Klondike Silver Corp. Private Placement Receives Conditional Approval
Vancouver, March 1, 2021 - Klondike Silver Corp. (the "Company") (TSXV:KS) is pleased to announce that it has received conditional approval from the TSX Venture Exchange for the fully committed non-brokered private placement announced February 24, 2021. The private placement will raise gross proceeds of $1,120,600 through the issue of 8,620,000 shares at a price of $0.13 per share. All shares will be subject to a four-month hold period from the date of issuance. Commissions will be paid on the funds raised. The closing of the private placement is subject to completion of formal documentation and the approval of the TSX Venture Exchange.
The net proceeds will be used for advancing Klondike's Sandon B.C. Silver Zinc Lead project, and for general working capital.
About Klondike Silver
Klondike's Silvana Mine Silver Zinc Lead project is located in South Eastern B.C., 138 km north of the Trail B.C. smelter. The Company is exploring the western extension of the Silvana Mine, along the "Main Lode". The "Main Lode" is a 9 km vein structure which is the most prolific mineralized structure in the Slocan Mining Camp. There are 13 historical mines that are situated along the 9 km vein structure which have produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far. Including 8 of the 13 above there are 68 historical mines that are situated in the Klondike Silver 116 square kilometer claim block which have produced 1,258,000 kg of silver, 72 million kg of zinc and 158 million kg lead so far. (source: BC MINFILE).
Additional information can be found on the Company website: www.klondikesilver.com
On Behalf of the Board of Directors
"Thomas Kennedy"
Thomas Kennedy, B.Comm., J.D., CEO, Director
Contact Information
Klondike Silver Corp.
Corporate Inquiries:
Dale Dobson: (604) 682-2928
Email:dale.dobson@klondikesilver.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.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
