Kingfisher Announces Closing of Final Tranche of Oversubscribed Private Placement

Vancouver, BC / ACCESSWIRE / May 28, 2024 / Kingfisher Metals Corp. (TSX-V:KFR)(FSE:970)(OTCQB:KGFMF) has announced the completion of the final tranche of its oversubscribed private placement. The closing involved the issuance of 6,869,998 units at a price of C$0.175 per unit, generating gross proceeds of C$1,202,249.65. Combined with the first tranche, the total proceeds amount to C$2,108,462.08.

Each unit consists of one common share and one-half of a transferable common share purchase warrant, exercisable to acquire one common share at C$0.30 within 24 months from the closing date. Finder commissions included a cash commission of C$630.00 and the issuance of 3,600 finder warrants.

Crescat Portfolio Management LLC, an insider, participated by purchasing 2,857,142 units for C$500,000. This constitutes a "related party transaction" under MI 61-101, but the company is exempt from formal valuation and minority shareholder approval requirements.