On January 24, 2023, Klondike Gold Corp. closed the transaction. The company issued 1,000,000 non-flow-through units at a price of CAD 0.10 per unit for gross proceeds of CAD 100,000 in its final tranche.

The transaction included participation from seven placees, including two placees from existing insider involvement for 2,900,000 units. The company has received CAD 352,400 of which CAD 24,900 is flow-through funds. Each unit comprised of one common share and one share purchase warrant.

A total of 1,000,000 share purchase warrants issued in connection with the Second Tranche are exercisable at a price of CAD 0.20 per share until January 24, 2025. All securities issued in connection with the Second Tranche are subject to a four month and one day statutory hold period expiring on May 25, 2023, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.