TSX Venture Exchange Symbol – KG
VANCOUVER, May 18, 2016 /CNW/ - Klondike Gold Corp.
(TSX.V:KG) ("Klondike Gold" or the "Company") announces that it
plans to raise $1,200,000 of
non-flow-through funds by way of a non-brokered private placement
(the "Private Placement").
The Private Placement will consist of the sale of units at a
price of $0.30 per unit, with each
unit consisting of one common share and one half of a common share
purchase warrant. Each warrant will entitle the holder to
purchase one common share at a price of $0.35 per common share for a period of 30 months
from closing.
The Company intends to use the proceeds from the offering to
continue exploration and development of the Company's Yukon properties, as well as for general
working capital.
The securities issued in connection with this transaction are
subject to TSX Venture Exchange approval and all securities will be
subject to a four month plus one day statutory hold period after
closing.
ABOUT KLONDIKE GOLD CORP.
Klondike Gold Corp. is a Canadian exploration company with offices
in Vancouver, British Columbia,
and Dawson City, Yukon
Territory. The company is focused on exploration and
development of its Yukon gold projects, accessible by government
maintained roads located on the outskirts of Dawson City, YT, covering 25,000 hectares of
hard rock and 2,000 hectares of placer claims including "McKinnon
Creek" leased to Todd
Hoffman/Jerusalem Mining LLC and featured on the Discovery
Channel show "Gold Rush".
On behalf of Klondike Gold Corp.
"Peter Tallman"
President and CEO
(604) 609-6110
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Information
"This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Klondike in light of its experience,
current conditions, expectations of future developments and other
factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Klondike's actual
results, performance and achievements to differ materially from
those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at
www.sedar.com. Klondike disclaims any obligation to
update or revise any forward-looking information or statements
except as may be required."
SOURCE Klondike Gold Corp.
