Kirkstone Metals Closes Non-Brokered Private Placement Of $2,000,000

Executive Summary

• Kirkstone Metals Corp. closed a non‑brokered private placement of 10,000,000 units at $0.20 per unit, generating gross proceeds of $2,000,000.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant exercisable at $1.00 per share for two years, with exercise blocked for the first 60 days).
• Net proceeds are earmarked for exploration activities and general working capital.

Key Details

• Placement Size & Pricing: 10,000,000 units @ $0.20/unit → gross proceeds $2,000,000.
• Unit Composition: 1 common share + ½ of a common‑share purchase warrant (full warrant = right to buy one additional common share).
• Warrant Terms: Exercise price $1.00 per share; exercisable for two years from closing; cannot be exercised until 60 days after closing.
• Use of Proceeds: Primarily for exploration work on uranium assets and for general working capital.
• Exemptions & Trading Status:
• 3,241,344 units issued under the Listed Issuer Financing Exemption (NI 45‑106) – immediately free‑trading in Canada.
• Remaining units issued under other prospectus exemptions; subject to a resale restriction of four months and one day, expiring 2026‑08‑03.
• Finder’s Fees: None payable in connection with the private placement.

Notable Quotes

(No executive quotes were included in the release.)