Toronto, Ontario – September 11, 2024 – King Global Ventures Inc. (CSE: KING) (OTC: KGLDF) (FSE: 5LM1) (the “Company”) is disseminating this news release as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the acquisition of ownership, control or direction over securities of King Global Ventures Inc.
- On July 16, 2024, Ben Hudye acquired 1,000,000 Units of the Corporation, and the Ben and Greg Hudye Family Trust, a Trust controlled by Mr. Hudye (together the “Acquiror”), indirectly acquired control and direction over (the “Acquisition”) ownership of 400,000 Units of the Corporation, at a price of $0.25 per Unit (collectively the “Acquired Units”). The Acquired Units were purchased from the Corporation on a private placement basis. Each Acquired Unit is comprised of one common share (“Common Shares”) and one non-transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable to acquire one Common Share of the Corporation at an exercise price of $0.35 per share in the first six months and $0.45 per share in the next 18 months. The Acquisition was conducted through the facilities of the Canadian Securities Exchange.On July 22, 2024, Ben Hudye was granted 200,000 Restricted Share Units under the RSU/DSU Plan of the Corporation (the “RSU Grant”). The RSU’s are exercisable at a price of $0.60 and expire on July 22, 2026.
As of the date hereof, after giving effect to the Acquisition and the RSU Grant, the Acquiror owns, or exercises control or direction over, approximately 6.63% of the outstanding Common Shares on a non-diluted basis and 14.21% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the conversion of all of the Warrants into Common Shares and the exercise of all of the RSU’s ).
- On July 16, 2024, the Breathe Trust acquired ownership of 1,620,000 Units of the Corporation (the “Acquisition”), at a price of $0.25 per Unit. The Units were purchased from the Corporation on a private placement basis. Each Unit is comprised of one common share and one non-transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable to acquire one common share of the Corporation at an exercise price of $0.35 per share in the first six months and $0.45 per share in the next 18 months. The Trust is controlled by Joe Polish.Prior to the Acquisition the Breathe Trust did not own an common shares of the Corporation. As a result of the Acquisition the Breathe Trust now beneficially owns and controls, directly and indirectly, 1,620,000 Common Shares and 1,620,000 share purchase warrants, representing approximately 7.73% of the outstanding Common Shares on a non-diluted basis and 15.48% of the issued and outstanding Shares on a partially-diluted basis (assuming the conversion of all of the warrants into Common Shares).
- On July 16, 2024, Jason Campbell, Zen Wellness Institute of Healing Arts LLC (“Zen{“), the JKR Trust (“JKR”) together acquired (the “Acquisition”) ownership of 1,107,000 Units of the Corporation, at a price of $0.25 per Unit. The Units were purchased from the Corporation on a private placement basis. Each Unit is comprised of one common share and one non-transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable to acquire one common share of the Corporation at an exercise price of $0.35 per share in the first six months and $0.45 per share in the next 18 months. Zen and JKR are beneficially owned or controlled by Campbell.Prior to the Acquisition, none of Zen, JKR or Campbell owned any common shares of the Corporation. As a result of the Acquisition, Zen, JKR and Campbell now beneficially own and control, directly and indirectly, 1,107,000 Common Shares and 1,107,000 share purchase warrants, representing approximately 5.28% of the outstanding Common Shares on a non-diluted basis and 10.57% of the issued and outstanding Shares on a partially-diluted basis (assuming the conversion of all of the warrants into Common Shares).
- On July 16, 2024, Greg Hudye acquired ownership of 1,120,000 Units of the Corporation (the “Acquisition”), at a price of $0.25 per Unit. The Units were purchased from the Corporation on a private placement basis. Each Unit is comprised of one common share and one non-transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable to acquire one common share of the Corporation at an exercise price of $0.35 per share in the first six months and $0.45 per share in the next 18 months.Prior to the Acquisition Greg Hudye did not own an common shares of the Corporation. As a result of the Acquisition Greg Hudye now beneficially owns and controls, directly and indirectly, 1,120,000 Common Shares and 1,120,000 share purchase warrants, representing approximately 5.35% of the outstanding Common Shares on a non-diluted basis and 10.70% of the issued and outstanding Shares on a partially-diluted basis (assuming the conversion of all of the warrants into Common Shares).
All the Acquirors acquired the Acquired Units for investment purposes. The Acquirors have a long‐term view of the investment and may acquire additional securities or dispose of securities either on the open market or through private acquisitions in the future depending on market conditions, reformulation of plans and/or other relevant factors and subject to applicable securities laws. The Acquirors may, from time to time and at any time, acquire additional Shares and/or other equity, debt or other securities or instruments of the Corporation in the open market or otherwise, and reserves the right to dispose of any or all of the Acquired Units in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Acquired Units, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors, including compliance with applicable securities laws.
An early warning report has been filed by each of the Acquirors under applicable securities laws and will be available on the King SEDAR profile at www.sedarplus.ca. A copy of the early warning reports may also be obtained by contacting Robert Dzisiak at (204) 955-4803, rdzisiak@gmail.com
About King Global Ventures:
Silver Cord Property in Arizona
King Global Ventures is focused on the exploration of precious metals in North America. The Silver Cord Project in Yavapai County Arizona is comprised of 41 concessions covering a total area of 790 ac. And is situated 64 miles north of Phoenix Arizona. The Silver Cord Project represents an early-stage exploration opportunity targeting copper-gold-silver-zinc, Volcanogenic Massive Sulphide (“VMS”) mineralization. The geology of Yavapai County, Arizona is notable due to the presence of a variety of base and precious metal deposit types. The region has a significant history of exploration, discovery and mining operations, including base metals from mining operations like Bagdad, Jerome and Cleopatra. The property is on trend and 12 miles N.W. of Arizona Metals and 60 miles south of the historic Jerome Copper mine.
York Property in Quebec
The York Property is comprised of 77 claims exceeding 40 sq. km. The Property is on trend between Azimut’s Elmer Property and the Eleonor Gold Mine. The Eleonor Mine is hosted by rocks similar to the clastic sediments known to host the Ukaw gold showings.
The technical contents of this news release were approved by Andrew Lee Smith, Bsc., P.Geo, ICD.D, a qualified person as defined by National Instrument 43-101.
Additional information about King Ventures can be viewed at the Company’s website at www.kingcse.com or at www.sedarplus.ca.
On behalf of King Global Ventures
Robert Dzisiak
Chief Executive Officer
+1-204-955-4803
ir@kingcse.com
www.kingcse.com
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of the financing, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.