Klondike Gold Announces Closing of Private Placement
Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (TSX.V:KG) (“Klondike Gold” or the “Company”) is pleased to announce that the Company has closed its second tranche of its previously announced non-brokered private placement financing (the “Financing”) (see news release October 2, 2014) of 875,000 flow through shares (the “FT Shares”) at a price of $0.20 per share for proceeds of $175,000 and 933,395 non-flow through units (the “Units”) at a price of $0.18 per unit for $168,011.26. Each Unit consists of one common share and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.20 per common share until December 15, 2017. The securities issued in connection with this Financing will be subject to a statutory hold period of four months and a day which expires on April 16, 2015. Finder’s fees associated with the flow through Financing were paid in cash to Secutor Capital Management in the amount of $10,500.
The net proceeds raised through the Financing will be used, in the case of the FT Shares, to incur “Canadian exploration expenses” in respect of the Company’s Yukon properties as defined in the Income Tax Act (Canada) as well as, in the case of the Units, for exploration and development of Canadian mineral properties and for general working capital purposes.
The Company also announces that pursuant to the Company’s Stock Option Plan, a total of 2,850,000 incentive stock options have been granted to directors, officers, charities and consultants of the Company. The options are exercisable at a price of $0.12 per share for a period of 10 years, subject to regulatory approval.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company is focused on exploration and development of its Yukon gold projects located in the historic Klondike region covering 25,000 hectares of hard rock and 2,000 hectares of placer claims including the “McKinnon Creek” placer leased to “Todd Hoffman” and featured on the Discovery Channel show “Gold Rush”.
On behalf of Klondike Gold Corp.
“Peter Tallman”
President and CEO
(604) 559-4440
E-mail: info@klondikegoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/klondike12162014.pdf
Source: Klondike Gold Corp. (TSX Venture:KG)
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