Klondike Gold Closes Oversubscribed Private Placement Raising $970,736
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
May 21, 2024
Vancouver, BC
Klondike Gold Closes Oversubscribed Private Placement
Raising $970,736
Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTC: KDKGF) (“ Klondike Gold” or the “Company”)
is pleased to announce that further to its news release of May 14, 2024, the Company has closed
its oversubscribed non-brokered private placement financing, raising $970,736.85 (the “Private
Placement”).
In closing the Private Placement, the Company issued an aggregate of 10,785,965 units (each, a
“Unit”) at a price of $0.09 per unit consisting of 10,785,965 common shares and 10,785,965 share
purchase warrants (each, a “Warrant”).
All warrants are exercisable at a price of $0.15 per share for one common share in the capital of
the Company for a period of two (2) years from the date of the issuance, expiring May 17, 2026.
The Company also paid an aggregate of cash finder’s fees $8,640 and issued 96,000 finder ’s
warrants (the “ Finders Warrants”), of which Haywood Securities Inc. was paid $540 and was
issued 6,000 Finders Warrants and Canaccord Genuity Corp. was paid $ 8,100 and was issued
90,000 Finder ’s Warrants. Eac h Finder’s Warrant entitles the holder thereof to purchase one
common share of the Company (a " Finder's Warrant Share ") at a price of $0.15 per Finder' s
Warrant Share until May 17, 2026.
All securities issued in connection with the Private Placement are subject to a four month and
one day statutory hold period expiring on September 18, 2024, in accordance with applicable
securities laws and the policies of the TSX Venture Exchange.
The Company intends to use the proceeds from the fi nancing to fund ongoing and future
exploration and drill programs and general working capital at the Company ’s 100% owned
Klondike District Property (the “Property”) in the Dawson mining district, Yukon, Canada.
Three insiders of the Company participated in the Private Placement and acquired an aggregate
of 3,613,888 Units. The purchases by these insiders constitute “related party transactions” within
the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
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Transactions (“MI 61-101”). The issuances are exempt from the formal valuation and minority
shareholder approval requirements of MI 61 -101 as they are distributions of securities for cash
and the fair market value of the Units issued to, and the consideration paid by, the insider did not
exceed 25% of the Company ’s market capitalization. No new insiders were created, nor any
change of control occurred, as a result of closing the Frist Tranche of the private placement.
The securities have not been, and will not be, registered under the United States Securities Act
of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be
offered or sold in the United States without registration under the U.S. Securities Act and all
applicable state securities laws or compliance with the requirements of an applicable exemption
therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to
buy securities in the United States, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
UPCOMING EVENTS
Klondike Gold will be participating in the following upcoming events:
• June 21 – 26: Invest Yukon Investment Conference/Property Tour (Dawson, YT)
• July 19 – 21: CEM TSX Venture Growth Conference (Kelowna, BC)
• August 12 – 16: Klondike Investment Conference/Property Tour (Dawson, YT)
• November 22 – 24: CEM Florida Capital Event (Miami, FL)
ABOUT KLONDIKE GOLD CORP.
Klondike Gold is a Vancouver based gold exploration company advancing its 100% -owned
Klondike District Gold Project located at Dawson City, Yukon, one of the top mining juris dictions
in the world. The Klondike District Gold Project targets gold associated with district scale orogenic
faults along the 55 -km length of the famous Klondike Goldfields placer district. Multi-km gold
mineralization has been identified at both the Lone Star Zone and Stander Zone, among other
targets. The Company has identified a Mineral Resource Estimate of 469,000 Indicated and
112,000 Inferred gold ounces1, a milestone first for the Klondike District. The Company is focused
on exploration and develop ment of its 727 square km property accessible by scheduled airline
and government-maintained roads located on the outskirts of Dawson City, Yukon, within the
Tr’ondëk Hwëch’in First Nation traditional territory.
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1 The Mineral Resource Estimate for the Klondike District Property was prepared by Marc Jutras,
P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance
with the requirements of NI 43 -101. The technical report supporti ng the Mineral Resource
Estimate entitled “NI 43 -101 Technical Report on the Klondike District Gold Project, Yukon
Territory, Canada” has been filed on SEDAR+ at www.sedarplus.ca effective November 10, 2022.
Refer to news release of December 16, 2022.
ON BEHALF OF KLONDIKE GOLD CORP.
“Peter Tallman”
Peter Tallman,
President and CEO
FOR FURTHER INFORMATION:
Telephone: (604) 609-6138
E-mail: [email protected]
Website: www.klondikegoldcorp.com
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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.
Certain statements contained in this news release constitute “forward -looking statements”.
When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”,
“planned”, and similar expressions are i ntended to identify forward- looking statements or
information. These statements are based on current expectations of management, however, they
are subject to known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from the forward-looking statements in this news release. Readers are
cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any
obligation to revise or update any forward- looking statements as a result of new information,
future events or otherwise after the date hereof, except as required by securities laws.