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| | December 29, 2009
Kingsman Resources Announces Private Placement
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| | Vancouver, British Columbia -- December 29, 2009 -- Kingsman Resources Inc. ("The Company") reported today that it would be proceeding to close on its previously announced (October 30, 2009) non brokered private placement consisting of both flow through units and non flow through units.
The Company reported that it would be closing on 3,400,000 flow through units at a price of $0.05 per unit to raise gross proceeds of $170,000. Each flow through unit consists of one flow through common share and one-half non flow through common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company for a period of eighteen months from closing at a price of $ 0.10.
The Company also reported that it would be closing on 2,200,000 non flow through units also at a price of $ 0.05 per unit to raise gross proceeds of $110,000. Each non flow through unit consists of one non flow through common share and one whole share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company for a period of eighteen months from closing at an exercise price of $0.10.
The gross proceeds of the offering will be used in part for general working capital and the flow through portion of the proceeds will be used for qualified Canadian exploration expenditures.
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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