Klondike Gold completes $1.86 million private placement financing

Klondike Gold Corp. (TSXV: KG) closed a non-brokered private placement financing that raised $1,857,508, with $130,008 designated as flow-through funds, the company announced.

The Vancouver-based gold exploration company issued 1,083,400 flow-through shares at $0.12 per share and 17,275,000 units priced at $0.10 each. Each unit includes one common share and one warrant exercisable at $0.12 per share until September 12, 2027.

Three company insiders participated in the placement, acquiring 703,400 flow-through shares and 1,000,000 units. The insider transactions qualified as related party transactions under securities regulations but were exempt from formal valuation and minority shareholder approval requirements.

All securities from the placement are subject to a statutory hold period ending January 13, 2026, according to TSX Venture Exchange policies and securities laws.

Klondike Gold plans to use the proceeds for continued exploration and development of its Yukon properties and general working capital. The company operates a 727 square kilometer gold project in the Klondike District near Dawson City, Yukon.

The company reported a mineral resource estimate of 469,000 indicated and 112,000 inferred gold ounces for the Klondike District property, based on a technical report filed in November 2022.

You May Also Be Interested In

• SpaceX (SPCX) gains nearly 6% as traders follow the money
• Toll Brothers (TOL) call put ratio 2 calls to 1 put with a focus on September and January 175 calls
• China e-commerce sees 3% growth in July, recovery expected Macquarie says