Business
K2 Gold Corporation Announces Further Upsize of Non-Brokered Private Placement to Raise $3,000,000
Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -
About this update from K2 Gold Corporation
[{"type":"text","content":" Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -- K2 Gold Corporation. (“K2”) (TSX-V: KTO) is pleased to announce its intention to further increase the size of its previously announced non-brokered private placement from C$1,500,000 to C$3,000,000. The Company will issue up to 12,000,000 Units for total gross proceeds of up to $3,000,000. Each unit will be issued at a price of $0.25 and will consist of one common share of K2 and one half of one common share purchase warrant (each, a “Unit”). Each whole warrant will be exercisable to acquire one common share of K2 at an exercise price of C$0.40 for 24 months from the date of the closing of the Private Placement. The common share purchase warrants will be subject to acceleration at K2’s discretion in the event its common shares trade on the TSX Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.50 or more for a period of ten consecutive trading days. The closing of the Private Placement is expected to occur on or about August 13 and is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. There is no material fact or material change regarding K2 that has not been generally disclosed. K2 has agreed to pay a finder’s fee by way of shares equal to 6% of the aggregate Units subscribed for pursuant to the subscriptions arranged by such finders. K2 intends to use the net proceeds from the Private Placement for exploration activity on the Company’s portfolio of projects and for general working capital purposes. K2 is a gold exploration company focused on projects in the Yukon, Alaska and SW USA. For additional information please contact Stephen Swatton at 604-331-5093. On behalf of the Board of Directors,“Stephen Swatton”President and CEOK2 Gold Corporation Forward-Looking Caution: This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from ...