Klondike Gold Corp. (TSX-V:KG) said it plans to raise up to $3 million of flow-through funds and non-flow-through funds by way of a non-brokered private placement.
The non-flow-through portion of the offering will include between 9.5 million and 14.3 million units at a price of $0.105 each, good for proceeds between $1 million and $1.5 million.
Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling its holder to purchase one additional share at an exercise price of $0.20 for a period of 24 months.
The Listed Issuer Financing Exemption (LIFE) offering is expected to be completed in multiple tranches, with the first tranche expected to close on or about March 23, the company said.
Meanwhile, the flow-through placement will consist of the sale of a maximum of about 17.4 million flow-through units at a price of $0.115 per flow-through unit for aggregate proceeds of up to $2 million.
Each flow-through unit consists of one common flow-through share and one warrant, with each warrant entitling its holder to purchase one additional share at an exercise price of $0.20 for a period of 24 months from the date of issue.
Klondike Gold is a Canadian exploration company focused on the exploration and development of its Yukon gold projects.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel