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K9 Gold Corp. Announces Closing of Second Tranche of Private Placement Backed by Palisades Goldcorp and Funds Managed by Sprott Asset Managment LLP for Total Proceeds of $3,717,450
Closing of Additional Private Placement for Proceeds of $500,000 Vancouver, British Columbia-...
About this update from Americore Resources Corp
[{"type":"text","content":"K9 Gold Corp. Announces Closing of Second Tranche of Private Placement Backed by Palisades Goldcorp and Funds Managed by Sprott Asset Managment LLP for Total Proceeds of $3,717,450Closing of Additional Private Placement for Proceeds of $500,000Vancouver, British Columbia--(Newsfile Corp. - February 22, 2021) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTC Pink: WDFCF) (\"K9\" or the \"Company\") is pleased to announce it has closed the second (and final) tranche (the \"Second Tranche\") of its non-brokered private placement (the \"Private Placement\") first announced on January 22, 2021 and increased in size on February 1, 2021. In addition, the Company has closed on a separate private placement (the \"Additional Private Placement\") that had not been previously announced for gross proceeds of $500,000.CLOSING OF THE SECOND TRANCHE OF THE PRIVATE PLACEMENTOn February 5, 2021 it was announced that the first tranche (the \"First Tranche\") of the Private Placement, comprised of 2,855,000 non-flow through units (the \"NFT Units\") at a price of $0.30 per NFT Unit for proceeds of $856,500, was closed. Each NFT Unit was comprised of one common share and one share purchase warrant exercisable for a period of three years at a price of $0.40 per common share until February 4, 2024. A syndicate led by Palisades Goldcorp Ltd. purchased a total of 1,600,000 of the NFT Units in the First Tranche. Palisades Goldcorp Ltd. is a Canadian resource focused merchant bank. The Company has now closed the Second Tranche of the Private Placement consisting of 8,174,143 flow through units (the \"FT Units\") at a price of $0.35 per FT Unit for gross proceeds of $2,860,950. Each FT Unit is comprised of one flow through common share and one common share purchase warrant exercisable for a period of three years at a price of $0.40 per common share.Funds managed by Sprott Asset Management LLP purchased 2,857,143 FT Units of the Private Placement. Total gross proceeds of the Private Placement (both the First Tranche and the Second Tranche in the aggregate) were $3,717,450. Proceeds from the Private Placement will be used for drilling and exploration on the Stony Lake East Gold Project.The FT Units issued (including any shares underlying the FT Unit warrants) in the Second Tranche are subject to a four month Exchange hold period expiring on June 22, 2021. Cash com...