Kirkland Lake Discoveries Plans CA$10 Million Financing, CA$5 Million Common Share Offering
Kirkland Lake Discoveries (KLDC.V) after trade Thursday announced a private placement to raise up to about CA$10 million through the sale of flow-through shares.The company plans to offer flow-through shares at CA$0.40 each and special flow-through shares at CA$0.483 each, in any combination.Kirkland said it also plans to raise up to about CA$5 million through the sale of up to nearly 14.3 million common shares at CA$0.35 per share.The agents have an option to sell an additional CA$2.25 million of shares on the same terms, exercisable in whole or in part at any time up to 48 hours before the offering closes, according to the statement.The offering is set to close around Oct. 8, subject to required approvals, including approval from the TSX Venture Exchange, the company said.Kirkland shares closed up CA$o.05, or 14%, to CA$0.42 on the TSX Venture Exchange.
