Mr. Robert Dzisiak reports

KING GLOBAL VENTURES INC. ANNOUNCES CLOSING OF COMMON SHARE UNIT FINANCING

King Global Ventures Inc. has closed the final tranche of its non-brokered private placement. In the first tranche the company raised proceeds of $215,000 through the sale of 1.72 million units. The second and final tranche the company raised proceeds of $285,000 through the sale of 2.28 million units. The company paid finders fees on the final tranche to a qualified finder of $450 and issued 3,600 broker warrants. The broker warrants are exercisable at 30 cents and expire on March 18, 2024.

Two hundred thousand units were subscribed for by the spouse of the chief executive officer, representing 4 per cent of the units issued. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation. Pursuant to the terms of the financing, each unit comprises one common share and one two-year share purchase warrant. Each warrant is exercisable at 30 cents in the first year and 60 cents in the second year, subject to acceleration. The warrants shall be subject to the directors' ability to accelerate the exercise price to 60 cents, in the event that the shares of the company trade at 50 cents or higher for 10 consecutive trading days. Securities issued on this closing will be subject to a statutory hold period until Jan. 20, 2024.

The corporation intends to use the net proceeds to retire outstanding indebtedness, finance general administrative expenses, and finance continuing evaluation, exploration and renewal fees of existing mineral projects. Up to 20 per cent of the proceeds will be utilized for evaluation of the Las Misiones project, and the balance as a reserve for future acquisitions.

We seek Safe Harbor.