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K2 Gold Announces Increase to Previously Announced Offering Up to C$3 Million
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - K2 Gold Corporation (TSXV: KT...
About this update from K2 Gold Corporation
[{"type":"text","content":"K2 Gold Announces Increase to Previously Announced Offering Up to C$3 MillionVancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) (\"K2\" or the \"Company\") today announced an upsize to the previously announced non-brokered private placement (see KTO.V news release February 14, 2025) whereby the Company will now issue up to 20,000,000 units (the \"Units\") at a price of CDN$0.15 per Unit (the \"Offering Price\") for total gross proceeds of up to CDN$3,000,000 (the \"Offering).Each Unit will consist of one common share (a \"Share\") in the capital of the Company and one half of one non-transferable common share purchase warrant (each whole common share purchase warrant being a \"Warrant\"). Each Warrant will be exercisable to acquire one Share at a price of CDN$0.30 per Share for a period of 12 months from the date of issuance subject to an acceleration clause. If the 5-day volume-weighted average trading price of the Shares as quoted on the TSX-V is equal to or greater than $0.35 at the close of any trading day, then the Company may, at its option, accelerate the expiry date of the Warrants by issuing a press release (a \"Warrant Acceleration Press Release\") announcing that the expiry date of the Warrants shall be deemed to be on the 30th day following the issuance of the Warrant Acceleration Press Release (the \"Accelerated Expiry Date\"). All Warrants that remain unexercised following the Accelerated Expiry Date shall immediately expire and all rights of holders of such Warrants shall be terminated without any compensation to such holder.K2 intends to use the net proceeds raised from the Offering for exploration and to complete permitting at the Mojave project on the company's Mojave Gold project located in Inyo County, California, USA, as well as for general working capital.The Company may pay finder's fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.The closing of the Offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. There are no material fac...