Klondike Silver Corp. has assembled a quality portfolio of silver and silver-rich polymetallic properties in historic mineral districts of North America, and is applying advanced exploration technologies to add value to these core assets.
Message: Klondike Silver Corp. Provides Update
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November 13, 2013 |
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November 13th 2013: Klondike Silver Corp. (TSX-v symbol: KS) (Klondike) would like to provide a general update given the recent halt to trading. Klondike was halted for failing to file the audited annual Financial Statement and MD&A on time. Klondike is now completely up to date with all of its filings and is proceeding with business as usual. With the recent shut down at the mill (announced July 3rd 2013) due to the downward pressure on the price of Silver, Klondike has been focusing its efforts on raising funds for the recently announced private placement (announced September 10th 2013). In addition to this Klondike is also working towards potential land consolidation deals in the Sandon area as well as preparing to file work to protect the land claims for years to come. Review of terms for the Private Placement The Company will raise up to $750,000 through the issuance of up to 12,500,000 non-flow-through and flow-through units priced at $0.06 and $0.12 per unit respectively. Each non-flow-through unit will consist of one non-flow-through common share and one full non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of four years at a price of $0.06 per share. Each flow-through unit will consist of one flow-through common share and one half (1/2) non-transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share for a period of four years at a price of $0.12 per share. About Klondike Silver Corp. Klondike Silver Corp. has assembled a quality portfolio of silver properties throughout Canada, most notably, in the historic Slocan Mining District southeastern British Columbia. This historic camp has produced more than 24 million ounces of silver since the first discoveries in the late 1800s. Klondike Silver is the dominant land-holder controlling a majority of the historic camp and the fully permitted, 100% owned "Sandon Milling Complex". The Company owns ground covering approximately 150 past producing mines and extensive underground structures. The past-producing Silvana, Wonderful, Hinckley Mines, Payne, Rambler, Van Roi/Hewitt, Vulture, Argenta, Jackson Basin, and the Carnation and several other land packages with significant mining potential are all capable of being put back into production at some level, whether it be through the exclusive efforts of Klondike or a joint effort with a partner. Currently Klondike views the Carnation land package and a potential discovery in the "Silver Mile" as its most significant asset. For additional information please visit the company website www.klondikesilver.com CONTACT INFORMATION Corporate Inquiries: Mark Luchinski: (604) 685-2222 Email: mark.luchinski@klondikesilver.com On Behalf of the Board of Directors Klondike Silver Corp. "Richard Hughes" Richard Hughes President and Director "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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