Hecla To Acquire Revett Mining In $20 Mln Stock Deal - Quick Facts

(RTTNews) - Hecla Mining Company (HL) and Revett Mining Company Inc. (RVM, RVM.TO) announced they have entered into a merger agreement pursuant to which Hecla will acquire Revett. Each outstanding common share of Revett will be exchanged for 0.1622 of a common share of Hecla.

Following the merger, Hecla intends to continue to advance permitting of the Rock Creek project. Located in Northwest Montana, Rock Creek is considered one of the largest undeveloped silver and copper deposits in North America.

"We are acquiring Revett with an eye to the future, as Rock Creek is a world-class silver-copper deposit that we see becoming another Greens Creek," said Phillips Baker, Jr., Hecla's CEO.

Following the merger, Hecla expects to close and reclaim the Troy Mine and associated facilities. The mine was placed on care and maintenance in January 2015 by Revett.