Hecla Increases Holdings in Dolly Varden Silver Corporation
October 02 2018 - 8:30AM
Business Wire
Hecla Mining Company (NYSE:HL) (“Hecla”) announced today that a
wholly-owned subsidiary of Hecla exercised warrants to acquire
1,250,000 common shares (“Shares”) of Dolly Varden Silver
Corporation (“Dolly Varden”).
The warrants entitled Hecla Canada Ltd. (“Hecla Canada”) to
acquire 1,250,000 Shares at a price of C$0.30 each. As a
consequence, Hecla, through Hecla Canada, now controls or is deemed
to control, 6,807,626 common shares of Dolly Varden, or
approximately 11.87% of the Shares. Hecla no longer owns or
controls any securities convertible into Shares.
The Shares will be acquired for investment purposes by Hecla.
Hecla does not have any present intention to acquire ownership of,
or control over, additional securities of Dolly Varden. It is the
intention of Hecla to evaluate its investment in Dolly Varden on a
continuing basis and such holdings may be increased or decreased in
the future.
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE:HL) is a leading
low-cost U.S. silver producer with operating mines in Alaska, Idaho
and Mexico, and is a growing gold producer with operating mines in
Quebec and Nevada. The Company also has exploration and
pre-development properties in eight world-class silver and gold
mining districts in the U.S., Canada, and Mexico.
Cautionary Statements Regarding Forward Looking
Statements
Statements made or information provided in this news release
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and "forward-looking information" within the meaning of
Canadian securities laws. Words such as “may”, “will”, “should”,
“expects”, “intends”, “projects”, “believes”, “estimates”,
“targets”, “anticipates” and similar expressions are used to
identify these forward-looking statements. Such forward-looking
statements or forward-looking information include statements or
information regarding estimates of silver production for 2018 on a
consolidated basis and at each of the Greens Creek, Lucky Friday
and San Sebastian mines, annual gold production for 2018 at Casa
Berardi, and second quarter 2018 production. Such forward-looking
statements or forward-looking information include statements or
information regarding estimates of gold production, revenue, EBITDA
and mine life for Fire Creek, Midas and Hollister, as well as
statements concerning the combined company’s cash flow and
probability. The material factors or assumptions used to develop
such forward-looking statements or forward-looking information
include that the Company’s plans for development and production
will proceed as expected and will not require revision as a result
of risks or uncertainties, whether known, unknown or unanticipated,
to which the Company’s operations are subject.
Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected or implied. These risks
and uncertainties include, but are not limited to, metals price
volatility, volatility of metals production and costs, litigation,
regulatory and environmental risks, operating risks, project
development risks, political risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the Company's
Form 10K and 10-Q reports for a more detailed discussion of
factors that may impact expected future results. The Company
undertakes no obligation and has no intention of updating
forward-looking statements other than as may be required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181002005314/en/
Hecla Mining CompanyInvestor RelationsMike Westerlund,
800-HECLA91 (800-432-5291)Vice President - Investor
Relationshmc-info@hecla-mining.comwww.hecla-mining.com
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