Klondike Gold Corp. (TSX-V:KG) has announced an up to $1 million non-brokered private placement with the proceeds to be used to continue the exploration and development of its Yukon properties and for general working capital.
The company said the financing will consist of flow-through funds and non-flow-through funds.
The flow-through placement will consist of the sale of flow-through units at a price of $0.15 per flow-through share, with each flow-through share consisting of a share which is “flow-through” for Canadian income tax purposes and one share purchase warrant.
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The non-flow-through placement will consist of the sale of units at a price of $0.10 each, with each unit consisting of one share and one share purchase warrant.
Each share purchase warrant will entitle the holder to purchase one share at a price of $0.20 per unit for a period of 2 years from the date of issuance, Klondike added.
A finder’s fee on the gross proceeds of the financing may be paid and the financing may close in tranches, the company noted.
Klondike Gold is a Canadian exploration company focused on the exploration and development of its Yukon gold projects.
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