K2 Gold closes $25.25-million private placement

Executive Summary

• K2 Gold Corp. has closed a $25.25 million financing offering under the Listed Issuer Financing Exemption (LIFE).
• The company issued 36,071,429 common shares at a price of $0.70 per share, resulting in gross proceeds of $25.25 million.
• Net proceeds will be utilized for exploration at the Mojave and Si2 projects and for general corporate purposes.

Key Details

• Transaction Structure: Closed under the Listed Issuer Financing Exemption (LIFE) pursuant to National Instrument 45-106 and Coordinated Blanket Order 45-935.
• Shares Issued: 36,071,429 common shares.
• Subscription Price: $0.70 per common share.
• Gross Proceeds: $25,250,000 CAD.
• Use of Proceeds: Exploration at the Mojave and Si2 projects, and general corporate purposes.
• Finder’s Fees: Cash fees paid to arm's-length finders:
  • Haywood Securities Inc.: $256,200
  • ATB Capital Markets Corp.: $700,000
  • Canaccord Genuity Corp.: $315,000
• Post-Closing Share Count: Total of 234,341,670 common shares outstanding.
• Regulatory Conditions: Closing is subject to customary conditions, including regulatory approvals and acceptance by the TSX Venture Exchange.
• Hold Period: Common shares issued are not subject to a statutory hold period under applicable Canadian securities laws.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.