Klondike Gold Closes First Tranche of Private Placement
Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) (“Klondike Gold” or the “Company”) is pleased to report that the Company has closed the first tranche of its non-brokered private placement financing (the “Financing") originally announced August 1, 2017 for gross proceeds of $2,889,960 in combination of flow-through funds and non-flow-through funds.
Financing:
The Company has issued 3,618,774 flow-through units (each a “FT Unit”) at the price of $0.34 and 5,722,680 non-flow-through units (each a “Unit”) at a price of $0.29 per unit for gross proceeds of $2,889,960. Each FT Unit is comprised of one common share which is a “flow-through” share for Canadian income tax purposes and a half-warrant, with each whole warrant exercisable at $0.45 per share until August 23, 2019. Each Unit is comprised of one common share and a half-warrant, with each whole warrant exercisable at $0.40 per share until August 23, 2019. Finder’s fees of a total of $144,733 cash and 390,739 warrants having an exercise price of $0.34 per share for a period of two years has been paid in connection with the private placement in accordance with the policies of the TSXV. The securities issued in connection with this Financing will be subject to a statutory hold period which expires on December 24, 2017.
The net proceeds of the funds raised through the Financing will be used for exploration and development of Canadian mineral properties and for general working capital purposes.
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 the Lone Star gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 527 square kilometer property accessible by government maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.
On behalf of Klondike Gold Corp.
“Peter Tallman”
President and CEO
(604) 609-6110
E-mail: info@klondikegoldcorp.com
Website: www.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/klondikegold08232017.pdf
Source: Klondike Gold Corp. (TSX Venture:KG)
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