K2 Gold arranges $15-million private placement

Executive Summary

• K2 Gold Corp. has announced a non-brokered private placement to raise up to CAD $15 million through the issuance of common shares.
• The shares are priced at 70 cents per share, with total gross proceeds capped at $15 million.
• Net proceeds will be utilized for exploration at the Mojave and Si2 projects, as well as for general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement.
• Shares Issued: Up to 21,428,572 common shares.
• Price Per Share: CAD $0.70.
• Gross Proceeds: Up to CAD $15,000,000.
• Regulatory Basis: Listed issuer financing exemption under Part 5A of National Instrument 45-106, as amended by Coordinated Blanket Order 45-935.
• Jurisdiction: Offered to purchasers in all Canadian provinces and territories except Quebec; may also be offered outside Canada on a private placement basis.
• Hold Period: No statutory hold period in Canada (except for the four-month hold period applicable to TSX Venture Exchange listings); securities not issued under the listed issuer financing exemption are subject to a four-month hold period.
• Use of Proceeds: Exploration at the Mojave and Si2 projects, and general corporate purposes.
• Closing Conditions: Subject to customary closing conditions, including receipt of necessary regulatory approvals and TSX-V approval.
• Finders' Fees: The company may pay finders' fees to eligible arm's-length finders in accordance with applicable securities laws and TSX-V policies.

Notable Quotes

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