from three wholly-owned, long-lived mines between 2008 and
2010: the San Bartolom� silver mine in Bolivia, the Palmarejo
silver-gold mine in Mexico and the Kensington gold mine in Alaska.
Further production has commenced from a new heap leach pad at Coeur's
long-time Rochester silver-gold mine in Nevada. The Company also owns
and operates the Martha silver-gold mine in Argentina and owns a
non-operating interest in a silver-base metal mine in Australia. Coeur
conducts ongoing exploration activities near and within its operating
properties in Argentina, Mexico, Alaska, Nevada and Bolivia. In
addition, Coeur owns strategic minority shareholdings in seven silver
and gold development companies in North and South America.
Source: Coeur d'Alene Mines Corporation
Coeur d'Alene Mines Corporation
Wendy Yang, Vice President of
Investor Relations
208-665-0345
or
Stefany Bales,
Director of Corporate Communications
208-667-8263
www.coeur.com
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