Unit consists of one common share (the “Unit”) and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.085 per Common Share for a period of two years.
TSXV: KNG
OTCQB: TUMIF
Suite 1305, 1090 West Georgia Street | Vancouver, BC, V6E 3V7, Canada
Tel: (604) 685-9316| Fax: (604) 683-1585
NEWS RELEASE
Vancouver, British Columbia, Canada, October 15, 2019 – Kingsmen Resources Ltd.
(TSXV:KNG) ( OTCQB:TUMIF) (the “Company” or “Kingsmen”) , is pleased to announce that it
has closed the second tranche of the private placement financing (the “Private Placement”)
announced in the Company’s news release dated August 15th. In this second tranche 1,428,730
units (the “Units”) were issued at a price of $0.065 per Unit for gross proceeds of $92,868. Each
Unit consists of one common share (the “Unit”) and one common share purchase warrant (the
“Warrant”). Each Warrant entitles the holder to purchase one common share of the Company
at a purchase price of $0.085 per Common Share for a period of two years.
A total of 7,774,114 units were issued for total gross proceeds of $505,318 in this placing.
All securities issued to purchasers under the Private Placement w ill be subject to a four -month
hold period commencing from the closing date pursuant to applicable securities legislation and
the policies of the TSX Venture Exchange (the “TSXV”).
The Company plans to use the net proceeds for the Company's La Trini project in the
Hostotipaquillo mining district in Mexico as well as for general working capital and corporate
purposes.
For additional information, please contact:
Scott Emerson, President and CEO at (604) 603-0074 or
Email: [email protected]
Website: www.kingsmenresources.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward –Looking Statements:
This news release contains certain forward-looking statements, including statements regarding the Private Placement
of Units and the Company’s ability to complete the Private Placement and receiving acceptance from the TSX Venture
Exchange to the completion of the Private Placement and the Company’s proposed plans for the use of proceeds.
These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results
contemplated by the forward -looking statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include the Company does not complete all or any part of the Private Placement,
the Company does not receive regulatory acceptance to the Private Placement; changes in metal prices, changes in
the availability of funding, unanticipated changes in key management personnel and general economic conditions.
Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the
forward-looking statements. When relying on forward -looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any forward looking statements, oral or
written, made by itself or on its behalf.