K2 Gold upsizes private placement to CDN$25 million

K2 Gold Corporation (TSXV: KTO) announced it has increased the size of its previously announced non-brokered private placement to up to CDN$25 million due to strong investor demand, according to a company statement.

The Vancouver-based gold exploration company will issue up to 35.7 million common shares at CDN$0.70 per share. The shares will be offered to purchasers in Canadian provinces and territories except Quebec under the listed issuer financing exemption.

K2 Gold intends to use proceeds from the offering for exploration at its Mojave and Si2 projects, as well as general corporate purposes. The company expects to close the offering as soon as practicable, subject to regulatory approvals including TSX Venture Exchange approval.

The Mojave Project spans 5,830 hectares in California and includes oxide gold targets. K2's recent 17-hole drilling program yielded results including 6.68 grams per tonne gold over 45.72 meters at the Dragonfly Zone.

The Si2 Project is located in Nevada's Walker Lane Trend and consists of 65 lode claims under option from Orogen Royalties Inc. and 53 contiguous claims staked by K2 in 2022. The company corrected information from a December 22, 2025 news release regarding the property composition.

K2 Gold may pay finders' fees to eligible parties in connection with the offering. Securities not issued under the Canadian exemption will be subject to a four-month hold period under applicable securities laws.

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