Kootenay Silver Completes Business Combination With Northair Silver


VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 21, 2016) – Kootenay Silver Inc. (TSX VENTURE:KTN) (“Kootenay“) and Northair Silver Corp. (TSX VENTURE:INM) (“Northair“) are pleased to announce that they have completed the previously announced business combination by which Kootenay has acquired 100% of the issued and outstanding shares of Northair by way of a court approved plan of arrangement.

Under the terms of the business combination, each Northair shareholder is entitled to receive 0.35 of a common share of Kootenay, plus 0.15 of a common share purchase warrant of Kootenay. Each whole warrant (a “Kootenay Consideration Warrant”) entitles the holder to purchase a common share of Kootenay at an exercise price of $0.55 for a period of five years from closing. It is expected that the Northair shares will be de-listed from the TSX Venture Exchange on April 21, 2016. The Kootenay Consideration Warrants are currently expected to be listed for trading on the TSX Venture Exchange for market open on Friday, April 22, 2016. Any changes to the aforementioned dates will be disclosed on a timely basis. It is anticipated that Kootenay will shortly apply to cause Northair to cease being a reporting issuer under applicable Canadian securities laws.


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