Kirkland Lake Discoveries Announces Upsized Private Placement

Executive Summary

• Kirkland Lake Discoveries Corp. upsized its previously announced private placement to raise up to C$14 million.
• The offering now includes Units at C$0.25, Premium Units at C$0.37, and FT Shares at C$0.30, each with attached share purchase warrants exercisable at C$0.40 for 36 months.
• Closing is expected on or about October 16, 2025, subject to regulatory approvals (TSX Venture Exchange) and other customary conditions.

Key Details

• Offering Size: Increased to a maximum of C$14 million in gross proceeds.
• Pricing:
• Premium Units – C$0.37 per unit
• Standard Units – C$0.25 per unit
• FT Shares – C$0.30 per share
• Unit Structure: Each Unit = 1 common share + ½ share purchase warrant (full warrant = right to acquire 1 additional non‑flow‑through common share at C$0.40).
• Premium Unit Structure: Each Premium Unit = 1 common “Unit FT Share” + ½ share purchase warrant (same exercise terms as above).
• Flow‑Through Status: All Unit FT Shares, FT Shares and associated warrants qualify as flow‑through shares for Canadian tax purposes.
• Closing Date: Expected on or about October 16, 2025, pending required approvals.
• Conditions: Subject to receipt of all necessary regulatory approvals, including TSX Venture Exchange approval; finder’s fees may be paid in accordance with applicable securities laws and exchange policies.
• Use of Proceeds: Not explicitly detailed in the release (typically for working capital, exploration, and corporate purposes).

Notable Quotes

• Stefan Sklepowicz, Chief Executive Officer: “We are pleased to increase the size of our private placement, providing us with additional capital to advance our exploration programs and support ongoing development initiatives.”