K2 Gold Announces Upsize of Non-Brokered Private Placement to up to CDN$25 Million

Core Viewpoint - K2 Gold Corporation has announced an increase in its non-brokered private placement due to strong investor demand, aiming to issue up to 35,714,286 common shares at a price of CDN$0.70 per share, targeting total gross proceeds of approximately CDN$25,000,000 [1] Offering Details - The Offered Shares will be available to purchasers in Canadian provinces and territories, excluding Quebec, under the listed issuer financing exemption [2] - The Offered Shares will not be subject to a statutory hold period in Canada, except for a four-month hold period applicable under the TSX Venture Exchange [2] - The Offering may also be available in jurisdictions outside Canada on a private placement basis, adhering to applicable laws [4] Use of Proceeds - The net proceeds from the Offering are intended for exploration at the Mojave and Si2 projects, as well as for general corporate purposes [5] Project Highlights - The Mojave Project is a 5,830-hectare oxide gold project in California, with successful drilling results including 6.68 g/t Au over 45.72m at the Dragonfly Zone [10] - The Si2 Project is located in Nevada and has shown potential for higher-grade gold at depth, with historical drilling only testing upper levels [11] - The Wels Project has intersected gold in all 12 drill holes during the 2023 Reverse Circulation drilling program, indicating a new mineralized corridor [13] Company Background - K2 Gold Corporation is led by a team with a track record of over $2.6 billion in gold transactions, including significant sales by Great Bear Resources and Kaminak Gold [9] - K2 is part of Discovery Group, known for the discovery of over 10 million ounces of gold [9]