Kingman Minerals Ltd. Announces AGM Extension and Non-Brokered Private Placement
Kingman Minerals (OTCQB: KGSSF) has announced two significant developments. First, the company received approval to extend its Annual General Meeting (AGM) deadline to October 21, 2025. Second, Kingman plans to conduct a non-brokered private placement to raise up to $504,000.
The private placement will consist of up to 7.2 million units priced at $0.07 per unit. Each unit includes one common share and one warrant exercisable at $0.09 for 24 months. The company may pay 6% finder's fees and issue equivalent finder's warrants. Proceeds will support working capital needs and advance exploration plans at the Mohave Project, including the historic Rosebud Mine in Arizona.
Kingman Minerals (OTCQB: KGSSF) ha annunciato due sviluppi importanti. In primo luogo, la società ha ottenuto l'approvazione per estendere la scadenza della sua Assemblea Generale Annuale (AGM) fino al 21 ottobre 2025. In secondo luogo, Kingman prevede di effettuare un collocamento privato non intermediato per raccogliere fino a 504.000 dollari.
Il collocamento privato consisterà in un massimo di 7,2 milioni di unità al prezzo di 0,07 dollari per unità. Ogni unità comprende un'azione ordinaria e un warrant esercitabile a 0,09 dollari per 24 mesi. La società potrà corrispondere commissioni di intermediazione del 6% e emettere warrant equivalenti per tali commissioni. I proventi saranno utilizzati per soddisfare le esigenze di capitale circolante e per avanzare i piani di esplorazione presso il Progetto Mohave, inclusa la storica miniera Rosebud in Arizona.
Kingman Minerals (OTCQB: KGSSF) ha anunciado dos desarrollos importantes. Primero, la compañía recibió la aprobación para extender la fecha límite de su Junta General Anual (AGM) hasta el 21 de octubre de 2025. Segundo, Kingman planea realizar una colocación privada sin intermediarios para recaudar hasta $504,000.
La colocación privada consistirá en hasta 7.2 millones de unidades a un precio de $0.07 por unidad. Cada unidad incluye una acción común y un warrant ejercitable a $0.09 durante 24 meses. La compañía podrá pagar comisiones de intermediación del 6% y emitir warrants equivalentes por dichas comisiones. Los fondos se destinarán a cubrir necesidades de capital de trabajo y a avanzar en los planes de exploración en el Proyecto Mohave, incluida la histórica mina Rosebud en Arizona.
Kingman Minerals (OTCQB: KGSSF)는 두 가지 중요한 발전 사항을 발표했습니다. 첫째, 회사는 연례 총회(AGM) 마감일을 2025년 10월 21일까지 연장하는 승인을 받았습니다. 둘째, Kingman은 중개인 없이 최대 504,000달러를 조달하기 위한 사모 발행을 계획하고 있습니다.
사모 발행은 단가 0.07달러로 최대 720만 단위로 구성됩니다. 각 단위는 보통주 1주와 24개월 동안 0.09달러에 행사할 수 있는 워런트 1개를 포함합니다. 회사는 6%의 소개 수수료를 지급하고 이에 상응하는 워런트를 발행할 수 있습니다. 자금은 운전자본 필요를 지원하고 Mohave 프로젝트의 탐사 계획을 진행하는 데 사용되며, 여기에는 애리조나의 역사적인 Rosebud 광산이 포함됩니다.
Kingman Minerals (OTCQB: KGSSF) a annoncé deux développements importants. Premièrement, la société a obtenu l'approbation pour prolonger la date limite de son Assemblée Générale Annuelle (AGM) jusqu'au 21 octobre 2025. Deuxièmement, Kingman prévoit de réaliser un placement privé sans intermédiaire pour lever jusqu'à 504 000 $.
Le placement privé comprendra jusqu'à 7,2 millions d'unités au prix de 0,07 $ par unité. Chaque unité comprend une action ordinaire et un warrant exerçable à 0,09 $ pendant 24 mois. La société pourra verser des frais de recherche de 6 % et émettre des warrants équivalents. Les fonds serviront à soutenir les besoins en fonds de roulement et à faire avancer les plans d'exploration du projet Mohave, incluant la mine historique Rosebud en Arizona.
Kingman Minerals (OTCQB: KGSSF) hat zwei bedeutende Entwicklungen bekannt gegeben. Erstens erhielt das Unternehmen die Genehmigung, die Frist für die Jahreshauptversammlung (AGM) bis zum 21. Oktober 2025 zu verlängern. Zweitens plant Kingman eine nicht vermittelte Privatplatzierung zur Kapitalbeschaffung von bis zu 504.000 US-Dollar.
Die Privatplatzierung umfasst bis zu 7,2 Millionen Einheiten zu einem Preis von 0,07 US-Dollar pro Einheit. Jede Einheit besteht aus einer Stammaktie und einem Warrant, der für 24 Monate zum Preis von 0,09 US-Dollar ausgeübt werden kann. Das Unternehmen kann eine Vermittlungsgebühr von 6 % zahlen und entsprechende Vermittlungs-Warrants ausgeben. Die Erlöse dienen der Deckung des Betriebskapitals und der Förderung der Explorationspläne des Mohave-Projekts, einschließlich der historischen Rosebud-Mine in Arizona.
- Private placement to raise up to $504,000 for working capital and exploration
- Warrants provide potential additional funding at $0.09 per share over 24 months
- Extension of AGM deadline provides better preparation time for corporate matters
- Dilutive effect of issuing up to 7.2 million new units
- Additional dilution possible through 6% finder's fees and warrants
- Insider participation in private placement raises related party transaction concerns
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2025) - Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A) ("Kingman" or the "Company") announces that, further to TSX Venture Exchange ("Exchange") review, the Company has received approval to extend the deadline to hold its Annual General Meeting ("AGM") to no later than October 21, 2025. The Company also announces its intention to complete a non-brokered private placement of up to
The Financing
Subject to the approval of the TSX Venture Exchange (the "Exchange"), the Company intends to complete the Offering by issuing up to 7,200,000 units (each, a "Unit") at a price of
The Company may pay finder's fees equal to
The Company will use the net proceeds of the Offering for working capital and to advance preparation and permitting of an exploration plan at its flagship Mohave Project, inclusive of the historic Rosebud Mine in Arizona.
Closing of the Offering is subject to all applicable regulatory approvals, including approval of the 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.
It is anticipated that certain insiders of the Company 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
Upcoming AGM
Under TSX Venture Exchange Policy 3.2, the Company was required to hold its Annual General Meeting (AGM) by August 21, 2025. To comply with this requirement while ensuring sufficient time for planning, the Company submitted a formal request to the Exchange to extend the deadline. The Exchange reviewed and approved this request, granting an extension to October 21, 2025.
This extension allows the Company to complete the necessary corporate, regulatory, and administrative preparations required to convene the AGM in compliance with applicable legislation and Exchange policies. As part of this process, the Company will establish and announce a formal record date, which defines the list of shareholders entitled to vote at the meeting. The Company will also prepare and distribute the official notice of meeting in accordance with statutory timelines and disclosure requirements.
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 fully owned historic Rosebud Mine, located in the Music Mountains, Mohave County, Arizona. High-grade gold and silver veins were discovered in the area in the 1880's and were mined mainly in the late 20's and 30's. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. The Company believes that to explore the full potential of the area, drilling and sampling along strike and depth extensions of existing and additional vein structures is essential.
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/258649
FAQ
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