Mr. Peter Tallman reports
KLONDIKE GOLD ANNOUNCES $1,000,000 PRIVATE PLACEMENT
Klondike Gold Corp. plans to raise up to $1-million in aggregate of flow-through funds and non-flow-through funds by way of a non-brokered private placement.
The flow-through placement will consist of the sale of flow-through units at a price of 15 cents per flow-through unit, with each flow-through unit consisting of one common share that is a flow-through share for Canadian income tax purposes and one share purchase warrant.
The non-flow-through placement will consist of the sale of units at a price of 10 cents per unit, with each unit consisting of one common share and one share purchase warrant.
Each share purchase warrant will entitle the holder to purchase one common share at a price of 20 cents per common share for a period of two years from the date of issuance.
A finder's fee on the gross proceeds of the financing may be paid.
The financing may close in tranches. The company intends to use the proceeds from the financing to continue exploration and development of the company's Yukon properties as well as for general working capital.
The securities issued in connection with the financing are subject to TSX Venture Exchange approval and all securities will be subject to a four-month-and-one-day statutory hold period after the date of closing.
We seek Safe Harbor.
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