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Kingsmen Resources ( (TSE:KNG) ) has issued an announcement.
Kingsmen Resources has arranged a C$10 million bought-deal private placement with Red Cloud Securities, issuing 4,444,445 units at C$2.25 per unit, each comprising one common share and half a warrant exercisable at C$3.00 for three years. Red Cloud also holds an option to purchase up to an additional 888,889 units for roughly C$2 million, potentially increasing the total financing, with proceeds earmarked for exploration and advancement of the Las Coloradas and Almoloya projects in Chihuahua, Mexico, as well as working capital, providing the junior explorer with fresh capital to accelerate field work and strengthen its financial position ahead of key project milestones.
More about Kingsmen Resources
Kingsmen Resources is a discovery‑driven mineral exploration company focused on unlocking the potential of its two 100%-owned precious metal districts, Las Coloradas and Almoloya, located in the historic Parral mining region of Chihuahua, Mexico. The company targets precious‑metal‑rich systems in a well-established mining camp, positioning itself as an early‑stage explorer with leverage to exploration success in this district.
Average Trading Volume: 42,192
Technical Sentiment Signal: Buy
Current Market Cap: C$70.31M
For detailed information about KNG stock, go to TipRanks’ Stock Analysis page.