Kingfisher Announces Upsize to Private Placement Financing
Kingfisher Announces Upsize to Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISEMMINATION IN THE UNITED STATES
VANCOUVER, British Columbia - May 26, 202 2 - Kingfisher Metals Corp. (TSX -V: KFR) (FSE: 970)
(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news release
dated April 27, 2022, and due to investor demand, it has upsized its non -brokered private placement (the
“Offering”) from gross proceeds of up to C$3.0 million to up to C$4.9 million through the issuance of charity
flow-through units at a price of C$0.28 per charity unit and flow -through units at a price of C$0.24 per FT
unit of the company (collectively, the “Offered Units”).
The aggregate gross proceeds raised from the Offering will be used before 202 4 for general exploration
expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15)
of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures”
within the meaning of the Tax Act.
All terms of the Offering remain the same, provided that the Company intends to issue up to a total of
17,891,671 Offered Units . Each Offered Unit will be comprised of one common share of the Company
(each, a “Common Share”) and one -half of one common share purchase warrant (each whole warrant, a
“Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per
Common Share at any time up to 24 months following the closing date of the Offering.
In connection with the Offering, the Company may pay finder’s fees to certain finders, which fees would be
a cash payment equal to up to 7% of the gross proceeds raised by purchasers introduced by such finders,
and the issuance of non -transferable compensation warrants equal to up to 7% of the number of Offered
Units purchased by purchasers introduced by such finders (each, a “ Compensation Warrant”). Each such
Compensation Warrant will be exercisable for one Common Share at an exercise price of C$0.3 5 per
Common Share at any time prior up to 24 months following the closing date of the Offering.
The Offering is expected to close on or about June 7, 2022, and is subject to approval of the TSX Venture
Exchange. All securities issued pursuant to the Offering and as payment of any finder’s fees, including
Common Shares issuable upon the exercise of Warrants or Compensation Warrants, if any, will be subject
to a hold period of four months and one day after the date of closing of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will no t be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused
on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale
projects that offer potential exposure to high -grade gold, copper, silver, and zinc. The Company currently
has 85,173,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX -
V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward -looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or implied by such forward -looking
statements. Forward-looking statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects," "plans," "anticipates," "believes," "inte nds," "estimates,"
"projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "coul d" or
"should" occur.
Forward-looking statements in this news release include, among others, statements relating to expectations
regarding the expected closing date of the Offering, and other statements that are not historical facts. By
their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or implied by such forward -
looking statements. Such factors and risks include, among others: the Company m ay require additional
financing from time to time in order to continue its operations which may not be available when needed or
on acceptable terms and conditions acceptable; compliance with extensive government regulation;
domestic and foreign laws and re gulations could adversely affect the Company's business and results of
operations; the stock markets have experienced volatility that often has been unrelated to the performance
of companies and these fluctuations may adversely affect the price of the Company's securities, regardless
of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the Company
as of the date of this news release and, accordingly, is subjec t to change after such date. Readers should
not place undue importance on forward-looking information and should not rely upon this information as of
any other date. The Company undertakes no obligation to update these forward -looking statements in the
event that management's beliefs, estimates or opinions, or other factors, should change.