TORONTO--(BUSINESS WIRE)--Kirkland Lake Discoveries (TSX-V: KLDC; OTC: KLKLF) (“Kirkland Lake” or the “Company”) is pleased to announce the results of the Company’s Annual and Special Meeting of Shareholders held October 31, 2023 (the “Meeting”). A total of 23,409,117 common shares of the Company, or approximately 26.41% of the total number of issued and outstanding common shares, were represented at the Meeting.
At the Meeting, shareholders approved all resolutions, including the election of all six management nominees to the board of directors, the re-appointment of Crowe MacKay LLP as auditor for the ensuing year, and the approval of the Company’s 10% rolling stock option plan.
Stock Option Grant
The Company also announces that in accordance with the Company’s stock option plan, an aggregate of 4,800,000 stock options to purchase common shares of the Company were granted to certain directors, officers, contractors and consultants of the Company. The stock options, which fully vest upon the date of grant, are exercisable for a period of five years until October 31, 2028, at a price of $0.12 per common share and remain subject to TSX Venture Exchange approval.
OTC Markets Symbol Change
Further, the Company announces that its common shares, previously trading on the OTC Market under the symbol “WARGF”, now trade under the symbol “KLKLF” on the OTC Market. The change of symbol was made to better align with the Company’s name. No action is required by shareholders with respect to the symbol change.
The Company continues to trade on the TSX Venture Exchange under the symbol “KLDC”.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. is a TSX Venture Exchange listed company that has recently consolidated a district-scale and highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts, with 200+ million ounces of gold produced to date.1 The properties are host to regional and property-scale mineralized structures that are considered second-order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.
The properties assembled include the 100%-owned Lucky Strike Property, Goodfish-Kirana, the Arnold property, and the optioned KL West (KLW) and KL Central (KLC) properties. The KLDC land position comprises approximately 38,000 ha, over 1,338 claims and 29 patented claims and ranks the Company as one of the largest landholder in the Kirkland Lake region.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Kirkland Lake Discoveries, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, the receipt of TSX Venture Exchange approval of the grant of stock options. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Kirkland Lake Discoveries, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, changes in general economic, market and business conditions, and the ability to obtain any requisite approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Kirkland Lake Discoveries does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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1 Canada’s Gold Exploration Frontier: The Abitibi Greenstone Belt - https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-abitibi-greenstone-belt/
