K2 Gold Announces Upsize of Non-Brokered Private Placement to up to CDN$25.25 Million

Executive Summary

• K2 Gold Corporation announced an increased private placement of up to 36,071,429 common shares at CDN $0.70 per share, targeting gross proceeds of approximately CDN $25.25 million.
• The net proceeds are earmarked for exploration activities at the Mojave (California) and Si2 (Nevada) projects, as well as general corporate purposes.
• Closing is expected “as soon as practicable,” subject to customary conditions including TSX Venture Exchange approvals.

Key Details

• Offering Size: Up to 36,071,429 common shares.
• Price per Share: CDN $0.70.
• Gross Proceeds Target: Approximately CDN $25,250,000.
• Placement Type: Non‑brokered private placement under the listed issuer financing exemption (NI 45‑106).
• Investor Eligibility: Residents of all Canadian provinces/territories except Quebec; also may be offered outside Canada where permissible.
• Hold Periods: No statutory hold period in Canada (except TSX Venture’s four‑month hold); other jurisdictions subject to applicable hold periods.
• Use of Proceeds: Primarily for exploration at the Mojave and Si2 projects; remainder for general corporate purposes.
• Closing Conditions: Subject to receipt of required regulatory approvals, including TSX Venture Exchange approval, and customary closing conditions.
• Finder’s Fees: May be paid to eligible arm‑length finders in accordance with securities laws and TSX Venture policies.
• Regulatory Disclaimers: Securities not registered under U.S. securities laws; offering not an offer or solicitation in the United States.

Notable Quotes

• “We are pleased to increase the size of our private placement, providing us with the capital needed to advance high‑potential exploration at Mojave and Si2,” – Anthony Margarit, President and CEO, K2 Gold Corporation.