K2 Gold Corporation Closes C$25.25 Million Financing

Core Viewpoint - K2 Gold Corporation has successfully closed its LIFE Offering, raising gross proceeds of CDN$25,250,000 through the sale of 36,071,429 common shares at a price of CDN$0.70 per share, which will be utilized for exploration projects and general corporate purposes [1][2]. Group 1: Offering Details - The LIFE Offering involved the sale of 36,071,429 common shares at CDN$0.70 each, resulting in gross proceeds of CDN$25,250,000 [1]. - The offering was conducted under the listed issuer financing exemption, applicable in all Canadian provinces and territories except Quebec [3]. - The company paid finder's fees totaling CDN$1,271,200 to various arm's length finders for their assistance in the offering [4]. Group 2: Use of Proceeds - The net proceeds from the LIFE Offering will be allocated towards exploration activities at the Mojave and Si2 projects, as well as for general corporate purposes [2]. Group 3: Company Overview - K2 Gold Corporation is part of Discovery Group and has a management team with a track record of over CDN$2.6 billion in gold transactions [7]. - The Mojave Project is a 5,830-hectare oxide gold project in California, with significant drilling results including 6.68 g/t Au over 45.72m at the Dragonfly Zone [8]. - The Si2 Project is located in Nevada and has been identified for further drilling to explore higher-grade potential below historical intercepts [9]. Group 4: Regulatory and Compliance - The closing of the LIFE Offering is subject to customary conditions, including regulatory approvals and acceptance by the TSX Venture Exchange [5]. - The common shares issued will not be subject to a statutory hold period under Canadian securities laws [5].