Business
K2 Gold Closes First Tranche of Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - K2 Gold Corporation (TSXV: KTO)...
About this update from K2 Gold Corporation
[{"type":"text","content":"K2 Gold Closes First Tranche of Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) (\"K2\" or the \"Company\") today announced that, further to its news release June 18, 2024 regarding its non-brokered private placement financing of up to 15,000,000 units (the \"Units\") at a price of $0.10 per Unit for gross proceeds to the Company of up to $1,500,000 (the \"Offering\"), it has closed the first tranche (\"First Tranche\") of the Offering. Under the First Tranche, the Company has issued 9,500,000 Units for gross proceeds of $950,000.00.Each Unit will consist of one common share (a \"Share\") in the capital of the Company and 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 10-day volume-weighted average trading price of the Shares as quoted on the TSX Venture Exchange 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 to complete the EIS permitting for the company's Mojave Gold project located in Inyo County, California, USA, as well as exploration and general working capital.The Company will pay finders fees in compliance with the policies of the TSX Venture Exchange and applicable securities legislation, to arm's length finders in connection with subscriptions from subscribers introduced by them, totaling $41,700.00 and 417,000 warrants exercisable for 12 months from the date of issuance to acquire common shares of the Company at an exercise price of $0.30 per share. Finders Warrants...