Kirkland Lake Discoveries Corp. has entered into an engagement letter with Canaccord Genuity Corp. to raise up to approximately $15,000,000 through a brokered best efforts private placement.

The financing package consists of flow-through common shares and special flow-through shares priced at $0.40 and $0.483 respectively, alongside common shares priced at $0.35. The company has also granted the syndicate of agents an option to sell up to an additional $2,250,000 of offered securities on the same terms, exercisable up to 48 hours before the closing date.

Gross proceeds raised from the flow-through share issuances will be directed toward eligible Canadian exploration expenses at the Mirado project in Ontario. Kirkland Lake Discoveries acquired a 100% undivided interest in the asset in March 2026, which hosts a historical inferred resource of 10.6 million tonnes grading 1.29 grams per tonne gold for 442,000 ounces. The company is required to incur these qualifying expenditures by December 31, 2027, and renounce them to subscribers no later than the end of 2026. Net proceeds from the common share tranche are intended to fund general corporate purposes.

The offering is expected to close on or about October 8, 2026, subject to customary conditions including receipt of approval from the TSX Venture Exchange. All securities issued under the placement will be subject to a four-month and one-day hold period from the closing date.

The financing supports ongoing evaluation work across the property, where 23 drill holes are currently pending assay results following recent exploration activity.

Read the full announcement: Kirkland Lake Discoveries Corp. Announces Brokered Private Placement