Klondike Silver Announces Private Placement

Klondike Silver Announces Private Placement

Klondike Silver Corp. (the “Company”) (TSX.V: KS) The Company announces that it is raising up to $1,500,000 through a non-brokered private placement (the “Offering”) of up to 30,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable for a period of 5 years from the closing at a price of $0.05 per share in year one and two then $0.08 per share in years three, four and five. All Units are subject to a four-month hold period from the date of issuance. Commissions may be paid on a portion of the funds raised. The Offering is subject to TSX Venture Exchange ("TSXV") final acceptance.

The net proceeds will be used for advancing the Sandon B.C. project, located 138 KM north of the Trail B.C. smelter, and for general working capital.

None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Klondike Silver

  • Klondike’s Silvana Mine Silver Zinc Lead project is located in South Eastern B.C.
  • Klondike’s 114 square kilometer claim block is 138 km north of the Trail B.C. smelter.
  • Klondike Silver is exploring from underground, along the 9 km “Main Lode”. The “Main Lode” is the most prolific mineralized structure in the Slocan Mining Camp.
  • There are 13 past producing mines that are situated along the “Main Lode” which have produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far. (source: BC MINFILE).
  • There are 67 past producing mines that are situated in Klondike Silver’s 114 square kilometer claim block. (source: BC MINFILE).

On Behalf of the Board of Directors

KLONDIKE SILVER CORP

“Thomas J. Kennedy”

CEO and Director

Additional information can be found on Klondike Silver’s website: www.klondikesilver.com

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. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Source

KS:CA
The Conversation (0)

Silver Tiger Intersects 1.0 Metre of 12,851.5 G/T Silver Equivalent Within 16.0 Metres of 875.6 G/T Silver Equivalent in the Tigre Vein and Keel Zone

Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the first 95 drill holes for the Company's ongoing Pre-Feasibility Study ("PFS") drilling program on the Stockwork deposit on its El Tigre Project in Sonora, Mexico. These new results are highlighting the high-grade mineralization beneath the floor of the 2023 PEA Open Pit in the Keel Zone and expansion of the PEA Starter Pit to the north

Drill hole ET-24-568 cut 16.0 metres grading 875.6 g/t silver equivalent or 11.67 g/t gold equivalent from 155.0 to 171.0 metres, consisting of 409.9 g/t silver and 6.21 g/t gold and INCLUDING 1.0 metres grading 12,851.5 g/t silver equivalent or 171.35 g/t gold equivalent from 161.0 to 162.0 metres consisting of 6,034.0 g/t silver and 90.90 g/t gold and in the Keel Zone (Figures 1 & 2). The hole passed through the El Tigre vein located some 15m beneath the floor of the PEA Open Pit and is referred to as the Keel Zone.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Fortuna's Yaramoko Mine reaches one-million-ounce gold pour milestone

Fortuna's Yaramoko Mine reaches one-million-ounce gold pour milestone

Fortuna Silver Mines Inc. (TSX: FVI) (NYSE: FSM) is pleased to report that the Yaramoko Mine located in Burkina Faso reached the one-million-ounce gold pour milestone on May 19, 2024. Yaramoko started production on May 16, 2016 and Fortuna acquired the mine on July 2, 2021 (refer to Fortuna news release dated July 2, 2021 ).

As of December 31, 2023, Yaramoko has a remaining mine life of two years with Proven and Probable Mineral Reserves of 0.9 Mt at a grade of 7.90 g/t Au and containing 219 koz Au, in addition to Measured and Indicated Mineral Resources, exclusive of Mineral Reserves, of 0.5 Mt at a grade of 2.87 g/t Au and containing 43 koz Au, and Inferred Mineral Resources, exclusive of Mineral Reserves, of 0.16 Mt at a grade of 3.52 g/t Au and containing 18 koz Au (refer to Fortuna news release dated February 15, 2024, " Fortuna reports updated Mineral Reserves and Mineral Resources "). The mine's exploration budget for 2024 is US$6.1 million, which includes 41,450 meters of drilling (refer to Fortuna news release dated January 18, 2024 ).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Impact Silver Announces Closing of an Oversubscribed C$7.1 Million First Tranche Non-Brokered Private Placement Financing

Impact Silver Announces Closing of an Oversubscribed C$7.1 Million First Tranche Non-Brokered Private Placement Financing

IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce that it has closed the first tranche of the non-brokered private placement financing originally announced of up to C$6,200,000 on April 30th, 2024 and subsequently increased up to C$8,200,000 on May 13th, 2024 (the "Offering"). The Offering is being completed pursuant to the listed issuer financing exemption ("LIFE") of National Instrument 45-106 Prospectus Exemptions ("NI 45-106") and other private placement exemptions under NI 45-106.

Under the first tranche the Company has received gross proceeds of C$2,936,587 from the issuance of 10,487,812 LIFE units (the "LIFE Units") at C$0.28 per LIFE Unit and gross proceeds of C$4,192,071 from the issuance of 15,526,190 units (the "Standard Units") at C$0.27 per Standard Unit for aggregate gross proceeds of C$7,128,659. The second tranche of the Offering is anticipated to close on or before May 28th, 2024.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Dolly Varden Silver Commences 2024 Drilling Program with Discovery-Focused Exploration Targets

Dolly Varden Silver Commences 2024 Drilling Program with Discovery-Focused Exploration Targets

Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (FSE: DVQ1) (the "Company" or "Dolly Varden") is pleased to announce that the 2024 Exploration Drill Program has started at its 100% owned Kitsault Valley Project. Three drill rigs have been mobilized and are testing exploration targets at Moose Vein, Chance Vein and the North Star Deposit step out. Objectives of the initial targets include testing for new discoveries and following up from high-grade silver mineralization encountered in the 2023 drilling program.

Drill meterage in the 2024 drill program will be split approximately evenly between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of one third each to the Homestake Silver deposit, to the Wolf deposit area and to project wide exploration targets with discovery potential.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

MAG Silver Announces Planned Retirement of CXO

MAG Silver Corp. (TSX NYSE American: MAG) ("MAG", or the " Company ") announces the planned retirement of Co-Founder and Chief Exploration Officer (" CXO "), Dr. Peter Megaw, effective May 21, 2024. Peter has been an integral part of MAG Silver's success, applying over 45 years of relevant experience to our silver and gold exploration efforts, with the past ten years dedicated to serving as MAG's CXO.

Peter's retirement marks the culmination of over 20 years of dedicated service to MAG. Under his leadership, Juanicipio, one of the world's leading silver deposits, was discovered, financed, developed and is now in operation. Beyond the discovery of Juanicipio, as Co-Founder, Peter played an integral role in the development of the Company including its IPO, seven years of service on the Board, its acquisition of strategic exploration properties in prolific jurisdictions and its growth into the substantial silver producer it is today. Peter will continue as a consultant to the Company following his retirement from executive duties at MAG.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Eastern Metals

Successful $1M Placement to Accelerate Exploration

Proceeds to be used to underpin upcoming programs at the Arunta Project, Northern Territory and Cobar Project, New South Wales

Eastern Metals Ltd (ASX:EMS) (“Eastern Metals” or “the Company”) is pleased to announce that it has received firm commitments from professional and sophisticated investors to raise $1,000,000 (before costs) in a placement through the issue of 31.25 million new fully paid ordinary shares (“Shares”) at an issue price of $0.032 per Share (“the Placement”).

Keep reading...Show less

Latest Press Releases

Related News

×