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Kingman Minerals Ltd. Closes Upsized $1.5 Million Non-Brokered Financing, Announces AGM Results and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - Kingman Minerals Ltd. (TSXV...
About this update from Kingman Minerals Ltd.
[{"type":"text","content":"Kingman Minerals Ltd. Closes Upsized $1.5 Million Non-Brokered Financing, Announces AGM Results and Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A) (\"Kingman\" or the \"Company\") is pleased to announce that, further to its news release dated October 1, 2025, it has successfully closed its upsized non-brokered private placement (the \"Offering\"). Financing The Company has raised gross proceeds of $1,500,000 through the issuance of 21,428,500 units (each, a \"Unit\") at a price of $0.07 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.09 for a period of 24 months from the date of issuance.The Company will pay finder's fees totaling $82,558.20 and issue 470,910 non-transferable finder's warrants in connection with certain subscriptions under the Offering.No insiders participated in the Offering.The net proceeds of the offering will be used to finance continued exploration and development activities at the company's Mohave project, including diamond drilling, geophysics, geochemical sampling and permitting, as well as for general working capital. The Mohave Project includes the historic high-grade Rosebud mine in Mohave County, Arizona, where bonanza-grade underground sampling of up to 688 grams per tonne gold and 468 g/t silver has been previously reported.All securities issued pursuant to the offering will be subject to a statutory four-month hold period. The offering, including finders' fees and warrants, is subject to final approval by the TSX Venture Exchange.\"We've been overwhelmed by the support shown for this financing,\" stated Simon David Studer, CEO. \"Demand exceeded our expectations, and we had to make some difficult cuts to stay within the approved amount. We're grateful to our shareholders and new investors for their confidence in Kingman's projects and team.\"Annual General Meeting ResultsThe Company also reports that its Annual General Meeting of Shareholders was held on October 21, 2025, in Vancouver, British Columbia. All resolutions set out in the management information circular dated September 10, 2025, were duly passed, including:Setting the number of...