Metanor gains Kirkland Lake as strategic investor as it closes $8.85m placement

Project developer Metanor Resources has gained midtier gold miner Kirkland Lake Gold as a strategic investor, the company disclosed on Monday as it announced the closing of a private placement to raise funds for its Bachelor and Barry projects, in Quebec. Kirkland Lake acquired 10 357 143 units of Metanor to the value of $7.25-million, which the miner says is for investment purposes, and it now owns or controls about 13.7% of the junior firm.