(TheNewswire)
Toronto, ON - TheNewswire – December 18 , 2020, John Cook, CEO ofKing Global VenturesInc. (TSXV:KING ) ;US (OTC: KGLDF ) ( Frankfurt-5LM1) ispleased 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 $ 48 0,000. TheCompany has received subscriptions of $30 0,000. Any interested qualifiedinvestors can contact johncook@kos.net
Each flow-through unit will consist of one common shareissued and one warrant issued on a flow-through basis as contemplatedby the Tax Act(Canada). Each warrant issued as part of theflow-through unit will entitle the holder thereof to acquire andadditional common share, which would not be a flow-through share, atan 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 aportion of the financing in cash and 10 per cent of finders' warrants (12 month term) equal tothe number of units sold based on the same terms and in accordancewith the policies of the TSX Venture Exchange.
The proceeds of the flow-through offering will be usedto conduct resource exploration renouncable for the 2020 taxyear.
John Cook, CEO of King stated: "t he Board of Directors looks forward toactive exploration effort in Quebec and Newfoundland in2021 . "
T he Company has , subject to regulatory approval, granted directors, officers and consultants anaggregate of 4 ,000,000options at $0.05 per share exercisable until June 30, 2023 , vesting immediately .
Contact
For further information, contact John Cook, CEO of KingGlobal Ventures Inc. at: (416) 200-8073 and info@kingtsxv.com
Cautionary and Forward-LookingStatements
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Certain information in this news release may containforward-looking statements that involve substantial known and unknownrisks and uncertainties. These forward-looking statements are subjectto numerous risks and uncertainties, certain of which are beyond thecontrol of , including but not limited to, the uncertainty of thefinancing, the impact of general economic conditions, industryconditions, dependence upon regulatory approvals. Readers arecautioned that the assumptions used in preparing such information,although considered reasonable at the time of preparation, may proveimprecise and undue reliance should not be placed on forward-lookingstatements. Forward-looking statements in this press release areexpressly qualified by this cautionary statement.
The forward-looking statements in this press releaseare made as of the date of this press release, and the Companyundertakes no obligations to update publicly or to revise any of theincluded forward-looking statements, whether because of newinformation, future events or otherwise, except as expressly requiredby applicable securities law.
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