Kirkland Lake increases financing to $14-million

Executive Summary

• Kirkland Lake Discoveries Corp. upsized its private placement to raise up to $14 million in gross proceeds.
• The offering includes premium units (C$0.37), regular units (C$0.25) and flow‑through shares (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 TSX Venture Exchange approval and other customary conditions.

Key Details

• Total Gross Proceeds Target: Up to C$14 million (previously lower).
• Unit Structures:
• Premium Unit: C$0.37 per unit – 1 common share + ½ warrant.
• Regular Unit: C$0.25 per unit – 1 common share + ½ warrant.
• Flow‑through Share: C$0.30 per share – qualifies as a flow‑through for Canadian tax purposes.
• Warrant Terms: Each whole warrant allows purchase of one additional common share (non‑flow‑through) at an exercise price of C$0.40, exercisable for 36 months from issuance.
• Closing Date: Expected on or about Oct. 16, 2025.
• Conditions to Closing: Receipt of all required approvals, including TSX Venture Exchange consent; compliance with securities laws.
• Finder’s Fees: Company may pay finder fees on a portion of the offering; amounts to be determined and paid per applicable regulations.

Notable Quotes

(No executive quotes provided in the release.)