Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) (“Klondike Gold” or the “Company”) is pleased to report that the Company has closed the first tranche of its non-brokered private placement financing (the “Financing") originally announced August 1, 2017 for gross proceeds of $2,889,960 in combination of flow-through funds and non-flow-through funds.
Financing:
The Company has issued 3,618,774 flow-through units (each a “FT Unit”) at the price of $0.34 and 5,722,680 non-flow-through units (each a “Unit”) at a price of $0.29 per unit for gross proceeds of $2,889,960. Each FT Unit is comprised of one common share which is a “flow-through” share for Canadian income tax purposes and a half-warrant, with each whole warrant exercisable at $0.45 per share until August 23, 2019. Each Unit is comprised of one common share and a half-warrant, with each whole warrant exercisable at $0.40 per share until August 23, 2019. Finder’s fees of a total of $144,733 cash and 390,739 warrants having an exercise price of $0.34 per share for a period of two years has been paid in connection with the private placement in accordance with the policies of the TSXV. The securities issued in connection with this Financing will be subject to a statutory hold period which expires on December 24, 2017.
The net proceeds of the funds raised through the Financing will be used for exploration and development of Canadian mineral properties and for general working capital purposes.
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 the Lone Star gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 527 square kilometer property accessible by government maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.
