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Klondike Gold raises over C$1.22 million after closing non-brokered private placing

"The funds allow the company to plan for a targeted, meaningful work program conducted under operating conditions that protects our local host community, our contractors and our employees"

Klondike Gold Corp. -
Klondike Gold said that, overall, the financing raised C$1,222,487.54

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said it has brought in over C$1.22 million after it closed a previously announced non-brokered private placing.

The Yukon-focused explorer issued over 3.4 million flow-through units at C$0.19 each for gross proceeds of $661,500.01 and over 3.2 million non-flow-through units for C$0.175 each for gross proceeds of $560,987.53. Overall, the financing raised C$1,222,487.54.

READ: Klondike Gold plans to raise up to C$1.05M in non-brokered private placement

"I would like to acknowledge and thank our North American and European shareholders as well as the company's staff and management for their continued financial support and long-term confidence," Peter Tallman, CEO of Klondike Gold said in a statement.

"The funds allow the company to plan for a targeted, meaningful work program conducted under operating conditions that protects our local host community, our contractors and our employees."

Each flow-through unit is comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one warrant exercisable at C$0.25 per share until August 23, 2022. Each non-flow-through unit consists of one share and one warrant exercisable at C$0.25 per share until August 23, 2022.

Klondike is a Vancouver-headquartered gold exploration company advancing its 100%-owned Klondike District gold project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world.

Shares in Toronto added 2.3% to C$0.22 each.

Contact the author at [email protected]

Quick facts: Klondike Gold Corp.

Price: 0.32 CAD

TSX-V:KG
Market: TSX-V
Market Cap: $38.41 m
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