King’s Bay Announces Private Placement
Suite 1450 – 789 West Pender Street, Vancouver, BC, V6C 1H2 | Tel: 604.681.1568 | Fax: 604.681.8240
King’s Bay Announces Private Placement
Vancouver, May 22nd , 2018 – King’s Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1) , (the “Company”)
announces that that it has arranged a non -brokered private placement for up to 8,333,333 Units of the Company at a
price of $0.06 per Unit for gross proceeds of up to $500,000.
Each Unit will consist of one common share and one share purchase warrant (a “Warrant”). Eac h Warrant will entitle
the holder to purchase one additional common share of the Company at a price of $0.1 0 per share for a period of 24
months from closing. Proceeds of the private placement will be used for working capital.
The Company has been considering opportunities being presented to the Company in the cannabis industry as a result of
the involvement of certain of the Company’s directors in successful , publicly listed cannabis companies. The Company
is not currently a party to any binding agreement, term sheet or letter of intent . However, as opportunities present
themselves, management is taking the time to consider whether those opportunities would better serve the interests of
the shareholders and lead to quicker and possibly greater success for the Company.
The private placement is subject to the approval of the TSX Venture Exchange. There are no material facts or material
changes that have not been generally disclosed by the Company.
About King’s Bay
King’s Bay is a mineral exploration company that is focused on the exploration of cobalt and other high ‐tech metals in
North America. The Company’s head office is in Vancouver, Canada.
On Behalf of the Board
Kevin Bottomley President & Chief Executive Officer
O: 604 681 1568
For Investment Inquiries please contact:
Jared Rushton
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of
risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking
information. Forward looking statements in this news release include that we may find opportunities in the cannabis industry; and that we will raise
funds pursuant to a private placement. Risks that could change or prevent these statements from coming to fruition include that the Company may not
receive regulatory approval for the placement, there may be no interested investors, we may not raise sufficient funds to carry out our plans, we may
not find any good opportunity in the cannabis industry, if we find an opportunity we may be outbid for it or we may not reach agreement, and even if
we carry on the cannabis business, the business may fail or we may not get required regulatory approval. The forward-looking information contained
herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or
circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the T
SX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.