06:09:33 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



King Global Ventures Inc
Symbol KING
Shares Issued 121,375,781
Close 2021-01-21 C$ 0.06
Market Cap C$ 7,282,547
Recent Sedar Documents

King Global closes $379,409 private placement

2021-01-22 19:21 ET - News Release

Mr. John Cook reports

KING GLOBAL VENTURES CLOSES FINANCING

King Global Ventures Inc. has closed a non-brokered private placement offering of an aggregate of 6,323,499 flow-through units of the company at a price of six cents per FT unit for gross proceeds of $379,409.94. All securities have been issued with a hold period expiring May 1, 2021.

Each FT unit is composed of one common share in the capital of the company, issued on a flow-through basis, and one common share purchase warrant. The FT shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada). Each warrant entitles the holder thereof to acquire one additional common share of the company, to be issued on a non-flow-through basis, at an exercise price of eight cents until Dec. 31, 2022.

The gross proceeds derived from the sale of the FT units under the offering will be used for general exploration expenditures on the company's mineral properties located in Newfoundland and Quebec.

In connection with the offering, the company paid certain securities dealers: (i) a cash commission in the aggregate of $5,704.20; and (ii) an aggregate of 214,167 broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at an exercise price of eight cents until Dec. 31, 2021.

The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange.

We seek Safe Harbor.

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