Mr. Peter Tallman reports
KLONDIKE CLOSES $3,516,726 PRIVATE PLACEMENT
Further to its news release of Oct. 25, 2021, Klondike Gold Corp. has closed the second tranche of the non-brokered private placement raising total aggregate proceeds of $3,516,726.55 of which $2,395,000 are flow-through funds.
The second tranche
In closing the second tranche, the company issued 2.3 million flow-through units at the price of 20 cents per unit, comprising 2.3 million common shares which are flow-through shares for Canadian income tax purposes and 1.15 million warrants. The company further issued 4,650,716 non-flow-through units at a price of 17.5 cents per unit, comprising 4,650,716 common shares and 2,325,358 warrants.
In connection with the completion of the financing, the company paid finders' fees totalling $129,832.58 and has issued 661,329 warrants.
All warrants issued in the second tranche and the compensation warrants are exercisable at a price of 25 cents per share until Nov. 17, 2023.
All securities issued in connection with the second tranche and the compensation warrants are subject to TSX Venture Exchange approval and all securities will be subject to a four-month-and-one-day statutory hold period expiring on March 18, 2022.
The company intends to use the proceeds from the private placement to continue exploration and development of the company's Yukon properties, as well as for general working capital.
Peter Tallman, president and chief executive officer of Klondike Gold, stated: "I would like to acknowledge and thank the company's shareholders for their continued financial support and long-term confidence. The company is well funded for its operations through 2022."
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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