Mr. Peter Tallman reports
KLONDIKE GOLD CLOSES FIRST TRANCHE RAISING $2,242,851
Further to its news release of Sept. 30, 2021, Klondike Gold Corp. has closed the first tranche of its non-brokered private placement financing, raising $2,242,851.25 of which $1,935,000 is flow-through funds. The company anticipates to close the balance of the financing in the coming weeks.
In closing the first tranche, the company issued 9,675,000 flow-through units at the price of 20 cents per unit, comprising 9,675,000 common shares which are flow-through shares for Canadian income tax purposes and 4,837,500 warrants. The company further issued 1,759,150 non-flow-through units at a price of 17.5 cents per unit, comprising 1,759,150 common shares and 879,575 warrants.
All warrants issued in the first tranche of the financing are exercisable at a price of 25 cents per share until Oct. 22, 2023.
All securities issued in connection with the first tranche are subject to a four-month-and-one-day statutory hold period expiring on Feb. 23, 2022, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
The company intends to use the proceeds from the financing to continue exploration and development of the company's Yukon properties, as well as for general working capital.
About Klondike Gold Corp.
Klondike Gold is a Vancouver-based gold exploration company advancing its 100-per-cent-owned Klondike District gold project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District gold project targets gold associated with district scale orogenic faults along the 55-kilometre length of the famous Klondike Goldfields placer district. To date, multikilometre gold mineralization has been identified at both the Lone Star zone and Stander zone, among other targets. The company is focused on exploration and development of its 586-square-kilometre property accessible by scheduled airline- and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondek Hwech'in First Nation traditional territory.
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