Securities sold to fund exploration and development, working capital
By Wendy Van Sickle
Columbus, Ohio, May 18 – Klondike Gold Corp. said it will raise C$1.2 million in a private placement of units.
The company will sell 4 million units of one common share and one half of a common share purchase warrant at C$0.30 apiece. Each whole warrant will be exercisable at C$0.35 for 30 months.
The warrant strike price is a 25% premium to C$0.28, the May 17 closing share price.
Proceeds will be used for exploration and development of the company’s Yukon properties and for general working capital.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Klondike Gold Corp.
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| Issue: | Units of one common share and one half warrant
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| Amount: | C$1.2 million
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| Units: | 4 million
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| Price: | C$0.30
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| Warrants: | One half warrant per unit
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| Warrant expiration: | 30 months
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| Warrant strike price: | C$0.35
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| Pricing date: | May 18
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| Stock symbol: | TSX Venture: KG
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| Stock price: | C$0.28 at close on May 17
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| Market capitalization: | C$13.45 million
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