Toronto, Ontario--(Newsfile Corp. - October 3, 2025) - Kirkland Lake Discoveries Corp. (TSXV: KLDC) ("Kirkland" or the "Company") announces that it has increased the size of its previously announced private placement pursuant to which it will now offer units ("Units"), premium flow-through units ("Premium Units") and flow-through shares ("FT Shares") to raise gross proceeds of up to C$14 million (the "Offering").
The upsized Offering will now consist of the issuance of Premium Units at a price of C$0.37 per Premium Unit, Units at a price of $0.25 per Unit and FT Shares at a price of $0.30 per FT Share, in any combination to raise aggregate gross proceeds of up to $14 million. Each Unit shall consist of one common share of the Company and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder thereof to acquire one additional common share of the Company (which shall not be a "flow-through" share) at an exercise price of C$0.40 for a period of 36 months from the date of issuance. Each Premium Unit shall consist of one common share of the Company (a "Unit FT Share") and one-half of one share purchase warrant, with each whole share purchase warrant (a "FT Warrant") entitling the holder thereof to acquire one additional common share of the Company (which shall not be a "flow-through" share) at an exercise price of C$0.40 for a period of 36 months from the date of issuance. Each of the Unit FT Shares, FT Shares and FT Warrants will qualify as a "flow-through share" for the purposes of the Income Tax Act (Canada).
The Offering is scheduled to close on or about October 16, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Company may pay finder's fees on a portion of the Offering in an amount to be determined. The finder's fees shall be paid in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States unless an exemption from such registration is available.
For further information, please contact:
Stefan Sklepowicz
Chief Executive Officer
www.kirklandlakediscoveries.com
+1 226 979 3515
stefan@kirklandlakediscoveries.com
Neither 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, the Company's future exploration plans with respect to its property interests and the timing thereof, the prospective nature of the projects, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Kirkland to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining government or regulatory approvals or financing; and other risks and uncertainties. These risks and uncertainties and the additional risks described in the Company's most recently filed annual and interim MD&A are not and should not be construed as being exhaustive.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and the Company assumes no obligation to update any forward-looking statements, except as required by applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268936
SOURCE: Kirkland Lake Discoveries Corp.
