Kirkland Lake Discoveries Corp. Announces Private Placement
Kirkland Lake Discoveries Corp. Announces
Private Placement
Toronto, Ontario--(Newsfile Corp. - December 17, 2024) -
Kirkland Lake Discoveries Inc. (TSXV:
KLDC) (OTC Pink: KLKLF)
(the
"Company"
) is pleased to announce that it proposes to complete a
non-brokered private placement (the "
Offering
") pursuant to which it shall issue (i) flow-through units
("
FT Units
") at a price of $0.07 per FT Unit; and (ii) units ("
Units
") at a price of $0.05 per Unit, in any
combination to raise aggregate gross proceeds of up to $1,600,000. Each Unit will consist of one
common share of the Company (a "
Common Share
") and one share purchase warrant exercisable to
acquire one additional Common Share at an exercise price of $0.08 for a period of 36 months from the
date of issuance thereof. Each FT Unit will consist of one "flow-through" Common Share and one-half of
one share purchase warrant, with each whole share purchase warrant exercisable to acquire one
additional Common Share at a price of $0.12 for a period of 36 months from the date of issuance
thereof. Up to 20% of the Offering may be purchased by insiders. Funds from the issuance of FT Units
will be used for exploration expenditures and funds raised from the issuance of Units will be used for
general corporate purposes.
The Offering remains subject to various closing conditions, including the approval of the TSX Venture
Exchange.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently
consolidated a district-scale, highly prospective land package in the Kirkland Lake Gold Camp in
Ontario, Canada. The properties are situated within the Abitibi Greenstone Belt, one of the world's most
richly endowed greenstone belts, with over 200 million ounces of gold produced to date.
[1]
The Company's properties host regional and property-scale mineralized structures, considered second-
order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), a major regional structure
known for its spatial association with gold mines in the camp.
The properties assembled by the Company are grouped into two key areas: KL East, which includes the
Lucky Strike Property, Arnold Property, and KL Central, and KL West, which encompasses the
Goodfish-Kirana and the KL West Properties. KLDC's land position spans approximately 38,000 ha
over 1,338 claims and 29 patented claims, making the Company the largest landholder in the Kirkland
Lake region.
For additional 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
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties, including the risk that the Offering may not be
completed on the terms currently proposed or at all and risks relating to completion of future
exploration activities as currently proposed or at all. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of the Company, including
with respect to the potential size and composition of the Offering and the receipt of all regulatory
approvals. Readers are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
[1]
Canada's Gold Exploration Frontier: The Abitibi Greenstone Belt -
https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-
abitibi-greenstone-belt/
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/234156