Coeur d'Alene Mines buys shares in Huldra Silver

Gold  |  2012-08-08 03:02:24   |   By

Coeur d'Alene Mines Corp. (NYSE:CDE)(TSX:CDM) has agreed to acquire 1,851,852 common shares of Huldra Silver Inc. (TSXV: HDA) at a price of C$1.08 per share, or a total of C$2 million.

VANCOUVER (Scrap Monster): Coeur d'Alene Mines Corp. (NYSE:CDE)(TSX:CDM) has agreed to acquire 1,851,852 common shares of Huldra Silver Inc. (TSXV: HDA) at a price of C$1.08 per share, or a total of C$2 million.

The shares will be acquired under a subscription agreement as part of private placement transaction of Huldra issuing 2,777,777 shares. Prior to the acquisition, Coeur and its affiliates and joint actors held 1,905,000 shares and warrants to acquire an additional 1,905,000 shares.

After the acquisition, Coeur says it will own and control 3,756,852 shares, representing approximately 8.8% of the issued and outstanding shares, based on data provided to Coeur by Huldra. The acquisition of the shares is being made for investment purposes, the company added.

Coeur d'Alene Mines is the largest U.S.-based primary silver producer and a growing gold producer. Huldra is exploring and developing its wholly owned group of mineral tenures at Treasure Mountain in British Columbia.