Kingman Minerals Ltd. Announces Closing of 1st Tranche of Non-Brokered Private Placement

Core Viewpoint - Kingman Minerals Ltd. has successfully closed the first tranche of its non-brokered private placement, raising a total of $499,553 through the issuance of 7,136,471 units at a price of $0.07 per unit [1][3]. Group 1: Private Placement Details - The first tranche is part of a larger offering announced on August 27, 2025, which aims to issue up to 8,757,143 units for gross proceeds of approximately $613,000 [3]. - The net proceeds from the private placement will be utilized for general working capital and to advance the flagship Mohave Project, including the historic Rosebud Mine in Arizona [3]. - Planned expenditures include preparing an NI 43-101 compliant technical report, updating the drill plan, re-applying for drill permits, and related exploration activities [3]. Group 2: Finder's Fees and Insider Participation - Kingman will pay a cash finder's fee of $4,620 and issue 66,000 non-transferable finder's warrants, allowing holders to acquire common shares at an exercise price of $0.09 until September 2, 2027 [2]. - Insiders of the company subscribed for 2,516,826 units, contributing gross proceeds of $176,177.82, which is classified as a related party transaction [5][6]. Group 3: Regulatory and Compliance Information - All securities issued will be subject to a statutory hold period of four months from the date of issuance, and the closing of the second tranche is contingent upon receiving necessary regulatory approvals [4]. - The company relied on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 due to the nature of insider participation [6]. Group 4: Company Overview - Kingman Minerals Ltd. is focused on precious metals exploration and development in North America, with its flagship project being the 100%-owned historic Rosebud Mine in Arizona [9]. - The Rosebud Mine has a history of high-grade gold and silver production dating back to the 1880s, with significant underground development already completed [9].