K9 Gold Announces Private Placement for up to $2.25 Million, with Participation by Mr. Eric Sprott
K9 Gold Announces Private Placement for up
to $2.25 Million, with Participation by Mr. Eric
Sprott
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2021) - K9 Gold Corp. (
TSXV: KNC)
("
K9
" or
the "
Company
"), is pleased to announce a non-brokered private placement offering (the "
Private
Placement
") for aggregate gross proceeds of up to $2,250,000 in units of the Company (the "
Units
") at
a price of $0.30 per Unit. Mr. Eric Sprott has indicated his intention to subscribe for $2,000,000 into the
Private Placement.
Each Unit shall be comprised of one common share (a "
Common Share
") of the Company and one
Common Share purchase warrant of the Company (a "
Warrant
"). Each Warrant shall entitle the holder
thereof to purchase one additional Common Share at an exercise price equal to $0.40 at any time up to
36 months from closing of the Private Placement.
The Company intends to use the net proceeds from the sale of Units towards drilling and exploration on
the Stony Lake East Gold Project.
The Common Shares and the Common Shares issuable upon exercise of the Warrants to be issued
under the Offering will have a hold period of four months and one day closing of the Private Placement.
In connection with the Private Placement, the Company will pay a finder's fee in Units on the same price
and terms pursuant to the Private Placement in accordance with the policies of the TSX Venture
Exchange.
The issuance of the Units and payment of the finder's fee is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals including the approval of the TSX Venture
Exchange.
About K9
K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its Stony Lake Project,
in which K9 can earn up to a 100% interest in the project (see Company release dated July 30, 2020).
The Company also owns a 100% interest in the Desert Eagle Vanadium project located in the historic
Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium
mining and is close to Anfield Energy Inc's Shootaring Canyon mill.
To ensure a safe workplace environment that protects the health and safety of employees and
contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines
regarding COVID-19.
Chris M. Healey, P.Geo, a Director of K9 Gold Corp., is the qualified person under NI 43-101
guidelines who is responsible for the technical content of this release, and consents to its release.
Toll Free Number: (833) 434-GOLD (4653)
Kosta Tsoutsis
Director
K9 Gold Corp.
email:
Telephone: 604 808-9134
Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email:
telephone: 604 312-6910
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of
management regarding K9's intention to continue to identify potential transactions and make certain
corporate changes and applications. Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such statements are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect
managements' current views and are based on certain expectations, estimates and assumptions
which may prove to be incorrect. A number of risks and uncertainties could cause actual results to
differ materially from those expressed or implied by the forward-looking statements, including K9's
inability to identify transactions having satisfactory terms or at all and the results of exploration or
review of properties that K9 does acquire. These forward-looking statements are made as of the date
of this news release and K9 assumes no obligation to update these forward-looking statements, or to
update the reasons why actual results differed from those projected in the forward-looking statements,
except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/82878