Kingsmen Resources upsizes private placement to C$11 million

Kingsmen Resources Ltd. (TSXV: KNG) announced it has increased the size of its bought deal private placement from C$10 million to C$11 million due to investor demand.

Red Cloud Securities Inc. will purchase 4,888,889 units at C$2.25 per unit as sole underwriter and bookrunner. Each unit consists of one common share and one-half warrant, with warrants exercisable at C$3.00 for 36 months from closing.

Red Cloud has an option to purchase up to an additional 888,889 units for approximately C$2 million in additional gross proceeds, exercisable up to 48 hours before closing.

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

The offering will be conducted under Canada's listed issuer financing exemption for residents of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Securities for Canadian purchasers under this exemption are expected to be immediately freely tradeable. Units will also be offered in the United States through private placement exemptions and in other jurisdictions on a private placement basis.

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

Kingsmen Resources operates two precious metals projects in Mexico's Parral region and holds a 1% royalty on claims within GoGold Resources' Los Ricos North project.

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