(TheNewswire)
August 15, 2022 – TheNewswire - Vancouver, Canada – Klondike Silver Corp.(the “Company”) (TSXV:KS) (OTC: KLSVF ) further to the newsrelease of January 16, 2020 the Company has requested and received$300,000 from an existing Debenture holder. The principal of theDebenture rises to $1,357,181 with the receipt of these additionalfunds. The terms of the debenture include possible conversion. Theconversion terms for this advance are, at the discretion of theholder, for the first year at a deemed price of $0.05. Each unitwould be made up of a common share and a share purchase warrant. Each warrant would be exercisable in to one common share at a priceof $0.05 per warrant and expire on Dec 31, 2024. After the firstyear the unit exercise price will increase to $0.10 with no change inthe warrant exercise price. Proceeds will be used to advance theCompany’s Silvana Silver Zinc Lead project and for general workingcapital.
About KlondikeSilver
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Klondike’s Silvana Mine Silver ZincLead project is located in South EasternB.C.
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Klondike’s 116 square kilometer claim block is 138 km north of theTrail B.C. smelter.
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Klondike Silver is exploring fromunderground , along the 9 km “Main Lode”. The “MainLode” is the most prolific mineralized structure in the SlocanMining Camp.
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There are 13 historical mines thatare situated along the “Main Lode” which have produced886,000 kg of silver, 95 million kg of zinc and 117 million kg lead sofar. (source: BC MINFILE).
Additional information can be found on Klondike Silver’s website: www.klondikesilver.com
On Behalf of the Board of Directors | Contact Information |
Klondike Silver Corp. | Corporate Inquiries: |
"Thomas Kennedy" | Dale Dobson: (604) 682-2928 |
Thomas Kennedy, B.Comm., J.D. | |
CEO, Director |
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. The TSX Venture Exchange has not reviewed the contentof this news release and therefore does not accept responsibility orliability for the adequacy or accuracy of the contents of this newsrelease.
Caution Regarding Forward-Looking Information
This news release includes certain information that mayconstitute “ forward-looking information ”under applicable Canadian securities legislation. Forward-lookinginformation includes, but is not limited to, statements aboutstrategic plans, future work programs and objectives and expectedresults from such work programs. Forward-looking informationnecessarily involve known and unknown risks, including, withoutlimitation, risks associated with general economic conditions;inability to access sufficient capital from internal and externalsources, and/or inability to access sufficient capital on favourableterms; and other risks.
Forward-looking information is necessarily based upon anumber of estimates and assumptions that, while considered reasonable,are subject to known and unknown risks, uncertainties, and otherfactors which may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookinginformation and the risks identified in the Company’s continuousdisclosure record. There can be no assurance that such informationwill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such information.Accordingly, readers should not place undue reliance onforward-looking information. All forward-looking information containedin this news release is given as of the date hereof and is based uponthe opinions and estimates of management and information available tomanagement as at the date hereof. The Company disclaims any intentionor obligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,except as required by law.
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