Klondike Gold New Release: Klondike Closes $3,516,726 Private Placement

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Vancouver, British Columbia, Canada, November 17, 2021, Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTC: KDKGF) (“Klondike Gold” or the “Company”) is pleased to announce that further to its news release of October 25, 2021, the Company has closed the second tranche (the “Second Tranche”) of the non-brokered private placement (the “Financing”) raising total aggregate proceeds of $3,516,726.55 of which $2,395,000 are flow through funds.

The Second Tranche
In closing the Second Tranche, The Company issued 2,300,000 flow-through units at the price of $0.20 per unit, comprising of 2,300,000 common shares which are “flow through” shares for Canadian income tax purposes and 1,150,000 warrants.  The Company further issued 4,650,716 non-flow-through units at a price of $0.175 per unit, comprising of 4,650,716 common shares and 2,325,358 warrants.

In connection with the completion of the Financing, the Company paid finder’s fees totalling $129,832.58 and has issued 661,329 warrants (the “Compensation Warrants”).

All warrants issued in the Second Tranche and the Compensation Warrants are exercisable at a price of $0.25 per share until November 17, 2023. 

All securities issued in connection with the Second Tranche and the Compensation Warrants are subject to TSX Venture Exchange approval and all securities will be subject to a four month and one day statutory hold period expiring on March 18, 2022.

The Company intends to use the proceeds from the private placement to continue exploration and development of the Company’s Yukon properties, as well as for general working capital.

Peter Tallman, President and CEO of Klondike Gold stated “I would like to acknowledge and thank the Company’s shareholders for their continued financial support and long-term confidence.  The Company is well funded for its operations through 2022.”

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world.  The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district.  To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets.  The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

“Peter Tallman”

President and CEO
(604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

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