Kingsmen Resources Announces $1.5 Million Private Placement

Rhea-AI Summary

Kingsmen Resources (TSXV: KNG, OTCQB: KNGRF) has announced a non-brokered private placement financing to raise up to $1.512 million. The financing involves issuing up to 2,100,000 units at $0.72 per unit, with each unit comprising one common share and one-half of a common share purchase warrant.

Each whole warrant will allow holders to purchase an additional common share at $0.89 for a two-year period from closing. The proceeds will be used to advance the company's Las Coloradas Silver/Gold project in Mexico and for working capital. The securities will be subject to a four-month hold period and regulatory approvals, including TSX Venture Exchange acceptance.

Positive

• Secured potential funding of $1.512 million for project advancement
• Warrant exercise could provide additional future funding at $0.89 per share
• Proceeds allocated to advance Las Coloradas Silver/Gold project development

Negative

• Potential dilution for existing shareholders through new share issuance
• Financing at $0.72 per unit may put downward pressure on stock price

Vancouver, British Columbia--(Newsfile Corp. - April 15, 2025) - KINGSMEN RESOURCES LTD. (TSXV: KNG), (OTCQB: KNGRF) ( FSE: TUY) ("KINGSMEN" or the "COMPANY") announces that further to a price reservation filed on March 17, 2025 the Company has arranged a non-brokered private placement financing (the "Financing") of up to 2,100,000 units (each a "Unit"), at a price of $0.72 per Unit, to raise up to $1,512,000. Each Unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase an additional common share at a price of $0.89 for a period of two years from closing. Finder's fees may be payable and net proceeds will be used to further advance its Las Coloradas Silver/Gold project in Mexico and for working capital.

All securities issued in the Financing are subject to a four-month hold period and to all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.

This press 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 Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements.

About Kingsmen Resources

Kingsmen Resources is a mineral exploration company focused on advancing its 100% held Las Coloradas Project located in the prolific mining district of Parral Mexico. The project hosts the historic past producing high-grade silver mine, Las Coloradas. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on -trend, high- grade deposits. In addition, the company has a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc.in Mexico. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.

On behalf of the Board,

"Scott Emerson"

Scott Emerson, President & CEO
Phone: 604- 685-9316
Email: se@kingsmenresources.com

Forward-Looking Statement:

Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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 news.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248655

FAQ

What is the size of Kingsmen Resources (KNGRF) private placement announced in April 2025?

Kingsmen Resources announced a $1.512 million private placement, offering 2,100,000 units at $0.72 per unit.

What are the terms of KNGRF's warrant offering in the April 2025 financing?

Each whole warrant allows purchase of one additional common share at $0.89 for two years from closing.

How will Kingsmen Resources (KNGRF) use the proceeds from the 2025 private placement?

Proceeds will be used to advance the Las Coloradas Silver/Gold project in Mexico and for working capital.

What is the hold period for securities issued in KNGRF's April 2025 private placement?

Securities issued in the financing are subject to a four-month hold period and regulatory approvals.