K92 Mining Inc. Announces Increase to Marketed Offering of Units

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, Feb. 13, 2018 (GLOBE NEWSWIRE) -- K92 Mining Inc. (TSXV:KNT) (the “Company”) is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus”) as Lead Agent on behalf of a syndicate of agents (collectively, the “Agents”), to increase the size of its previously announced C$5,000,040 “best efforts” private placement offering. Pursuant to the upsized deal terms, the Agents have agreed to sell, on a “best efforts” private placement basis up to 14,444,500 units of the Company (the “Units”) of the Company at a price of C$0.45 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of up to C$6,500,025 (the “Offering”). Each Unit will be comprised of one common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a “Warrant Share”) at a price of C$0.65 for a period of 18 months following the Closing Date (as defined below).

The proceeds raised from the Offering will be used by the Company for exploration and development of the Company’s mineral properties and for general corporate purposes.

The Offering is scheduled to close on or about March 5, 2018, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada. The Units to be issued under this Offering will also be offered offshore, including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.

For more information, visit www.k92mining.com.

For further information, please contact:
Mario Vetro
Investor Relations
+1 604 687 7130 ext. 200
mvetro@k92mining.com
www.k92mining.com

Neither 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.