Business
Kirkland Lake Discoveries Corp. Announces Upsizing of Private Placement to $10M
Toronto, Ontario--(Newsfile Corp. - September 25, 2025) - Kirkland Lake Discoveries Corp. (TSXV:...
About this update from Kirkland Lake Discoveries Corp.
[{"type":"text","content":"\nKirkland Lake Discoveries Corp. Announces Upsizing of Private Placement to $10MToronto, Ontario--(Newsfile Corp. - September 25, 2025) - Kirkland Lake Discoveries Corp. (TSXV: KLDC) (the \"Company\") is pleased to announce that further to its press release dated September 22, 2025, the Company has upsized its previously announced non-brokered private placement (the \"Offering\") due to strong investor demand. The Offering will now consist of the issuance of (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 $10,000,000.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 (each whole warrant, a \"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. 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 previously announced that it had secured lead orders from new and existing investors, including Eric Sprott, Rob McEwen, and Crescat Capital.The net proceeds raised from the issuance of Units will be used to fund exploration activities on the Company's projects and for general working capital purposes. The gross proceeds from the sale of 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 the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (\"TSX-V\"). All securities 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. The Company may pay a finder's fee in connection with the Offering to eligible finders in accordance with TSX-V policies 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 ...