Vancouver BC. (FSCwire) - King’s Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1), (the “Company”) announces that further to its news release dated May 22, 2018, it is increasing the size of its private placement financing. The Company previously disclosed that it would issue up to 8,333,333 units (each, a “Unit”) of the Company at a price of $0.06 per Unit for gross proceeds of up to $500,000. The Company today announces that it has increased the number of Units to be issued, such that it will issue up to 16,666,666 Units for gross proceeds of up to $1,000,000. The terms of the Units remain as announced on May 22, 2018. Closing of the financing remains subject to the approval of the TSX Venture Exchange.
Proceeds of the financing are anticipated to be used for general working capital.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing.
About King’s Bay
King’s Bay is a mineral exploration company that is focused on the exploration of cobalt and other high‐tech metals in North America. The Company’s head office is in Vancouver, Canada.
On Behalf of the Board
Kevin Bottomley President & Chief Executive Officer
O: 604 681 1568
For Investment Inquiries please contact:
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Forward looking statements in this news release include that we will raise funds pursuant to a private placement and the anticipated use of proceeds of the financing. Risks that could change or prevent these statements from coming to fruition include that the Company may not receive regulatory approval for the placement, there may be no interested investors and we may not raise sufficient funds to carry out our plans. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.