WK Mining Corp Closes Private Placement For Gross Proceeds Of $1.69 Million

WK Mining Corp announced the closing of a brokered, private placement (the Offering) announced on June 20, 2012 with PI Financial Corp. and Cormark Securities Inc. as co-leads (the Brokers). The Company completed the sale of 4,828,603 units (the Units) of the Company at a price of $0.35 per Unit for gross proceeds of $1,690,011. Each Unit consists of one common share in the capital of the Company (a Common Share) and one-half of one common share purchase warrant. Each whole common share purchase warrant (a Warrant) entitles the holder to acquire one Common Share at a price of $0.60 for a period of 18 months from the closing date of the Offering. As consideration for their services, the Brokers have received a cash commission of $133,635, representing 7% of the gross proceeds of the Offering plus additional fees. All securities issued pursuant to the Offering will be subject to a four month hold period. The aggregate proceeds raised from the issuance of the Units will be used for exploration expenditures and for general corporate purposes.