Kingsmen Resources Announces Upsize of Bought Deal Private Placement to Gross Proceeds of C$11 Million

Core Viewpoint - Kingsmen Resources Ltd. has successfully increased its private placement offering from gross proceeds of C$10,000,001.25 to C$11,000,000.25 due to strong investor demand [1] Group 1: Offering Details - The underwritten offering will consist of 4,888,889 units priced at C$2.25 per unit, each unit comprising one common share and one-half of a common share purchase warrant [1][2] - Each warrant allows the holder to purchase one common share at an exercise price of C$3.00 for 36 months from the closing date [2] - An option is granted to the underwriter to purchase an additional 888,889 units for up to approximately C$2,000,000.25, increasing the total potential gross proceeds [3] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated towards exploration and advancement of the Las Coloradas and Almoloya projects in Chihuahua, Mexico, as well as for working capital and general corporate purposes [4] Group 3: Regulatory Compliance - The offering will comply with National Instrument 45-106 and will be available to purchasers in specific Canadian provinces, with securities expected to be freely tradable under applicable Canadian laws [5] - The offering will also be available in the United States and other jurisdictions through private placements, adhering to relevant laws [5] Group 4: Company Overview - Kingsmen Resources is focused on exploring its 100%-owned precious-metal districts, Las Coloradas and Almoloya, located in a historically productive silver belt in Mexico [9] - Recent drilling at Las Coloradas has confirmed new zones of high-grade mineralization, indicating strong potential for further discoveries [9] - The Almoloya project shows promise for both vein-hosted and carbonate-replacement style mineralization based on historical drilling and underground workings [9]