King Global Announces Closing Of Second Tranche Of $4,000,000 Unit Financing

Executive Summary

• King Global Ventures closed the final tranche of its non‑brokered private placement, raising $1.361 million from the sale of 2,268,332 units.
• Each unit consists of one common share and a two‑year warrant exercisable at $0.90 per share; the securities are subject to a four‑month‑plus‑one‑day hold period.
• Net proceeds will be used to fund continued exploration and drilling on the Silver Cord and Black Canyon projects in North America.

Key Details

• First Tranche (previously closed): $2,640,686.80 raised from 4,401,142 units; $87,499.80 represented a non‑arms‑length debt settlement for director’s fees.
• Second & Final Tranche: $1,361,000 raised from 2,268,332 units; $42,000 represented a non‑arms‑length debt settlement for director’s fees.
• Unit Composition: 1 common share + 1 warrant (2‑year term, exercise price $0.90 per share).
• Hold Period: Securities subject to a four‑month and one‑day hold period under CSE policies.
• Related Party Transaction: 1,786,666 units issued to insiders on the second tranche; reliance on MI 61‑101 exemptions as fair market value and consideration are each <25 % of market cap.
• Use of Proceeds: Net proceeds earmarked for exploration and drilling activities at the Silver Cord and Black Canyon projects.
• Closing Conditions: Subject to receipt of all required approvals, including CSE approval.

Notable Quotes

“The private placement provides us with essential capital to advance our flagship exploration programs at Silver Cord and Black Canyon,” – Robert Dzisiak, Chief Executive Officer.