Kingfisher Announces Closing of Strategic Investment from Barrick
Rhea-AI Summary
Kingfisher Metals (OTCQB: KGFMF) has closed a non-brokered private placement with Barrick Mining, issuing 15,470,934 units at C$1.35 per Unit for gross proceeds of C$20,885,761. Each Unit includes one common share and one-half warrant, with each whole warrant exercisable at C$1.70 for two years.
Following the financing, Barrick holds 9.9% of Kingfisher’s issued and outstanding shares on a non-diluted basis and 14.1% on a partially-diluted basis, assuming full warrant exercise. Kingfisher agreed to allocate at least 80% of proceeds to exploration and development of the HWY 37 Project in British Columbia, with the remainder for working capital. All securities are subject to a hold period until November 29, 2026, and Kingfisher and Barrick entered into an investor rights agreement. The company reports 156,272,063 shares outstanding as of this news release.
Positive
- Non-brokered placement raises C$20,885,761 in gross proceeds
- Strategic investor Barrick acquires 15,470,934 units
- Barrick holds 9.9% non-diluted and 14.1% partially diluted post-transaction
- At least 80% of proceeds committed to HWY 37 exploration and development
- Two-year warrants at C$1.70 provide potential additional capital inflow
Negative
- Issuance of 15,470,934 new shares dilutes existing shareholders
- Exercise of attached warrants could create further share dilution
- Four-month-and-one-day hold period may limit near-term liquidity for new securities
News Market Reaction – KGFMF
In the Jul 29 session, KGFMF declined 2.77%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2026) - Kingfisher Metals Corp. (TSXV: KFR) (FSE: 9700) (OTCQB: KGFMF) ("Kingfisher" or the "Company") today announced completion of the previously announced non-brokered private placement (the "Placement"), resulting in Barrick Mining Corporation ("Barrick") subscribing for 15,470,934 units of Kingfisher (the "Units") at a price of C
Each Unit consisted of one common share of Kingfisher (each, a "Share") and one-half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant has a term of two years and entitles the holder thereof to purchase one Share for a price of C
With the closing of the Placement, Barrick now owns
The Company has agreed with Barrick to use at least
All securities issued in connection with the Placement are subject to a four-month-and-one-day statutory hold period expiring November 29, 2026 in accordance with applicable securities laws.
In connection with the Placement, Kingfisher and Barrick also entered into an investor rights agreement, all as more particularly described in the Company's news release dated July 21, 2026.
Advisors
Maxit Capital LP acted as financial advisor to the Company. Forooghian + Company Law Corporation acted as legal counsel to Kingfisher, and Davies Ward Phillips & Vineberg LLP and Lawson Lundell LLP acted as legal counsel to Barrick.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian-based exploration company focused on copper-gold exploration in the Golden Triangle, British Columbia. Through outright purchases and option earn-in agreements (Orogen Royalties, Golden Ridge Resources, and Aben Gold), the Company has quickly consolidated one of the largest land positions in the Golden Triangle region with the 933 km² HWY 37 Project and the 202 km² Forrest Kerr Project. Kingfisher also owns (
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
Email: info@kingfishermetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information in this press release include, without limitation, obtaining final approval of the TSX Venture Exchange; and the risks and uncertainties related to the use of proceeds of the Placement.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
The forward-looking information contained in this press release represents the expectations of Kingfisher as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Kingfisher may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306987