King Global closes $1.36M final tranche of financing

Mr. Robert Dzisiak reports KING GLOBAL ANNOUNCES CLOSING OF SECOND TRANCHE OF $4,000,000 UNIT FINANCING King Global Ventures Inc. has closed the final tranche of its non-brokered private placement. In the first tranche, the company raised proceeds of $2,640,686.80 through the sale of 4,401,142 units; $87,499.80 of the total represented a non-arm's-length debt settlement by the company of debt incurred for director fees. In the second and final tranche, the company raised proceeds of $1,361,000 through the sale of 2,268,332 units; $42,000 of the total represented a non-arm's-length debt settlement by the company of debt incurred for director fees. Pursuant to the terms of the offering, each unit comprises one common share and one two-year common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of 90 cents per common share for a period of two years following the closing date of the offering. Securities issued on this closing are subject to a four-month-and-one-day hold period in accordance with the policies of the Canadian Securities Exchange and applicable securities legislation. The issuance of 1,786,666 units, in aggregate, to certain insiders of the company in the second tranche constitutes a related party transaction, as such term is defined in Multilateral Instrument 61-101. Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements, respectively, as neither the fair market value of the units nor the consideration for such units, insofar as it involves the insiders, exceeds 25 per cent of the company's market capitalization. The company intends to use the net proceeds of the private placement to continue exploration and drilling on its Silver Cord and Black Canyon projects. The private placement is subject to certain conditions, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange. About King Global Ventures Inc. King Global Ventures is focused on the exploration of precious and base metals in North America. Black Canyon property in Arizona The Black Canyon project in Yavapai county, Arizona, comprises 213 contiguous concessions covering a total area of 3,800 acres, including 15 former-operating mines including the past-producing Howard copper mine, and is situated 100 kilometres (64 miles) north of Phoenix, Ariz. The Black Canyon project represents an early-stage exploration opportunity targeting copper-gold-silver-zinc volcanogenic massive sulphide (VMS) mineralization. The geology of Yavapai county, Arizona, is notable due to the presence of a variety of base and precious metal deposit types. The region has a significant history of exploration, discovery and mining operations, including base metals from mining operations such as Bagdad, Jerome and Cleopatra. The property is on trend and is approximately eight kilometres (12 miles) northwest of Arizona Metals and 100 kilometres (60 miles) south of the historic Jerome copper mine. The Howard copper mine property is located on 78 acres of patented land approximately 100 kilometres (64 miles) north of Phoenix, Ariz. Discovered in the early 1920s, small-scale production and development focused on high-grade copper. An estimated 100,000 tonnes of copper grading between 3 per cent and 5 per cent copper were mined from the property until it was closed in 1942 due to the inability to secure fuel rations during the Second World War. Historical reports state that the main shaft was sunk to the 900-foot level, but no ore was mined below the 500-foot level. The Mikwam property The Mikwam gold property is located in Noseworthy township within the Abitibi greenstone belt of the Superior province in Northeastern Ontario. It lies along the Casa Berardi deformation zone, which hosts Detour Gold's Burntbush property. The Mikwam deposit is hosted within Timiskaming-aged polymictic conglomerate and greywacke units and contains disseminated and vein-hosted gold mineralization associated with quartz-carbonate veins and pyrite mineralization. A National Instrument 43-101 technical report prepared for Galena International Resources Ltd. by Caracle Creek International Consulting Inc., dated Dec. 8, 2016, disclosed a historical inferred mineral resource of 1.81 million tonnes grading 2.34 grams per tonne gold, containing 136,000 ounces of gold, at a cut-off grade of 1.00 gram per tonne gold. This estimate (announced by Galena in a press release dated Dec. 12, 2016) is historical in nature, was not prepared for King Global Ventures and should not be considered current. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the issuer is not treating the historical estimate as current mineral resources. The technical contents of this news release were approved by Andrew Lee Smith, BSc, PGeo, ICDD, a qualified person as defined by NI 43-101. We seek Safe Harbor.