King Global Ventures arranges $4-million financing

Executive Summary

• King Global Ventures Inc. announced a non-brokered private placement of up to $4.0 million, issuing 6,666,667 units at $0.60 per unit.
• The company simultaneously issued 140,000 Restricted Share Units (RSUs) and 300,000 stock options to consultants under its compensation plans.
• Net proceeds from the financing are intended for continued exploration and drilling on the Silver Cord and Black Canyon projects.

Key Details

• Financing Structure:
  • Type: Non-brokered private placement.
  • Gross Proceeds: Up to $4,000,000.
  • Units Issued: Up to 6,666,667 units.
  • Price: $0.60 per unit.
  • Composition: Each unit consists of one common share and one common share warrant.
  • Warrant Terms: Each warrant entitles the holder to subscribe for one additional common share at an exercise price of $0.90.
  • Warrant Expiry: Two years from the date of closing.
  • Hold Period: Four months and one day for both common shares and warrants, per Canadian Securities Exchange (CSE) policies.
  • Finder’s Fee: Cash finder’s fees will be paid to qualified finders assisting in the sale, in compliance with CSE policy.
  • Conditions: Subject to necessary approvals, including CSE approval.
• Use of Proceeds:
  • To continue exploration and drilling on the Silver Cord and Black Canyon projects.
• Option Grant Details:
  • Recipients: Consultants.
  • RSUs Issued: 140,000 RSUs.
    • Vesting: Immediately, except for 100,000 RSUs which vest equally over the next four quarters.
  • Options Issued: 300,000 options.
    • Exercise Price: $0.61.
    • Term: Five years.
    • Vesting: Equally over the next four quarters.
• Qualified Person Statement (NI 43-101):
  • Reviewed and approved by Andrew Lee Smith, PGeo, ICDD.
  • Verified scientific/technical information regarding the 2025 Silver Cord drill program.
  • Confirmed no material QA/QC issues affecting assay reliability.
  • Validated geological interpretations including structural controls, alteration patterns, and metal zonation.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.