
Core Viewpoint - Kingman Minerals Ltd. has announced an upsized non-brokered follow-on private placement due to strong investor demand, increasing total gross proceeds from C$500,000 to C$1,500,000 [1] Group 1: Offering Details - The company will issue up to 21,428,571 units at a price of C$0.07 per unit, with each unit consisting of one common share and one common share purchase warrant [2] - Each warrant allows the holder to purchase an additional common share at an exercise price of C$0.09 for a period of 24 months from the closing date [2] Group 2: Use of Proceeds - Net proceeds from the offering will fund exploration and development activities at the Mohave Project, including diamond drilling, geophysics, geochemical sampling, and permitting [3] - The Mohave Project includes the historic high-grade Rosebud Mine, where previous underground sampling reported bonanza-grade results of up to 688 g/t gold and 468 g/t silver [3] Group 3: Additional Information - The company may pay finders' fees of 6.0% of gross proceeds and issue finders' warrants equal to 6.0% of the units sold [4] - Closing of the offering is subject to necessary regulatory approvals, including from the TSX Venture Exchange, and all securities will be subject to a statutory hold period of four months and one day [5] - Certain insiders may participate in the offering, which will be considered a related party transaction, relying on exemptions from formal valuation and minority shareholder approval requirements [6] - 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 [8]