Kirkland Lake Gold Inc.
KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit Portfolio

AGORACOM News Flash

AGORACOM Small Cap TV “Best Of The Best”

Stock Picks Of The Week Ended – September 14, 2014

AGORACOM Founder, George Tsiolis and Chief Market Commentator, Allan Barry Go Via Satellite to discuss and debate Allan’s Best picks this week. Companies Included on this week’s show are:

Watch It Now!

Message: Kirkland Lake Gold Closes C$7.5 Million Flow Through Financing

Ballerina
Rank: [?]
Vice President
Points: [?]
10568
Rating: [?]
Votes: 179 Score: 3.2
  • Currently 3.3/5 Stars.
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Kirkland Lake Gold Closes C$7.5 Million Flow Through Financing

posted on Jul 03, 14 12:04PM
Kirkland Lake Gold Closes C$7.5 Million Flow Through Financing

KIRKLAND LAKE, ONTARIO--(Marketwired - July 3, 2014) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI) (AIM:KGI), an operating and exploration gold mining company, today announces the closing of its previously announced flow-through financing for gross proceeds of C$7.5 million (the "Offering"). National Bank Financial ("NBF") acted as lead underwriter in connection with the Offering. The Company issued an aggregate of 1,923,205 common shares (the "Offered Shares") at a price of C$3.90 per Offered Share (including 128,205 Offered Shares issued pursuant to the exercise of NBF's option).

Application has been made to the AIM Market of the London Stock Exchange for the Offered Shares issued pursuant to the Offering to be admitted for trading commencing on July 7, 2014. The Offered Shares will rank pari passu in all respects with the existing issued shares. Following admission, the increased issued share capital of the Company will be 72,074,117 common shares.

It is expected that trading of the Offered Shares issued under the Offering will commence on the Toronto Stock Exchange following the expiry of the four month hold period applicable under Canadian securities legislation.

Kirkland Lake intends to use the net proceeds to advance its surface exploration program.

About the Company

Kirkland Lake Gold's corporate goal is to create a self-sustaining and long-lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by mining to the reserve grade, generating profits and free cash flow for the shareholders. The Company will also look to take advantage of its increased infrastructure capacity in the appropriate gold price environment. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years. Over the last several years, the Company has invested significant capital to improve the infrastructure of the business including upgrading the production hoist, skips, mill, underground mobile equipment and capital development. From initial discovery to present day, there have been over 24 million ounces of gold mined from the Kirkland Lake camp while the current reserve and resource provides for more than 10 years of mining with significant exploration upside.

New Message

Please login to post a reply

AGORACOM Quick Tips

Bullish On China? AGORACOM Launches ChinaSecurities.com ... Check It Out

President's D.D.

New feature: Hub Presidents can add important links here.