Kingsmen Resources Announces Bought Deal Private Placement for Gross Proceeds of C$10 Million

The most recent news (Jan 26, 2026) announces a bought deal private placement for gross proceeds of C$10,000,012.50. The company will issue 4,444,445 units at C$2.25 per unit, with each unit consisting of one common share and one warrant. Each whole warrant is exercisable at C$3.00 for 36 months. The deal is underwritten by Red Cloud Securities Inc. and is expected to close around February 13, 2026. The proceeds are earmarked for the exploration and advancement of the Las Coloradas and Almoloya projects in Mexico, working capital, and general corporate purposes.

This news is materially positive. The financing is large relative to the company's market cap (~C$62M pre-financing) and provides a significant, non-dilutive-at-the-moment war chest (C$10M) to aggressively advance its core projects. The financing price of C$2.25 represents a slight discount (~8.5%) to the recent closing price of C$2.46 but is significantly above the price of the previous financing in November 2025 (C$1.35). This upward trajectory in financing price reflects the market's positive reception to the company's recent, consistent high-grade drill results from Las Coloradas. The capital removes near-term funding risk for at least the next 12-18 months, allowing the company to execute its planned exploration programs without immediate pressure to return to the market.

Kingsmen Resources is a Canadian mineral exploration company focused on silver and gold projects in Mexico's prolific Parral Mining District in Chihuahua. - Flagship Project - Las Coloradas: A 100%-owned, 8.5 sq km past-producing silver-gold project. Historical production by ASARCO (1943-1952). The company's maiden drill program in 2025 intersected significant high-grade silver mineralization (e.g., 1,742 g/t AgEq over 0.7m in Sept 2025), confirming mineralization is open at depth and along strike across multiple parallel structures (Soledad, Soledad II, DBD Zone). The project is at an early exploration stage with less than 5% of the property explored. - Second Project - Almoloya: An option-to-acquire 100% gold-silver project acquired in October 2025. It features historic underground mines (Cigarrero, Juliettas) with artisanal gold mining activity and high-grade surface samples (e.g., 34.09 g/t Au over 0.5m). The project is prospective for epithermal and carbonate replacement deposit (CRD) styles of mineralization.