it appears klondex is trying to place a block of shares in friendly hands to ward off silvercorp's takeover bid:

Klondex said its directors and officers will neither accept the Silvercorp offer nor tender their shares to the Silvercorp offer. Klondex's management exercise control over almost 20 percent of the company's shares on a fully diluted basis. The Klondex board said Silvercorp's offer significantly undervalues Klondex's assets. The company also said it was pursuing alternative transactions. The company also said it has completed a private placement of 1.7 million shares of common stock at C$1.75 per share to China Mineral United Management Ltd. The placement will yield gross proceeds of C$3.0 million.

http://www.reuters.com/article/marketsNews/idAFN3043144920090630?rpc=44