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| | October 30, 2009
Kingsman Resources Announces Private Placement
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| | October 30, 2009 - Kingsman Resources Inc. is offering a non-brokered private placement for securities in the amount of $800,000. The issue will consist of both non-flow-through units and flow-through units.
Non-flow-through units
Kingsman is offering up to eight million non-flow-through units at 5 cents per unit. Each unit consists of one non-flow-through common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to buy one common share of the company for a period of 18 months from the date of the closing of the private placement. The exercise price of the warrants will be ten cents.
Flow-through units
Kingsman is offering up to eight million flow-through units at 5 cents per unit. Each unit consists of one flow-through common share in the capital of the company and one-half non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to buy one common share of the company for a period of 18 months from the date of the closing of the private placement. The exercise price of the warrants will be ten cents.
The gross proceeds of the offering will be used in part for general working capital and the flow-through portion of the private placement will be used for qualified Canadian exploration expenditures.
A finder's fee may be payable according to the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX-V.
About Kingsman Resources Inc.
Kingsman Resources Inc. is an exploration and development company with a particular focus on gold, copper, silver, lead, zinc, and molybdenum deposits with a potential for economic grades and large tonnages. The Company's current focus is the International Basin property located 35 miles south of Golden, British Columbia. The property has returned very high results for gold, silver, copper, lead and zinc from various rock samples. The Company also has an excellent prospect in its Luxor Molybdenum property located 28 kilometres northeast of Barriere, BC in the Kamloops Mining Division and the prospective Pathfinder gold, silver, copper (molybdenum, tungsten) property located 20 kilometres north of Grand Forks, BC, in the Boundary Mining District. Kingsman's goal is to find attractive early stage mineral properties, conduct exploration and promote them to a major company for additional development.
On Behalf of the Board of Directors
KINGSMAN RESOURCES INC.
"Robert McLaughlin"
Robert McLaughlin
Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." |
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