Proactive Investors - Run By Investors For Investors

Klondike Gold raises $2.1M in first tranche of private placement

The company is actively exploring its Lone Star gold target in Yukon Territory, Canada
old-time gold prospector
Klondike shares jumped 2.4% to close at $0.21 on Monday

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF), a Canadian exploration company with assets in Yukon Territory, closed a $2.1 million private placement on Monday. 

The company issued approximately 7.8 million flow-through shares at a price of $0.22 and 1.9 million non-flow-through units at $0.20 for gross proceeds totaling about $2.1 million. It anticipates that the second tranche will be completed in the coming weeks, the company said in a statement.

Shares of Klondike jumped 2.4% to close at $0.21 on Monday, and gained 3.5% on the OTC Markets in the US.

READ: Klondike Gold Corp to raise up to C$2.75 million to boost exploration at Yukon projects 

Flow-through shares are a unique financing vehicle for junior mining companies in Canada, giving investors tax incentives for funding resource exploration.

Based in Vancouver, Klondike Gold Corp is focused on exploring and developing its Lone Star Gold project in Yukon, Canada. The asset is a district-scale, 557 square kilometre property at the confluence of Bonanza and Eldorado Creeks.

In addition to the Lode Star zone, Klondike is actively exploring the Nugget zone, where earlier drilling identified near-surface gold intersections of 2.36 g/t over 22.86 metres.

--Contact Angela Harmantas at [email protected]

--Follow her on Twitter @AHarmantas

View full KG profile View Profile

Klondike Gold Corp. Timeline

Related Articles

1542274067_Telson---Antonio-Berlanga.jpg
November 15 2018
Telson's Mexican mines are set to deliver significant growth
zeolite mine
September 14 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants
1551268837_Oriole---drilling-in-West-Africa.jpg
February 27 2019
Oriole Resources has a long track-record of exploration in Africa

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use