Kingfisher Metals increases bought deal to $25-million

Executive Summary

• Kingfisher Metals Corp. has increased its previously announced bought deal financing to total gross proceeds of approximately $25 million due to strong investor demand.
• The financing consists of three tranches: non-critical charity flow-through shares, critical charity flow-through shares, and hard dollar common shares, with a total of 27.4 million shares issued.
• The company has granted underwriters an option to purchase up to an additional $5 million of shares, bringing the total potential offering size to $30 million.

Key Details

• Total Gross Proceeds: Approximately $25 million (excluding the over-allotment option).
• Share Structure and Pricing:
  • Non-critical charity flow-through common shares: 5.3 million shares at $0.94 per share.
  • Critical charity flow-through common shares: 14.5 million shares at $1.04 per share.
  • Hard dollar (HD) common shares: 7.6 million shares at $0.65 per share.
• Underwriter Option: The underwriters (led by BMO Capital Markets) have an option to purchase up to an additional $5 million of the offering, exercisable up to 48 hours prior to closing.
• Use of Proceeds:
  • Proceeds from charity flow-through shares will be used to incur qualifying Canadian exploration expenses (CEE) and flow-through critical mineral mining expenditures.
  • Net proceeds from HD shares will be used for exploration of the company's properties and general corporate purposes.
• Timeline: The offering is expected to close on or about March 3, 2026, subject to customary regulatory approvals.
• Jurisdiction: Offered via private placement in all Canadian provinces and territories; HD shares may also be offered in the United States under an exemption from the Securities Act of 1933.

Notable Quotes

• No direct quotes from management were included in the provided text.