Kirkland Lake Gold Files Early Warning Report
September 28 2018 - 7:00AM
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or
the “
Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today
announced that, as a result of the completion of the plan of
arrangement (the “Arrangement”) involving Bonterra Resources Inc.
(“Bonterra”) and Metanor Resources Inc. (“Metanor”), and pursuant
to which, among other things, Bonterra acquired all of the issued
and outstanding common shares of Metanor (“Metanor Shares”), the
Company now holds in aggregate 37,540,290 common shares of Bonterra
(“Bonterra Shares”) and 6,136,072 share purchase warrants
(“Warrants”) exercisable to acquire an additional 9,841,646
Bonterra Shares. This represents a 9.44% interest in Bonterra on an
undiluted basis and an 11.63% interest on a partially diluted
basis, assuming the exercise of the Warrants held by the Company.
Prior to the completion of the Arrangement,
Kirkland Lake Gold held: (i) 17,857,000 Bonterra Shares,
representing 7.63% of Bonterra on a non-diluted basis; and (ii)
12,272,143 Metanor Shares and 6,136,072 Warrants, representing
12.05% of Metanor on a non-diluted basis and 17.16% of Metanor on a
partially diluted basis, assuming the exercise of the Warrants.
Pursuant to the Arrangement, Kirkland Lake Gold
received 1.6039 Bonterra Shares in exchange for each Metanor Share
held by the Company (19,683,290 Bonterra Shares in the aggregate)
and each Warrant held by the Company has been adjusted pursuant to
the terms of the Arrangement and is now exercisable to acquire
1.6039 Bonterra Shares (9,841,646 Bonterra Shares in the
aggregate). Kirkland Lake Gold may acquire additional securities of
Bonterra either on the open market or through private acquisitions
or sell the securities either on the open market or through private
dispositions in the future depending on market conditions,
reformulation of plans and/or other relevant factors.
This press release is being issued in pursuant
to National Instrument 62-103 – The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues, which also
requires a report to be filed with the regulatory authorities in
each jurisdiction in which the Issuer is a reporting issuer
containing information with respect to the foregoing matters (the
“Early Warning Report”). A copy of the Early
Warning Report will be filed on the Bonterra’s profile on SEDAR and
may also be obtained by contacting the Company at 416-840-7884 or
by email at info@klgold.com.
About Kirkland Lake Gold
Ltd.
Kirkland Lake Gold Ltd. is a mid-tier gold
producer that in 2018 is targeting over 635,000 ounces of gold
production from mines in Canada and Australia. The production
profile of the company is anchored from two high-grade, low-cost
operations, including the Macassa Mine located in Northeastern
Ontario and the Fosterville Mine located in the state of Victoria,
Australia. Kirkland Lake Gold's solid base of quality assets is
complemented by district scale exploration potential, supported by
a strong financial position with extensive management and
operational expertise.
Cautionary Note Regarding
Forward-Looking Information
This press release contains statements which
constitute “forward-looking information” within the meaning of
applicable securities laws, including statements regarding the
plans, intentions, beliefs and current expectations of Kirkland
Lake Gold with respect to future business activities and operating
performance. Forward-looking information is often identified by the
words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” or similar
expressions and, in this press release, include information
regarding the sale or purchase of additional securities of Bonterra
in the future or other acquisitions and/or dispositions of the
shares to be completed on the open market or by private
transaction.
Investors are cautioned that forward-looking
information is not based on historical facts but instead reflect
the Company's management's expectations, estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made. Although Kirkland Lake Gold
believes that the expectations reflected in such forward-looking
information are reasonable, such information involves risks and
uncertainties, and undue reliance should not be placed on such
information, as unknown or unpredictable factors could have
material adverse effects on future results, performance or
achievements of the Company. Among the key factors that could cause
actual results to differ materially from those projected in the
forward-looking information are the following: the future
development of the Canadian and Australian operations; the
potential anticipated annual increase in production; future
exploration activities; changes in general economic, business and
political conditions, including changes in the financial markets;
changes in applicable laws; and compliance with extensive
government regulation. This forward-looking information may be
affected by risks and uncertainties in the business of Kirkland
Lake Gold and market conditions. This information is qualified in
its entirety by cautionary statements and risk factor disclosure
contained in filings made by Kirkland Lake Gold, including Kirkland
Lake Gold's annual information form dated December 31, 2017 and the
annual consolidated financial statements and related MD&A for
the period ended June 30, 2018, which are filed with the securities
regulatory authorities in certain provinces of Canada and available
at www.sedar.com.
Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results may
vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although Kirkland
Lake Gold has attempted to identify important risks, uncertainties
and factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended. Kirkland Lake Gold does not intend, and do
not assume any obligation, to update this forward-looking
information except as otherwise required by applicable law.
For more information, please
contact:
Anthony Makuch, President, Chief Executive
Officer & DirectorPhone: +1 416-840-7884E-mail:
tmakuch@klgold.com
Mark Utting, Vice President, Investor
RelationsPhone: +1 416-840-7884E-mail: mutting@klgold.com Website:
www.klgold.com
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