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K9 Gold Corp. (TSXV: KNC) (FSE: 5GP0) (OTCQB: WDFCF) ("K9" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") for total gross proceeds of $400,000.
Under the Offering, the Company issued 4,000,000 units (the "Units") at a price of $0.10 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 for a period of three (3) years from the date of issuance.
In connection with the Offering, the Company paid finder's fees totaling $4,000.
Insiders of the Company subscribed for an aggregate of $40,000 worth of Units in the Offering. The participation of insiders constitutes a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions but is exempt from the formal valuation and minority shareholder approval requirements.
All securities issued under the Offering are subject to a statutory hold period expiring December 14, 2025, in accordance with applicable securities laws.
The net proceeds from the Offering will be used for general working capital and exploration activities.
About K9 Gold Corp.
K9 Gold Corp. is a mineral exploration company focused on advancing its portfolio of gold and base metal projects in North America. The Company is committed to responsible exploration and the creation of long-term shareholder value.
On behalf of the Board of Directors
K9 Gold Corp.
Kosta Tsoutsis
Director
K9 Gold Corp.
email: kosta@k9goldcorp.com
Telephone: 604 808-9134
Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email: brian@k9goldcorp.com
telephone: 604 312-6910
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding K9's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including K9's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that K9 does acquire. These forward-looking statements are made as of the date of this news release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262357
