K2 Gold upsizes private placement to CDN$25.25 million

K2 Gold Corporation (TSXV: KTO) increased the size of its non-brokered private placement to up to CDN$25.25 million from a previously announced amount, according to a company statement.

The Vancouver-based mining company will issue up to 36,071,429 common shares at CDN$0.70 per share. The offering will be available to purchasers in Canadian provinces and territories except Quebec, using the listed issuer financing exemption under National Instrument 45-106.

K2 Gold plans to use proceeds for exploration at its Mojave and Si2 projects and general corporate purposes. The Mojave Project is a 5,830-hectare oxide gold project in California, while the Si2 Project is located in Nevada within the Walker Lane Trend.

The offering may also be extended to jurisdictions outside Canada on a private placement basis, subject to applicable laws. Securities not issued under the listed issuer financing exemption will be subject to a four-month hold period under Canadian securities laws.

The company may pay finders' fees to eligible arm's length finders in accordance with securities laws and TSX Venture Exchange policies. Completion of the offering requires customary closing conditions, including regulatory approvals from the TSXV.

K2 Gold's management team previously delivered transactions worth over $2.6 billion, including Great Bear Resources' $1.8 billion sale to Kinross and Kaminak Gold's sale to Goldcorp for approximately $520 million.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an available exemption.

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