Kirkland Lake Discoveries Announces Closing of Non-Brokered Private Placement for $12,721,316

Core Viewpoint - Kirkland Lake Discoveries Corp. has successfully closed a non-brokered private placement, raising a total of $12,721,316.65 through the issuance of various units and shares, which will be used to advance exploration activities in the Kirkland Lake region [1][2][6]. Group 1: Financing Details - The Offering included the issuance of 7,600,000 charity flow-through units at $0.37 each, 25,529,727 hard dollar units at $0.25 each, and 11,756,283 flow-through shares at $0.30 each [1]. - Each Unit consists of one common share and one-half of a common share purchase warrant, with a warrant exercise price of C$0.40 for 36 months [2]. - An insider acquired 4,000,000 FT Units for $1,480,000, qualifying the transaction as a related party transaction under MI 61-101 [3]. Group 2: Use of Proceeds - Funds from FT Units and FT Shares will be allocated to eligible Canadian exploration expenses, while proceeds from Units will be used for general corporate purposes [6]. Group 3: Marketing and Exploration Strategy - The Company has entered into a marketing contract with Revolution Small Cap Marketing for a term of 365 days, with a payment of $100,000 plus applicable taxes [8][9]. - Kirkland Lake Discoveries Corp. has a 400-km² exploration portfolio in the Kirkland Lake region, focusing on drill-ready targets supported by historical mineral showings and geophysical anomalies [10][11].