VRIFY has announced it has entered into agreement with Kirkland Lake Gold to launch of the KL Gold Deal Room to enhance the process of identifying and evaluating potential investment opportunities.
The initiative utilises the VRIFY Deal Room platform, a cloud-based 3D presentation and collaboration technology that helps strategic investors and growth-oriented companies, like Kirkland Lake Gold, identify new opportunities to complement existing asset portfolios.
“At VRIFY, we’re in the business of disrupting the way things have been done and are thrilled to launch the first ever Deal Room with Kirkland Lake Gold. It may be a tough market for commodities but there is no shortage of compelling opportunities out there waiting to be discovered.
“By leveraging accessible technology, we’re making it possible for growth-focused companies like Kirkland Lake Gold to attract, assess and refine large numbers of investment opportunities,” explained Stephen de Jong, Founder, President and CEO of VRIFY.
“We believe informed decisions are better decisions, and by utilizing VRIFY Deal Room, Kirkland Lake Gold will be one of the most informed companies in the world.”
Tony Makuch, President & CEO at Kirkland Lake Gold, commented: “At Kirkland Lake Gold, we operate two of the highest-grade, lowest-cost gold mines in the world. We are investing aggressively to continue to grow these operations and ensure they reach their full value potential. With our high levels of profitability, cash flow and a strong balance sheet, we are also looking to grow shareholder value by investing in new, high-quality gold projects that, with the benefit of our capital and expertise, have the potential to become world-class mining operations.
We know there are many worthwhile opportunities out there and we are interested in learning more about them. That’s why we have partnered with VRIFY to launch the KL Gold Deal Room.”
KL Gold Deal Room Submission Requirements
Kirkland Lake Gold is the first company to launch a Deal Room powered by VRIFY. Any company, big or small, with an asset that needs capital and meets the following criteria, is invited to make a submission to the KL Gold Deal Room:
Commodity: Gold, including projects with by-products.
Jurisdiction: Australia, Canada, other parts of North America, as well as Europe, New Zealand and South America.
Stage of Development: Prepared to evaluate investment into or acquisition of value accretive assets at any stage (exploration, resource definition, PEA/PFS/FS, development and production).
Investment Structure: Willing to consider various investment structures including, but not limited to: earn-in, joint venture, strategic equity investment, acquisition.
All submissions must be in the format of a the VRIFY Deck, a presentation tool that incorporates 360-degree imagery and interactive 3D models with exploration and development stage layers, alongside traditional corporate content. The format will allow Kirkland Lake Gold’s corporate development team to quickly develop an informed and holistic investment thesis on a broad range of companies and assets. This means they can focus time and detailed due diligence efforts on only the most compelling opportunities.
How the KL Gold Deal Room Works
Companies that fit the KL Gold Deal Room criteria and wish to make a submission must first enter into a client service agreement with VRIFY under its standard terms and conditions. Together, VRIFY and the participating company will create a VRIFY Project, a virtual representation of its asset, and then build a VRIFY Deck for submission.
Kirkland Lake Gold will select participants to move into the second round of the evaluation process, which will involve an in-depth, in-person or remote presentation using the VRIFY Connect conferencing feature.
Should Kirkland Lake Gold want to proceed with advanced evaluation with any participant, they may be asked to engage in a confidentiality agreement and subsequent detailed due diligence, including the potential for data room access and site visits.
Submissions are visible to Kirkland Lake Gold only; however, participating companies must acknowledge all content within each submission is publicly disclosed. All submissions, regardless of being invited to a second round of evaluation or not, will be given feedback. If a participating company is not invited to the second round, its submission will be removed from the KL Gold Deal Room. Their VRIFY Deck can still be used for marketing and business development needs beyond the KL Gold Deal Room, or to submit to future Deal Rooms.