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Klondike Gold plans to raise up to C$1.05M in non-brokered private placement

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Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) announced Tuesday that it plans to raise up to C$1,050,000 in non-flow-through funds and flow-through by way of a non-brokered private placement.

In a statement, the company said it intends to use the proceeds from the offering to continue the exploration and development of its Yukon properties, as well as for general working capital.

The non-flow-through placement will consist of the sale of units priced at C$0.175 per unit, with each unit consisting of one common share and one-transferable share purchase warrant.

READ: Ximen Mining buys more ground near its Kenville gold mine project

The flow-through placement will consist of the sale of flow-through units at a price of C$0.19 per flow-through unit with each unit consisting of one common share of the company, which is a “flow-through” share for Canadian income tax purposes, and one-transferrable common share purchase warrant.

Each warrant will entitle the holder to purchase one common share at a price of C$0.25 per common share for a period of two years from closing.

The securities issued in connection with this transaction are subject to TSX Venture Exchange approval and all securities will be subject to a four-month statutory hold period after closing.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Story by ProactiveInvestors


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