GOLD: Kirkland Lake financing increased to $30M

KIRKLAND LAKE, Ontario – Kirkland Lake Gold has agreed to increase the size of its bought deal offering to $30 million, up from the $25 million originally proposed.

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KIRKLAND LAKE, Ontario – Kirkland Lake Gold has agreed to increase the size of its bought deal offering to $30 million, up from the $25 million originally proposed.

The terms of the original agreement with the underwriters, led by National Bank Financial and Macquarie Capital Markets Canada, have been revised to 6.9 million KLGold common shares at a price of $4.35 each. The underwriters have also been granted an overallotment that, if exercised, will bring the gross proceeds to approximately $35 million.

KLGold intends to use the net proceeds for general corporate purposes and working capital. Having invested heavily in development, infrastructure and exploration over the last few years, the company's mine has a further life of 10 years.

Readers are welcome to examine the latest KLGold corporate presentation at KLGold.com

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