Private Placement Tranche Closing and Extension

2020-09-09 / @thenewswire

(TheNewswire)

Vancouver, Canada – TheNewswie - September 9, 2020 – Klondike Silver Corp. (the “Company”) (TSXV:KS) (OTC:KLSVF) further to the July 30 news release announcing a non-brokered private placement the exchange has granted an extension to October 14, 2020. A first tranche is closing raising gross proceeds of $516,000 through the issuance of 10,320,000 units (“Unit”) at a price of $0.05 per each Unit. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.10 per share for a period of 30 months from the date of closing.

The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder’s fees will be payable in connection with the private placements, all in accordance with the policies of the TSX Venture Exchange. The net proceeds will be used for advancing Klondike’s Sandon B.C. Silver Zinc Lead project (drifting and drilling the main vein structure), 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 actively exploring from underground, 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 has produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far (source: BC MINFILE).

Additional information can be found on the Company website: www.klondikesilver.com

-------------------------------------------------------------------- |On Behalf of the |Contact Information | |Board of | | |Directors | | |------------------------------------------------------------------| |Klondike Silver Corp. |Corporate Inquiries: | | | | | | | |------------------------------------------------------------------| |"Thomas Kennedy" |Dale Dobson: (604) 682-2928 | |------------------------------------------------------------------| |Thomas Kennedy, B.Comm., J.D.|Email:dale.dobson@klondikesilver.com| |------------------------------------------------------------------| |CEO, Director | | | | | --------------------------------------------------------------------

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.