Business
Kirkland Lake Discoveries Corp. Announces $7M Private Placement with Lead Orders of $6M
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) - Kirkland Lake Discoveries Inc. (TSXV: ...
About this update from Kirkland Lake Discoveries Corp.
[{"type":"text","content":"Kirkland Lake Discoveries Corp. Announces $7M Private Placement with Lead Orders of $6MToronto, Ontario--(Newsfile Corp. - September 23, 2025) - Kirkland Lake Discoveries Inc. (TSXV: KLDC) (the \"Company\") is pleased to announce that it proposes to complete a non-brokered private placement (the \"Offering\") pursuant to which it shall issue (i) flow-through shares (\"FT Shares\") at a price of $0.30 per FT Share; and (ii) units (each, a \"Unit\") at a price of $0.25 per Unit, in any combination, to raise aggregate gross proceeds of up to $7,000,000. Each Unit will consist of one (1) common share of the Company (a \"Common Share\") and one half (1/2) of one (1) Common Share purchase warrant (\"Warrant\") with each whole Warrant exercisable to acquire one additional Common Share at an exercise price of $0.40 for a period of 36 months from the date of issuance thereof. The FT Shares issued under the Offering are intended to qualify as \"flow through shares\" within the meaning of the Income Tax Act (Canada) (the \"Tax Act\").The Company has secured initial lead orders from new and existing investors including Eric Sprott, Rob McEwen and Crescat Capital for $6,000,000.The Company intends to use the net proceeds raised from the issuance of the Units to fund exploration activities on the Company's projects and for general working capital purposes. The gross proceeds from the sale of the FT Shares will be used to incur \"Canadian exploration expenses\" that are intended to qualify as \"flow-through mining expenditures\" as those terms are defined in the Tax Act. Closing of the Offering remains subject to customary conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (\"TSX-V\"). All securities to be issued pursuant to the Offering will be subject to a statutory hold period under applicable Canadian securities laws of four months and one day from the date of closing of the Offering. The Company may pay a finder's fee in connection with the Offering to eligible finders in accordance with the policies of the TSX-V and applicable securities laws.The securities offered in the Offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemptio...