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Klondike Gold to raise C$5M in private placement

Klondike Gold Corp. said Aug. 1 that it plans to raise up to C$5 million in a private placement for drilling work at the Lone Star gold project in Canada's Yukon Territory and for working capital purposes.

Part of the placement will be sold on a flow-through basis at 34 cents per unit, with every unit comprising a share and half of a share purchase warrant. Warrants can be exercised for two years at 45 cents.

The nonflow-through portion will have units priced at 29 cents. These consist of a share and half of a warrant, with each whole warrant exercisable at 40 cents for two years.