GOLD MINING: Kirkland Lake raises $50M for expansion

ONTARIO – Kirkland Lake Gold, headquartered in the town of the same name, is raising $50 million with which to expand its gold mining operations. The underwriters, led by Dundee Securities, have agreed to purchse 50,000 convertible unsecured subordinated debentures at a cost of $1,000 for each. The underwriters also have a 15% overallotment option.

The debentures will mature on June 30, 2017, and carry an interest rate of 6% per year. The holders also have the option to convert them into common shares of KLGold at a conversion price of $15 per share.

Please visit KLGold.com for more information.