Securities sold to fund exploration and development, working capital
By Devika Patel
Knoxville, Tenn., Sept. 13 – Klondike Gold Corp. said raised C$1.12 million in a non-brokered private placement of units. The deal priced for C$1 million on Aug. 19.
The company sold 2,883,335 flow-through units of one flow-through common share and one half-share warrant at C$0.30 per unit and 840,001 units of one common share and one half-share warrant at C$0.30 per unit. Each warrant is exercisable at C$0.35 for 30 months.
The strike price is a 16.67% premium to C$0.30, the Aug. 18 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.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$1,117,000
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 19
|
| Stock symbol: | TSX Venture: KG
|
| Stock price: | C$0.30 at close Aug. 18
|
| Market capitalization: | C$13.33 million
|
|
|
| Units
|
| Amount: | C$252,000
|
| Units: | 840,001
|
|
|
| Flow-through units
|
| Amount: | C$865,000
|
| Units: | 2,883,335
|
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