Klondike Silver Announces Proposed Private Placement
February 11, 2016 - Vancouver, Canada – Klondike Silver Corp. (the “Company”) (TSX.V: KS) announces that it proposes to raise up to $400,000 through a non-brokered private placement (the “Private Placement”) of up to 16,000,000 units at a price of $0.025 per unit. Flow-through and non flow-through units will be offered. Each unit will consist of either one flow through or one non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of four years. Warrants attached to Non flowthrough units will be exercisable at a price of $0.06 per share and warrants attached to flowthrough units will be exercisable at a price of $0.10 per share. Finders' fees may be paid on a portion of the funds raised.
Completion of the Private Placement is subject to the approval of the TSX Venture Exchange. The net proceeds will be used for advancing the Sandon B.C. project specifically the Payne, HalMac and Van Roi-Hewitt, located 80 KM north of the Trail B.C. smelter, and for general working capital.
About Klondike Silver Corp.
Klondike Silver Corp. has assembled a portfolio of silver exploration properties throughout Canada, most notably, in the historic Slocan Mining District southeastern British Columbia. This camp has produced silver since the first discoveries in the late 1800s. Klondike Silver is the primary land-holder controlling a majority of the camp and the permitted, 100% owned “Sandon Milling Complex” which is ready for future production. In this land package there are approximately 150 past producing mines. Klondike views the Carnation zone and the “Silver Mile” at the Silvana location as the primary exploration targets.
For additional information please visit the company website www.klondikesilver.com.
CONTACT INFORMATION
Corporate Inquiries:
Dale Dobson: (604) 682-2928 Email: [email protected]
On Behalf of the Board of Directors
Klondike Silver Corp.
"Richard Hughes"
Richard Hughes Director
“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.”
Suite 804 – 750 West Pender Street T: 604.682.2928 Vancouver, B.C., V6C 2T7 Canada F: 604.685.6905 www.KlondikeSilver.com TSXV: KS / FSE: K1SN