Toronto, Ontario – October 21, 2024 – King Global Ventures Inc. (CSE: KING) (OTC: KGLDF) (FSE: 5LM1) (the “Company”) will be closing a non-brokered private placement, subject to the approval of the Canadian Securities Exchange. The company issued 3,992,668 units at 35 cents per unit for a total of $1,397,436. A total of $157,500 represented arm’s-length debt settlements by consultants to the company.
Pursuant to the terms of the offering, each unit comprises one common share and one two-year common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of 50 cents for a period of two years following the closing date of the offering.
The company paid finders’ fees to qualified finders of $402.50 and issued 11,500 broker’ warrants. The brokers’ warrants are exercisable on the same terms as the units.
Securities issued on this closing will be subject to a statutory hold period of four months plus a day from the date of closing.
The company intends to use the net proceeds of the offering for an expanded drill program at the Silver Cord project, working capital requirements and other general corporate purposes.
About King Global Ventures Inc.
King Global Ventures is focused on the exploration of precious metals in North America. The Silver Cord project in Yavapai county, Arizona, comprises 133 contiguous concessions covering a total area of 2,437 acres, including 12 former operating mines, and is situated 64 miles north of Phoenix, Ariz. The Silver Cord project represents an early-stage exploration opportunity targeting copper-gold-silver-zinc volcanogenic massive sulphide mineralization. The geology of Yavapai county, Arizona, is notable due to the presence of a variety of base metal 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 with, and 12 miles northwest of, Arizona Metals and 60 miles south of the historical Jerome copper mine.
The York property comprises 77 claims exceeding 40 square kilometres. 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.
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.