Kingman Minerals Ltd. Announces AGM Extension and Non-Brokered Private Placement
Kingman Minerals (OTCQB: KGSSF) has increased its previously announced non-brokered equity financing from $504,000 to $613,000 due to excess demand. The company will offer up to 8,757,143 units at $0.07 per unit, with each unit comprising one common share and one warrant exercisable at $0.09 for 24 months.
The offering includes potential finder's fees of 6.0% of gross proceeds and finder's warrants. Proceeds will fund the advancement of the company's Mohave Project, including the historic Rosebud Mine in Arizona, covering technical reporting, drill plan optimization, and permit applications. The offering requires TSX Venture Exchange approval and includes a four-month statutory hold period.
Kingman Minerals (OTCQB: KGSSF) ha aumentato il suo finanziamento azionario non collocato precedentemente annunciato da 504.000 a 613.000 $ per rispondere alla domanda in eccesso. La società offrirà fino a 8.757.143 unità a 0,07 $ ciascuna, con ogni unità composta da una azione ordinaria e una warrant esercitabile a 0,09 $ per 24 mesi.
L'offerta prevede possibili commissioni per intermediari pari al 6,0% del ricavato lordo e warrant per gli intermediari. I proventi serviranno a finanziare l'avanzamento del progetto Mohave dell'azienda, incluso il storico Rosebud Mine in Arizona, coprendo report tecnici, ottimizzazione del piano di perforazione e pratiche per i permessi. L'offerta è soggetta all'approvazione della TSX Venture Exchange e include un periodo di blocco statutario di quattro mesi.
Kingman Minerals (OTCQB: KGSSF) ha aumentado su financiación de capital no intermediada anunciada anteriormente de 504.000 a 613.000 $ debido a la demanda excedente. La compañía ofrecerá hasta 8.757.143 unidades a 0,07 $ por unidad, con cada unidad compuesta por una acción común y una warrant ejercitable a 0,09 $ durante 24 meses.
La oferta incluye posibles comisiones de buscadores del 6,0% del producto bruto y warrants para buscadores. Los fondos se destinarán a avanzar el proyecto Mohave de la compañía, incluido el histórico Rosebud Mine en Arizona, y cubrirán informes técnicos, optimización del plan de perforación y solicitudes de permisos. La oferta requiere la aprobación de la TSX Venture Exchange e incluye un período de retención estatutario de cuatro meses.
Kingman Minerals (OTCQB: KGSSF)는 초과 수요로 인해 기존에 발표한 비중개 주식 자금 조달액을 504,000달러에서 613,000달러로 증액했습니다. 회사는 최대 8,757,143단위를 단위당 0.07달러에 발행할 예정이며, 각 단위는 보통주 1주와 24개월 동안 행사가 0.09달러인 워런트 1주로 구성됩니다.
이번 발행에는 총수익의 6.0%에 해당하는 소개 수수료와 소개인용 워런트가 포함될 수 있습니다. 수익금은 기술 보고서, 시추 계획 최적화, 허가신청 등을 포함한 회사의 모하비 프로젝트 발전에 사용되며, 애리조나의 역사적 Rosebud 광산도 포함됩니다. 이 제안은 TSX 벤처 익스체인지의 승인이 필요하며 4개월의 법적 보유 기간이 적용됩니다.
Kingman Minerals (OTCQB: KGSSF) a augmenté son financement en actions non intermédiaire précédemment annoncé, passant de 504 000 $ à 613 000 $ en raison d'une demande excédentaire. La société proposera jusqu'à 8 757 143 unités à 0,07 $ l'unité, chaque unité comprenant une action ordinaire et un warrant exerçable à 0,09 $ pendant 24 mois.
L'offre prévoit d'éventuels frais de recherche de 6,0% du produit brut ainsi que des warrants pour les apporteurs. Les fonds permettront de faire progresser le projet Mohave de la société, y compris la mine historique Rosebud en Arizona, et couvriront les rapports techniques, l'optimisation du plan de forage et les demandes de permis. L'offre nécessite l'approbation de la TSX Venture Exchange et comporte une période de blocage statutaire de quatre mois.
Kingman Minerals (OTCQB: KGSSF) hat seine zuvor angekündigte nicht vermittelte Eigenkapitalfinanzierung wegen Übernachfrage von 504.000 auf 613.000 $ erhöht. Das Unternehmen wird bis zu 8.757.143 Einheiten zu je 0,07 $ anbieten, wobei jede Einheit aus einer Stammaktie und einer für 24 Monate bei 0,09 $ ausübbaren Warrant besteht.
Das Angebot sieht mögliche Vermittlergebühren in Höhe von 6,0% des Bruttoerlöses sowie Vermittler-Warrants vor. Die Mittel werden zur Weiterentwicklung des Mohave-Projekts verwendet, einschließlich der historischen Rosebud-Mine in Arizona, und dienen der technischen Berichterstattung, Optimierung des Bohrplans und Antragstellung für Genehmigungen. Das Angebot bedarf der Genehmigung der TSX Venture Exchange und unterliegt einer viermonatigen gesetzlichen Sperrfrist.
- Increased offering size by 21.6% to $613,000 due to strong demand
- Warrant exercise price of $0.09 represents 28.6% premium to unit price
- Proceeds will advance flagship Mohave Project with concrete development plans
- Insider participation demonstrates management confidence
- Significant dilution through issuance of up to 8,757,143 new units
- Additional dilution possible through 6% finder's warrants
- Offering price of $0.07 may represent a discount to market price
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2025) - Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A) ("Kingman" or the "Company") is pleased to announce that, as a result of excess demand, it has upsized its previously announced (July 11, 2025) non-brokered equity financing (the "Offering"). Total gross proceeds of the Offering are now expected to be approximately
Up to 8,757,143 units (each a "Unit") will be offered at a price of
The Company may pay finder's fees equal to
Use of Proceeds
The net proceeds of the Offering will be used for general working capital and to advance the Company's flagship Mohave Project, inclusive of the historic Rosebud Mine in Arizona. Planned expenditures include preparation of an NI 43-101 compliant technical report, updating and optimizing the previously permitted drill plan, re-applying for drill permits, and related exploration preparation activities.
Closing of the Offering is subject to all applicable regulatory approvals, including approval of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
Related Party Participation
It is anticipated that certain insiders of the Company and related parties will acquire Units. Such participation will each be considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Private Placement due to the fair market value of the related party participation being below
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
ABOUT
Kingman Minerals Ltd. (TSXV: KGS) is a publicly traded exploration and development company focused on precious metals in North America. The Company's flagship project is the
For further information please contact:
Simon D. Studer
Interim CEO, President & Director
simondavidstuder@gmail.com
Phone: 0041-44-585-2484
Corporate Office
Tel: (604) 685-7720
Email: info@kingmanminerals.com
Web: www.kingmanminerals.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 Statement Regarding Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to: the terms of the Private Placement; the anticipated use of proceeds; the anticipated insider participation in the Private Placement; the completion of the Private Placement; and the approval of the TSX Venture Exchange.
All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although Kingman believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since Kingman can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in Kingman's periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from Kingman's expectations include risks related to the completion of the Private Placement, including TSXV approval; risks associated with the business of Kingman; risks related to reliance on technical information provided by Kingman; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingman's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.com).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264222
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