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Toronto, Ontario--(Newsfile Corp. - June 12, 2025) - KO Gold Inc. (CSE: KOG) ("KO Gold" or the "Company") is pleased to provide an update on its previously announced non-brokered private placement (the "Private Placement") of up to 10,000,000 units ("Units"), as originally announced on March 27, 2025.
The Units will be issued at a price of C$0.20 per Unit for gross proceeds of up to C$2,000,000. Each Unit will consist of one common share (a "Share") and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional Share at a price of C$0.25 for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds from the Private Placement for general working capital purposes and to fund ongoing exploration and drilling programs in the Otago Gold District, New Zealand. The Company may close the Private Placement in traches and anticipates closing the first tranche on or about June 30, 2025.
Finder's fees in the form of cash and/or Warrants, on the same terms as those issued in the Private Placement, may be paid to qualified parties in connection with the offering. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance.
About KO Gold Inc.
KO Gold is a Canadian junior exploration company listed on the CSE under "KOG". The Company's strategy is to acquire and explore highly prospective gold properties within the Otago Gold District in New Zealand. KO Gold has eight 100%-owned prospecting and exploration permits within the Otago Gold District for a combined land package of 740 km2. The Company's Smylers and Glenpark EPs are located adjacent to OceanaGold's Macraes Gold Mine and the Carrick EP hosts the historic Carrick Goldfield which holds promise as a significant gold deposit near Santana Minerals' Bendigo-Ophir Gold Project. KO Gold has spent over C$3M in exploration and drilling on its permits in the Otago Gold District over the past five years including RC and diamond drilling on its Smylers EP.
For further information, please contact:
| Greg Isenor, President and CEO, Director Tel: (902) 832-5555 Email: [email protected] Website: www.kogoldnz.com | KO Gold Inc. Suite 802 - Sun Tower, 1550 Bedford Highway Bedford, Nova Scotia B4A 1E6 Canada |
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "may," "will," "would," "potential," "proposed" and other similar words or statements that certain events or conditions "may" or "will" occur. These forward-looking statements include, but are not limited to, statements regarding the completion of the proposed Private Placement, the intended use of proceeds, and the possible payment of finder's fees. Forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made and are subject to a variety of known and unknown risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the Company's ability to complete the Private Placement on the terms announced (or at all), the receipt of all necessary approvals, market conditions, and the ability to use the proceeds as intended. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Readers are cautioned against attributing undue certainty to forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Actual events or results could differ materially from the Company's expectations or projections.
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