NK

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED
STATES


New Klondike Exploration Ltd. (TSX VENTURE:NK). Further to the news releases
dated September 25, 2013, October 9, 2013 and November 22, 2013, New Klondike
Exploration Ltd. ("New Klondike or the Company") is pleased to announce that it
has closed the first tranche of the previously announced non-brokered private
placement (the "First Closing") of up to 4,000,000 flow-through units (each a
"Flow-Through Unit") and up to 3,000,000 non-flow-through units of securities of
the Company (each a "Unit") at a price of $0.05 per Unit for gross proceeds of
up to $350,000.


Each Unit will consist of one common share in the capital of the Company (each,
a "Common Share") and one Common Share purchase warrant (each, a "Warrant").
Each Warrant will entitle the holder thereof to purchase one Common Share (each,
a "Warrant Share") at an exercise price of $0.08 per Warrant Share, at any time
before the date that is 12 months from the date of issuance of the Warrant and
thereafter, at an exercise price of $0.12 per Warrant Share, at any time before
5:00 p.m. (Toronto time) on the date that is 24 months from the date of issuance
of the Warrant. 


In the First Closing, subscribers purchased 1,080,000 Units for aggregate gross
proceeds of $54,000. Directors and officers of New Klondike subscribed for
880,000 of the Units and as a group they now hold 21.5% of the Company's issued
shares.


The gross proceeds from the sale of the Units will be used towards funding a
surface exploration and a drilling program on the Company's Goldstorm Project,
for property maintenance costs and for general corporate purposes.


Subsequent to the closing of the Private Placement, New Klondike had 18,422,845
Common Shares issued and outstanding. The Common Shares issued in connection
with the Private Placement are subject to a four month hold period expiring on
March 30, 2014. 


About New Klondike

New Klondike is an Ontario focused mineral exploration and development company
with a primary objective of exploring for and developing base and precious metal
deposits on its Goldstorm Project. The Company presently has 17,342,845 common
shares issued and outstanding. 


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.


Neither 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 press release.


Forward-Looking Information

This news release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future including, without limitation, statements relating to
the Company's expected use of the proceeds, are forward-looking statements.
These forward-looking statements reflect the current expectations or beliefs of
the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of significant risks and
uncertainties and other factors that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking statements, and
even if such actual results are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to differ materially
from current expectations include, but are not limited to, the failure of the
Company to spend the proceeds of the Offering as indicated herein and general
business and economic uncertainties. 


Any forward-looking statement speaks only as at the date on which it is made
and, expect as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
New Klondike Exploration Ltd.
Michael Coulter
President
416-368-3332
info@newklondike.com
www.newklondike.com

New Klondike Exploration Ltd. (TSXV:NK)
Historical Stock Chart
From May 2024 to Jun 2024

New Klondike Exploration Ltd. (TSXV:NK)
Historical Stock Chart
From Jun 2023 to Jun 2024