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K9 Gold Announces Amendment to Share Purchase Agreement and Financing
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2022) - K9 Gold Corp. (TSXV: KNC) (F...
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[{"type":"text","content":"K9 Gold Announces Amendment to Share Purchase Agreement and FinancingVancouver, British Columbia--(Newsfile Corp. - December 14, 2022) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) (\"K9\" or the \"Company\") is announcing that further to its press release dated November 15, 2022, it has entered into an amending agreement (the \"Amending Agreement\") to the share purchase agreement (the \"Share Purchase Agreement\") entered into among 1000175306 Ontario Ltd. (\"306 Co\") and the shareholders (the \"Shareholders\") of 306 Co. (the \"Transaction\").Pursuant to the terms of the Amending Agreement, the Company has agreed to issue 6,500,000 common shares in the capital of the Company (the \"Common Shares\") to the Shareholders, in consideration for the sale of 50% of the issued and outstanding common shares of 306 Co. (the \"306 Shares\"). Within 14-months following the closing of the Transaction (the \"Closing Date\"), the Company may acquire from the Shareholders the remaining 50% of the 306 Shares, in exchange for 6,500,000 Common Shares (the \"Additional Purchase\"). Any Common Shares issued pursuant to an Additional Purchase will be issued at the \"market price\" (as defined in the TSX Venture Exchange's policies) and will be issued pursuant to relevant applicable securities laws. The Company will also pay to the Shareholders, $10,000 in cash, on a pro-rata basis, on the Closing Date If the Additional Purchase is consummated, then the Company will own 100% of the 306 Shares, which will result in the Company owning a 100% interest in the James Bay Lithium Project, located in the James Bay region of northern Quebec. Additional details relating to the James Bay Lithium Project can be found in the Company's press release dated November 15, 2022 which has been filed on the Company's SEDAR profile.The closing of the transactions contemplated by the Share Purchase Agreement and Amending Agreement remain subject to the approval of the TSX Venture Exchange. The Company is also pleased to announce a non-brokered private placement (the \"Private Placement\") of up to 10,842,858 common shares in the capital of the Company that will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) flow through shares (the \"FT Shares\") at a price of $0.07 per FT Share, for aggregate gross proc...