Kingfisher arranges $20-million bought deal offering

Executive Summary

• Kingfisher Metals Corp. has entered into a bought deal financing agreement for total gross proceeds of approximately $20 million, led by BMO Capital Markets.
• The offering consists of three tranches of shares: non-critical charity flow-through shares, critical charity flow-through shares, and hard-dollar (HD) common shares, with an overallotment option for an additional $5 million.
• Proceeds will be allocated to incur Canadian exploration expenses (CEE) and flow-through critical mineral mining expenditures, with remaining net proceeds from HD shares used for property exploration and general corporate purposes.

Key Details

• Total Gross Proceeds: Approximately $20 million.
• Underwriters: Syndicate led by BMO Capital Markets as sole bookrunner.
• Transaction Type: Bought deal financing.
• Share Tranches and Pricing:
  • Non-critical charity flow-through common shares: 5.3 million shares at $0.94 per share.
  • Critical charity flow-through common shares: 9.7 million shares at $1.04 per share.
  • Hard-dollar (HD) common shares: 7.6 million shares at $0.65 per share.
• Overallotment Option: Underwriters have an option to purchase up to an additional 25% of the offering (approximately $5 million) exercisable up to 48 hours prior to closing.
• Closing Date: Expected on or about March 3, 2026, subject to customary regulatory approvals.
• Use of Proceeds:
  • Charity Flow-Through Shares: Gross proceeds to be used to incur Canadian exploration expenses (CEE) and, for critical charity shares, flow-through critical mineral mining expenditures. These expenditures must be incurred on or prior to December 31, 2026.
  • Hard-Dollar Shares: Net proceeds to be used for exploration of the company's properties and general corporate purposes.
• Jurisdiction: Offered on a private placement basis in all Canadian provinces and territories; HD shares may also be offered in the United States under an exemption from U.S. Securities Act registration requirements.

Notable Quotes

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