K2 Gold Corporation Successfully Closes C$3.67 Million Private Placement Financing
Vancouver, British Columbia – March 10, 2025 – K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) (“K2” or the “Company”), a mineral exploration company, is thrilled to announce the successful completion of its non-brokered private placement financing. The financing, which was previously announced on February 21, 2025, raised a total of C$3,673,000 in gross proceeds.
Details of the Financing
A total of 24,486,691 Units were issued at a price of C$0.15 per Unit. Each Unit consisted of one common share in the capital of the Company and one half of one non-transferable common share purchase warrant (each whole common share purchase warrant being a “Warrant”).
Use of Proceeds
The net proceeds from the Offering will be used primarily for exploration and development activities on K2’s projects in the Golden Triangle of British Columbia. The Company also intends to use a portion of the proceeds for general working capital and corporate purposes.
Impact on K2 Gold Corporation
This financing provides K2 with the necessary funds to advance its exploration projects in the Golden Triangle, a prolific mining region in British Columbia. The Company’s flagship project, the Mt Alcock property, is located in the heart of this region and holds significant gold and silver mineralization. With the increased financial resources, K2 can now accelerate its exploration efforts, potentially leading to new discoveries and increased shareholder value.
Impact on the Mining Industry and Investors
The successful closing of K2 Gold Corporation’s private placement financing is a positive sign for the mining industry as a whole. It demonstrates investor confidence in K2’s exploration potential and the broader mining sector. Additionally, this financing could inspire other mining companies to pursue their own financing opportunities, potentially leading to increased exploration activities and discoveries.
Warrant Terms
Each Warrant is exercisable into one common share at an exercise price of C$0.22 for a period of 24 months from the date of issuance. The Warrants are subject to an accelerated exercise provision, which may be triggered if the common shares trade at a price of C$0.35 or higher for a period of 10 consecutive trading days.
Closing Conditions
The Offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a four-month hold period expiring on July 11, 2025.
Conclusion
K2 Gold Corporation’s successful closing of its C$3.67 million private placement financing is a significant step forward for the Company. With the proceeds from this financing, K2 can now accelerate its exploration efforts on its projects in the Golden Triangle, potentially leading to new discoveries and increased shareholder value. This financing also serves as a positive sign for the mining industry as a whole, demonstrating investor confidence and potentially inspiring other companies to pursue their own financing opportunities.
- K2 Gold Corporation closes C$3.67 million private placement financing
- Proceeds to be used primarily for exploration and development activities
- Positive sign for the mining industry
- Accelerated exploration efforts and potential for new discoveries
