Kingsmen Resources raises C$10 million in private placement

Kingsmen Resources Ltd. (TSXV:KNG)(OTCQB: KNGRF)(FSE:TUY) announced it has entered into an agreement with Red Cloud Securities Inc. for a bought deal private placement to raise gross proceeds of C$10 million.

Under the agreement, Red Cloud will purchase 4,444,445 units at C$2.25 per unit. Each unit consists of one common share and one-half of one warrant. The warrants allow holders to purchase additional shares at C$3.00 each within 36 months of the closing date.

Red Cloud holds an option to purchase up to an additional 888,889 units at the same price for additional gross proceeds of approximately C$2 million. The option can be exercised up to 48 hours before closing.

The company plans to use proceeds for exploration and advancement of its Las Coloradas and Almoloya projects in Chihuahua, Mexico, as well as working capital and general corporate purposes.

The offering will be available to purchasers in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario under the listed issuer financing exemption. Units will also be offered in the United States through private placement exemptions and in other jurisdictions on a private placement basis.

The transaction is expected to close on or around February 11, 2026, subject to regulatory approvals including approval from the TSX Venture Exchange.

An offering document dated January 26, 2026 is available on SEDAR+ and the company's website for prospective investors to review before making investment decisions.

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