Kingfisher Metals Corp. Announces $2 Million Private Placement Offering

Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) is set to raise up to $2 million through a non-brokered private placement of flow-through units (FT Units) and units. The FT Units are priced at $0.045, while the units are available at $0.035. This offering aims to fund the company's exploration projects in British Columbia by incurring eligible Canadian exploration expenses before December 31, 2025.

Each FT Unit includes one flow-through common share and half a warrant, and each unit comprises one common share and half a warrant. Warrants from this offering are exercisable at $0.06 for 24 months following the close date. The offering, pending necessary approvals, is open to investors in Canadian provinces under specific exemptions.

The proceeds from the FT Units will be used for qualifying expenses under the Income Tax Act (Canada) to support Kingfisher's British Columbia projects. Specifically, these are aimed at critical mineral mining and BC flow-through mining expenditures. Kingfisher intends to renounce these expenditures for the benefit of FT Unit subscribers by December 31, 2024.

This private placement is subject to regulatory approvals, including the TSX Venture Exchange's nod. Securities issued will adhere to a standard four-month hold period. Additionally, finders facilitating the offering might receive cash fees or warrants, pending TSX Venture Exchange approval. Notably, this offering is not open to U.S. purchasers due to regulatory restrictions.