Kirkland Lake Discoveries Announces Upsized Private Placement
Kirkland Lake Discoveries Announces Upsized
Private Placement
Toronto, Ontario--(Newsfile Corp. - October 3, 2025) -
Kirkland Lake Discoveries Corp. (TSXV:
KLDC)
("
Kirkland
" or the "
Company
") announces that it has increased the size of its previously
announced private placement pursuant to which it will now offer units ("
Units
"), premium flow-through
units ("
Premium Units
") and flow-through shares ("
FT Shares
") to raise gross proceeds of up to C$14
million (the "
Offering
").
The upsized Offering will now consist of the issuance of Premium Units at a price of C$0.37 per
Premium Unit, Units at a price of $0.25 per Unit and FT Shares at a price of $0.30 per FT Share, in any
combination to raise aggregate gross proceeds of up to $14 million. Each Unit shall consist of one
common share of the Company and one-half of one share purchase warrant, with each whole share
purchase warrant entitling the holder thereof to acquire one additional common share of the Company
(which shall not be a "flow-through" share)
at an exercise price of C$0.40 for a period of 36 months from
the date of issuance.
Each Premium Unit shall consist of one common share of the Company (a "
Unit
FT Share
") and one-half of one share purchase warrant, with each whole share purchase warrant (a "
FT
Warrant
") entitling the holder thereof to acquire one additional common share of the Company (which
shall not be a "flow-through" share) at an exercise price of C$0.40 for a period of 36 months from the
date of issuance.
Each of the Unit FT Shares, FT Shares and FT Warrants will qualify as a "flow-through
share" for the purposes of the
Income Tax Act
(Canada).
The Offering is scheduled to close on or about October 16, 2025, and is subject to certain conditions,
including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX
Venture Exchange. The Company may pay finder's fees on a portion of the Offering in an amount to be
determined. The finder's fees shall be paid in accordance with applicable securities laws and the
policies of the TSX Venture Exchange.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of such
jurisdiction. 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 state securities laws, and
may not be offered or sold within the United States unless an exemption from such registration
is available.
For further information, please contact:
Stefan Sklepowicz
Chief Executive Officer
www.kirklandlakediscoveries.com
+1 226 979 3515
Neither 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute
"forward-looking information" within the meaning of applicable Canadian securities laws and "forward-
looking statements" within the meaning of the United States Private Securities Litigation Reform Act of
1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are
not limited to, the Company's future exploration plans with respect to its property interests and the timing
thereof, the prospective nature of the projects, future price of gold, success of exploration activities and
metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for
additional capital, government regulation of exploration work, environmental risks, unanticipated
reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these
forward-looking statements can be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or results, "may", "could", "would", "will",
"might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the
expectations and beliefs of management, the assumed long-term price of gold, that the Company will
receive required permits and access to surface rights, that the Company can access financing,
appropriate equipment and sufficient labour, and that the political environment within Canada will
continue to support the development of mining projects.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Kirkland to be materially
different from those expressed or implied by such forward-looking statements, including but not limited
to: actual results of current exploration activities; environmental risks; future prices of gold; operating
risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in
obtaining government or regulatory approvals or financing; and other risks and uncertainties. These risks
and uncertainties and the additional risks described in the Company's most recently filed annual and
interim MD&A are not and should not be construed as being exhaustive.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended.
There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. In addition, forward-looking statements are provided solely for the purpose of
providing information about management's current expectations and plans and allowing investors and
others to get a better understanding of our operating environment. Accordingly, readers should not place
undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and the Company
assumes no obligation to update any forward-looking statements, except as required by applicable laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/268936