Klondike Gold raises over C$2.24 million to advance its Yukon properties after closing second tranche of financing

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said it had raised a total of over C$2.24 million after closing the second tranche of a placing and proceeds will be used to continue exploring at the group’s Yukon properties.

In the second tranche, the firm issued 750,000 non-flow-through units at C$0.20 each for gross proceeds of C$150,000.

READ: Klondike Gold kicks off 2019 drill program in Yukon

Each non flow-through unit consists of one share and one warrant exercisable at C$0.35 per share until May 22, 2022.

In total in the financing, more than 7.7 million flow-through units at $0.22 each for  gross proceeds of more than C$1.7 million and 2.66 million non-flow though units at $0.20 each for gross proceeds of C$532,000 were issued in two tranches.

Klondike is focused on developing its Lone Star Gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 563 sq km property, which is accessible by road and lies on the outskirts of Dawson City, within the Tr’ondëk Hwëch’in First Nation traditional territory.

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Story by ProactiveInvestors