Kiplin Metals Closes First Tranche of Private Placement
NEWS RELEASE KIPLIN METALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
August 24th, 2023 – Kiplin Metals Inc. (TSX-V: KIP) (the “Company” or “Kiplin”) is pleased to announce that it has closed a first tranche of its non-brokered private placement (the “Offering”) being conducted under the Listed Issuer Financing Exemption (as defined below). Under the first tranche, the Company has issued 1,250,000 units (each, a “Unit”) at a price of $0.17 per Unit for gross proceeds of $212,500. 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 common share of the Company at a price of $0.23 at any time on or before August 24, 2024.
The Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the “Listed Issuer Financing Exemption”). As a result, the securities issued in the Offering are not subject to a hold period in accordance with applicable Canadian securities laws. An offering document related to the Offering is available under the Company’s profile at www.sedar.com and on the Company’s website at: www.kiplinmetals.com. Prospective investors should read this offering document before making an investment decision.
The Company anticipates completing additional tranches of the Offering, as announced in the news release issued by the Company on August 16, 2023. No finders’ fees were paid in connection with completion of the initial tranche of the Offering, but the Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to further tranches of the Offering.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
For further information, contact the Company at [email protected] or 604-622-1199, or visit the Company’s website at www.kiplinmetals.com.
On behalf of the Board,
Kiplin Metals Inc.
“Peter Born”
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.