Vancouver, B.C. (December 21, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the TSX Venture Exchange has accepted for filing a financing for gross proceeds of $692,250 by issuing 13,845,000 units at a price of $0.05 per unit. Each unit consists of one common share and one transferrable share purchase warrant exercisable at a price of $0.075 for four years from the date of issuance (expiry date of December 21, 2025). All shares and warrants issued pursuant to this financing will be subject to a statutory hold period of 4 months plus a day from the date of closing.
Finder’s Fees of 10% cash 5% broker warrants will be payable to Canaccord Genuity Corp.
No Insiders or Pro-Group members participated in this placement.
Proceeds from the placement will be used for general working capital and further exploration and development activities.
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America. The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 72 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). 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.
For further information please contact:
Arthur Brown, Chairman & Director
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.