February 01, 2017 Klondike Silver - Closes Private Placement
Klondike Silver Corp. (the "Company") (TSX.V: KS) is pleased to announce that it has closed the private placement previously announced on January 17 and 19, 2017. The Company has issued 26,000,000 units ("Units") for gross proceeds of $1,300,000. The terms of the initial $1,000,000 (class A units) are as follows: 20,000,000 units at a price of $0.05 per unit. All class A units consist of one common share and one non-transferable share purchase warrant, with each warrant exercisable for a period of five years from the closing at a price of $0.05 per share. The terms of the additional $300,000 (class B units) are as follows: 6,000,000 units at a price of $0.05 per unit. 5,600,000 of the class B units are flow-through. All class B units (flow-through or non flow-through) consist of one common share and one non flow-through, non-transferable share purchase warrant, with each warrant exercisable for a period of five years from the closing at a price of $0.055 per share.
Finder's fees of $115,000 will be paid in cash to qualified parties. All securities issued are subject to a four month hold period expiring June 1, 2017.
For additional information please visit the company website www.klondikesilver.com
Dale Dobson: (604) 682.2928
On Behalf of the Board of Directors
Klondike Silver Corp.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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