KGL Resources Announces Repricing of Proposed Private Placement

Executive Summary

• KGL Resources Ltd. raised the subscription price for its proposed private placement from C$0.075 to C$0.105 per common share.
• The company will now offer up to 9,500,000 shares for gross proceeds of up to C$997,500 (previously up to C$750,000).
• Proceeds are earmarked for debt repayment, corporate reporting/compliance costs, acquisition/search activities, and general working capital.

Key Details

• New Pricing: Subscription price increased to C$0.105 per common share.
• Offering Size: Up to 9,500,000 common shares.
• Gross Proceeds Target: Up to C$997,500 (previously up to C$750,000).
• Use of Proceeds:
• Repay indebtedness owed to President/CEO Arnold Kondrat – C$382,720.
• Fund public company reporting and compliance expenses.
• Finance search for and investigation of prospective assets or businesses for merger/acquisition.
• Working capital and general corporate purposes.
• Insider Participation: Insiders intend to subscribe for up to 95 % of the shares offered, triggering related‑party transaction review under MI 61‑101 and TSX Venture Exchange Policy 5.9.
• Hold Period: Issued common shares subject to a 4‑month hold period (or longer if required by securities law).
• Regulatory Conditions: Placement remains subject to approval by the NEX Board of the TSX Venture Exchange.
• Financial Position (unaudited, 31 Dec 2025):
• Cash resources: C$709
• Current liabilities: C$460,977
• Working‑capital deficiency: C$459,047

Notable Quotes

(No direct quotes were provided in the release.)