K2 Gold Announces Non-Brokered Private Placement to Raise CAD $1.5 Million
TSX-V: KTO
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
NEWS RELEASE
K2 Gold Announces Non-Brokered Private
Placement to Raise CAD $1.5 Million
Not for distribution to United States newswire services or for dissemination in
the United States.
Vancouver, B.C. – June 18, 2024 – K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO;
OTCQB: KTGDF; FRANKFURT: 23K) today announced a non -brokered private placement
whereby the Company will issue up to 15,000,000 units (the "Units") at a price of CDN$0.10 per
Share (the “Offering Price”) for total gross proceeds of up to CDN$1,500,000 (the “Offering).
Each Unit will consist of one common share (a “Share“) in the capital of the Company and one
non-transferable common share purchase warrant (each whole common share purchase
warrant being a “Warrant“). Each Warrant will be exercisable to acquire one Share at a price of
CDN$0.30 per Share for a period of 12 months from the date of issuance subject to an
acceleration clause. If the 10-day volume-weighted average trading price of the Shares as
quoted on the TSX-V is equal to or greater than $0.35 at the close of any trading day, then the
Company may, at its option, accelerate the expiry date of the Warrants by issuing a press
release (a “Warrant Acceleration Press Release”) announcing that the expiry date of the
Warrants shall be deemed to be on the 30th day following the issuance of the Warrant
Acceleration Press Release (the “Accelerated Expiry Date”). All Warrants that remain
unexercised following the Accelerated Expiry Date shall immediately expire and all rights of
holders of such Warrants shall be terminated without any compensation to such holder.
K2 intends to use the net proceeds raised from the Offering for exploration and the final permitting
stages at the Mojave project, as well as for general working capital.
The Company may pay finder’s fees on a portion of the Offering, subject to compliance with the
policies of the TSX Venture Exchange and applicable securities legislation.
The closing of the Offering is subject to the receipt of all necessary regulatory approvals, including
the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be
subject to a four-month hold period in accordance with applicable Canadian securities laws. There
are no material facts or material changes regarding the Company that have not been generally
disclosed.
About K2 Gold
K2 is a proud member of Discovery Group and currently has projects in Southwest USA and the
Yukon.
The Mojave Project is a 5,830 -hectare oxide gold project with base metal targets located in
California. Multiple previously recognized surface gold targets have been successfully drilled in
the past, most notably by Newmont and BHP. Since acquiring the property, K2 has comp leted
geochemical and geophysical surveys, geologic mapping, LiDAR, a WorldView 3 alteration
survey, and successfully completed a 17 -hole RC drill program focused on the Dragonfly and
Newmont Zones. Highlights from K2’s drilling program i nclude 6.68 g/t Au over 45.72m from
surface at the Dragonfly Zone, and 1.69 g/t Au over 41.15m from 44.20m depth at the Newmont
Zone.
The Si2 Gold Project is located in Esmeralda County, approximately 60km northwest of
Tonopah, Nevada, and 20km northwest of Allegiant Gold’s Eastside deposit (1.4Moz Au, 8.8 Moz
Ag). The project is road accessible and consists of 118 BLM lode claims covering 986 Ha, 65 of
which are under option from Orogen Royalties Inc. (TSXV: OGN). The claims cover an 8 km2 area
of steam heated alteration within a sequence of felsic to intermediate volcanic rocks displaying
brecciation and strongly anomalous mercury.
K2’s 2023 proof of concept diamond drill program at the Si2 Project successfully confirmed that
the system is gold bearing. The project was was indentified and staked based on its strong
geological similarities to AngloGold Ashanti’s 9+ Moz Au Silicon project1 near Beatty, Nevada
1. https://reports.anglogoldashanti.com/22/wp-content/uploads/2023/04/AGA-IR22.pdf
The Wels Project is located in Western Yukon, approximately 40km east of the community of
Beaver Creek and 60km south of Newmont Goldcorp’s 4Moz Coffee deposit, within the
traditional territory of White River First Nation. The land position consists of 350 contiguous
Quartz Claims covering 7,200 hectares. Wels is underlain by metasedimentary and
metavolcanic rocks of the White River Formation that have been intruded by a series of Triassic
gabbroic sills and Cretaceous granitic plugs. This package has been cut by a series of WNW
trending high-angle structures that host alteration and gold mineralization. Mineralization is
noted in all rock types observed on the property to date and is associated with quartz veining,
brecciation, and sericite alteration with anomalous As, Sb, and, locally, visible gold. Four
discrete mineralized trends are currently known, with only one trend drilled to date, delivering
encouraging assay results of 2.37 g/t Au over 28.5m and 10.38 g/t Au over 6.0m. All mineralized
trends remain open along strike and approximately 80% of the property is currently unexplored.
K2 is committed to transparency, accountability, environmental stewardship, safety, diversity,
inclusion, and community engagement.
On behalf of the Board of Directors,
“Anthony Margarit”
President and CEO K2 Gold Corporation.
For further information about K2 Gold Corporation or this news release, please visit our website
at k2gold.com or contact our Office in Canada at 778-266-1456 or by email at [email protected].
K2 Gold Corporation is a member of Discovery Group based in Vancouver, Canada. For more
information please visit: discoverygroup.ca.
Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts. Forward-
looking statements involve risks, uncertainties and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from those expressed or implied
by such forward-looking statements, including statements regarding the exploration program at
Si2, Wels, and Mojave, including results of drilling, and future exploration plans at Si2, Wels,
and Mojave. Factors that could cause actual results to differ materially from these forward-
looking statements include, but are not limited to, variations in the nature, quality and quantity of
any mineral deposits that may be located, the Company's inability to obtain any necessary
permits, consents or authorizations required for its planned activities, and the Company's
inability to raise the necessary capital or to be fully able to implement its business strategies.
The reader is referred to the Company's public disclosure record which is available on SEDAR
(www.sedar.com). Although the Company believes that the assumptions and factors used in
preparing the forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed time frames or at all. Except as
required by securities laws and the policies of the TSX Venture Exchange, the Company
disclaims any intention or obligation to update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful, including any of the securities in the United States of America. No
securities of the Company have been or will, in the foreseeable future, be registered under the
United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not
be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such registration requirements is
available.
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