King Global Ventures Inc. Announces Flow Through Financing
John Cook, CEO of King Global Ventures Inc. (TSXV:KING); US (OTC:KGLDF) (Frankfurt-5LM1) is pleased to announce it plans to complete a non-brokered private placement of up to 8,000,000 units (Flow-Through) of the Company at a price of 6 cents unit for aggregate gross proceeds to the Company of up to $480,000. The Company has received subscriptions of $300,000. Any interested qualified investors can contact johncook@kos.net Each flow-through unit will consist of one common share issued and one warrant issued on a flow-through basis as contemplated by the Tax Act(Canada). Each warrant issued as part of the flow-through unit will entitle the holder thereof to acquire and additional common share, which would not be a flow-through share, at an exercise price of 8 cents for a period of 24 months from the closing date.
The Company may pay finders' fees equal to 6 per cent of the gross proceeds from a portion of the financing in cash and 10 per cent of finders' warrants (12 month term) equal to the number of units sold based on the same terms and in accordance with the policies of the TSX Venture Exchange.
The proceeds of the flow-through offering will be used to conduct resource exploration renouncable for the 2020 tax year.
John Cook, CEO of King stated: "the Board of Directors looks forward to active exploration effort in Quebec and Newfoundland in 2021."
The Company has, subject to regulatory approval, granted directors, officers and consultants an aggregate of 4,000,000 options at $0.05 per share exercisable until June 30, 2023, vesting immediately.
Contact
For further information, contact John Cook, CEO of King Global Ventures Inc. at: (416) 200-8073 and info@kingtsxv.com
Cautionary and Forward-Looking Statements
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.
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of , including but not limited to, the uncertainty of the financing, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.