K9 Gold Announces Private Placement Backed by Palisades Goldcorp to Accelerate Exploration at Stony Lake
K9 Gold Corp. has arranged a non-brokered private placement of up to 3,174,604 units at a price of 31.5 cents per unit, for gross proceeds of up to $1-million. Each unit will consist of one common share and one share purchase warrant, each whole share purchase warrant being exercisable for a period of three years at a price of 42 cents per share. Palisades Goldcorp Ltd. has agreed to purchase two million units of the private placement.
About Palisades Goldcorp
Palisades is Canada’s resource-focused merchant bank. Palisades’ management team has a demonstrated record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
Proceeds from the private placement will be used for exploration on the Stony Lake East gold project.
The private placement may include finder’s fees of up to 8 per cent cash.
All securities issued pursuant to this financing are subject to a four-month hold period from the date of issuance. The private placement is subject to approval from the TSX Venture Exchange.
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