Kingfisher Announces Closing of Upsized Private Placement
Rhea-AI Summary
Kingfisher Metals Corp (TSX-V:KFR, OTCQB:KGFMF) has successfully closed an upsized non-brokered private placement, raising C$1,894,535 through the issuance of 11,482,030 units at C$0.165 per unit. Each unit includes one common share and half a warrant, with whole warrants exercisable at C$0.30 for 24 months.
The company paid C$4,410 in cash commissions and issued 26,726 finder warrants to eligible finders. Several insiders participated in the offering, including CEO Dustin Perry (121,212 units), DCJL Management (30,303 units), Alejandro Emiliano Gubbins Cox (1,818,182 units), Crescat Portfolio Management (606,060 units), and Stichting Depositary Plethora Precious Metals Fund (750,000 units).
Positive
- Successfully raised C$1,894,535 through private placement
- Strong insider participation with significant investments
- Offering was upsized due to high demand
Negative
- Potential dilution of existing shareholders due to new share issuance
- 24-month warrant exercise period at C$0.30 could create future selling pressure
News Market Reaction – KGFMF
In the trading session that priced this news, KGFMF gained 4.17%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / January 16, 2025 / Kingfisher Metals Corp. (TSX-V:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce that further to its news releases dated December 10, 2024, December 17, 2024, and January 10, 2025, that due to demand the Company increased its previously announced non-brokered private placement (the "Offering") and has closed the Offering through the issuance of 11,482,030 units of the Company (the "Units") at a price of C
Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for 24 months from the closing date of the Offering at an exercise price of C
In connection with the Offering, commissions on the sale of the Units were paid to eligible finders (the "Finders") in accordance with the policies of the TSX Venture Exchange and applicable securities law. The Company paid a total cash commission of C
All securities issued pursuant to the Offering, including common shares issuable upon the exercise of warrants or Finder Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the Offering.
Multilateral Instrument 61-101 - Related Party Transaction
Dustin Perry, CEO, is an insider of the Company and participated in the Offering by purchasing 121,212 Units for an aggregate subscription price of C
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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. The Company has quickly consolidated one of the largest land positions in the region at the contiguous 819 km2 HWY 37 Project. Kingfisher also owns (
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
E-Mail: info@kingfishermetals.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are 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 statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, 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 statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news 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. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Kingfisher Metals Corp.
View the original press release on ACCESS Newswire