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Kingsmen Resources Announces Closing of Bought Deal Private Placement for Gross Proceeds of C$13 Million
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2026) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY) ("Kingsmen", or the "Company") is pleased to announce the closing of its previously announced "bought deal" basis private placement (the "Offering") for gross proceeds of C$13,000,000.50, which includes the exercise in full of the underwriter's option. Pursuant to the Offering, the Company sold 5,777,778 units of the Company (the "Units") at a price of C$2.25 per Unit
About this update from Kingsmen Resources Limited
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 11, 2026) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY) ("Kingsmen", or the "Company") is pleased to announce the closing of its previously announced "bought deal" basis private placement (the "Offering") for gross proceeds of C$13,000,000.50, which includes the exercise in full of the underwriter's option. Pursuant to the Offering, the Company sold 5,777,778 units of the Company (the "Units") at a price of C$2.25 per Unit (the "Offering Price").","length":588,"tagName":"p"},{"type":"text","content":"Each Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of C$3.00 at any time on or before February 11, 2029.","length":314,"tagName":"p"},{"type":"text","content":"Red Cloud Securities Inc. ("Red Cloud") acted as sole underwriter and bookrunner under the Offering. As consideration for their services, Red Cloud received aggregate cash fees of C$910,000.04 and 404,444 non-transferable common share purchase warrants (the "Broker Warrants"). Each Broker Warrant is exercisable to acquire one common share of the Company at the Offering Price at any time on or before February 11, 2029.","length":441,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds of the Offering for the exploration and advancement of the Company's Las Coloradas and Almoloya projects in the historic Parral region of Chihuahua, Mexico as well as for working capital and general corporate purposes.","length":266,"tagName":"p"},{"type":"text","content":"In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The securities issued from the sale of Units to purchasers resident in Canada under the Listed Issuer Financing Exemption are immediately fre...