Klondike Silver to file fiscal 2025 results late

Executive Summary

• Klondike Silver Corp. announced a delayed filing of its FY 2025 audited financial statements, now expected by November 28 2025.
• The company applied for a management cease‑trade order to avoid a cease‑trade order while it corrects the default status.
• An extension of its July 8 2025 private placement will allow issuance of up to 30 million units for gross proceeds of $1.5 million at C$0.05 per unit, with proceeds earmarked for advancing the Silvana silver‑zinc‑lead project and working capital.

Key Details

• Late filing: Audited financial statements and MD&A for FY ended May 31 2025 will be filed by no later than Nov 28 2025 due to a cash shortage that delayed audit commencement.
• Default status: Klondike will be placed on the Canadian securities regulators’ defaulting issuer list until the filing is corrected.
• Management cease‑trade order (MCTO): Application submitted to prevent CEO, CFO and other management from trading company securities pending correction of the default. Bi‑weekly updates will be provided as required by NP 12‑203.
• Private placement extension:
• Up to 30 million units may be issued.
• Gross proceeds: $1.5 million (C$0.05 per unit).
• Unit composition: 1 common share + 1 share purchase warrant.
• Warrant terms: Exercisable for five years; exercise price C$0.05 in Years 1‑2, then C$0.08 thereafter.
• Hold period: Four months from issuance date.
• Use of proceeds: To advance the Silvana silver‑zinc‑lead mine project and provide working capital.

Notable Quotes

(No direct quotes provided in the release.)