Vancouver, British Columbia (FSCwire) - Further to the news release dated August 1, 2017 Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) (“Klondike Gold” or the “Company”) is pleased to report that the Company has fully subscribed its private placement financing (the “Financing) for total gross proceeds of $5 million.
A portion of the private placement will be sold on a “flow through” basis for Canadian income tax purposes at $0.34 per unit, with the units consisting of a share and a half-warrant, with each whole warrant exercisable at $0.45 per share for two years. The non flow-through portion will consist of units at $0.29 per unit, with the units consisting of a share and a half-warrant, with each whole warrant exercisable at $0.40 per share for two years. Finders fees in cash and/or warrants may be payable in accordance with TSXV policies.
The net proceeds will be used for exploration and drilling at the Company’s Yukon property, including the Lone Star Target, and for general working capital.
The securities issued in connection with this transaction are subject to TSX Venture Exchange approval and all securities will be subject to a four month plus one day statutory hold period after closing.
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 its Yukon gold projects, accessible by government maintained roads located on the outskirts of Dawson City, YT, covering a district-scale 527 square kilometers of hard rock and 20 square kilometers of placer claims including “McKinnon Creek” featured on the Discovery Channel show “Gold Rush”.
