K2 Warrant Expiration Acceleration Results in Proceeds of $2.5 Million

K2 Gold Corporation is pleased to report that, it has received gross proceeds of approximately $2.5 million from the exercise of 6,305,000 common share purchase warrants (“Warrants”). 

The Warrants were issued by K2 pursuant to the previously announced private placement that closed on August 27, 2019.  The Company elected to accelerate the expiry date of the Warrants to August 22, 2020, as announced on July 23, 2020. 

Following the exercise and expiry of the Warrants, K2 has 51,703,634 shares outstanding and no outstanding share purchase warrants.

The Company intends to use the gross proceeds to fund exploration activities at the Mojave gold project (“Mojave”) located in Inyo County, Southern California, and for general corporate purposes.

About K2

K2 is a well financed gold and silver exploration company with approximately $3.4M cash and projects in SW USA, Yukon and Alaska.  The Company is focused on the Mojave property in California, a 5,830 hectare oxide gold project with base metal targets.  The location of Mojave enables the Company to have year-round news flow on multiple previously recognized surface gold targets that have been successfully drilled in the past by majors BHP and Newmont.  Besides affording immediate drill targets, the property also includes undrilled historical trench results including 4.2 g/t gold over 42.7m.

On behalf of the Board of Directors,

“Stephen Swatton”

President and CEO

K2 Gold Corporation.

For further information about K2 Gold Corporation or this news release, please visit our website at k2gold.com or contact Investor Relations at 604-354-2491, or by email at info@k2gold.com.

K2 Gold Corporation is a proud member of Discovery Group. For more information please visit: discoverygroup.ca.