Kaminak Announces $13.5 Million Investment by Ross Beaty and Zebra Holdings and Investments S.a.r.l.

Kaminak Gold Corporation (TSX VENTURE:KAM) (the "Company") announces that it has
entered into a subscription agreement (the "Subscription Agreements") with each
of Ross Beaty and Zebra Holdings and Investments S.a.r.l., Luxembourg (a company
owned by a Trust whose settlor was the late Adolf H. Lundin) (the "Purchasers")
pursuant to which each of the Purchasers has agreed to make an investment of
C$6,760,000, collectively C$13,520,000, into the Company by way of a
non-brokered private placement (the "Private Placement"). Upon closing of the
Private Placement, each of the Purchasers will own 9.98% of Kaminak's
outstanding shares on a partially diluted basis assuming the exercise of
Warrants (as defined below) acquired by such Purchaser. The Company's cash
position will be approximately C$26.5 million following completion of the
Private Placement. 


The Subscription Agreements provide each Purchaser the right to nominate one
person to the Company's board of directors and a pre-emptive right to
participate in any future proposed equity offering of the Company in order to
maintain its pro rata shareholding, subject to certain exceptions. These rights
can only be exercised by a Purchaser if it owns more than a 5% interest in the
Company.


Pursuant to the Private Placement, each Purchaser will acquire 8,450,000 units
(the "Units") at a price of C$0.80 per Unit. Each Unit will consist of one
common share and one-half of one share purchase warrant (each whole share
purchase warrant a "Warrant"). Each Warrant will entitle the Purchaser to
purchase one additional common share of the Company at a price of $1.20 for a
period of 12 months from closing.


Eira Thomas, Kaminak President & CEO, commented, "Kaminak is very pleased to be
welcoming both Ross Beaty and Zebra Holdings as significant new shareholders, at
a pivotal time in our Company's history. Kaminak recently completed a
Preliminary Economic Assessment for our Coffee Gold Project, which indicates a
robust, high margin, rapid pay-back, 11 year, open pit, heap leach project in
Canada at current gold prices. The Company will now have sufficient funds on
hand to undertake a bankable feasibility study and advance the project towards a
production decision."


All securities issued in the Private Placement will be subject to a statutory
four month hold period. Closing of the Private Placement is subject to receipt
of all regulatory approvals, including approval of the TSX Venture Exchange.


The net proceeds of the Private Placement will be used to continue exploration
and development of Kaminak's Coffee Gold Project in Yukon. 


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


On behalf of the Board of Directors of Kaminak

Eira Thomas, President and CEO

Kaminak Gold Corporation

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.


FORWARD-LOOKING STATEMENTS:

 Certain of the statements and information in this press release constitute
"forward-looking statements" or "forward-looking information" Any statements or
information that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects", "anticipates", "believes", "plans", "estimates", "intends",
"targets", "goals", "forecasts", "objectives", "potential" or variations thereof
or stating that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of historical fact and
may be forward-looking statements or information. Forward looking statements or
information related to, among other things the closing of the Private Placement
and the use of proceeds of the Private Placement. 


Forward-looking statements or information are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those reflected in the forward-looking statements or
information, including, without limitation, the need for additional capital by
the Company through financings, and the risk that such funds may not be raised;
the speculative nature of exploration and the stages of the Company's
properties; the effect of changes in commodity prices; regulatory risks that
development of the Company's material properties will not be acceptable for
social, environmental or other reasons and the efforts and abilities of the
senior management team. This list is not exhaustive of the factors that may
affect any of the Company's forward-looking statements or information. Although
the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated, described or intended. Accordingly, readers
should not place undue reliance on forward-looking statements or information.


The Company's forward-looking statements and information are based on the
assumptions, beliefs, expectations and opinions of management as of the date of
this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kaminak Gold Corporation
Tony Reda
Vice-President of Corporate Development
Toll Free: 1.888.331.2269 or Direct: 604.646.4534
info@kaminak.com
www.kaminak.com
Kaminak Gold Corporation (TSXV:KAM)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024