Kingfisher Metals Corp. Announces Share Consolidation and Private Placement Update

Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF), based in Vancouver, BC, has disclosed an upcoming share consolidation and details regarding its non-brokered private placement aimed at raising up to $2 million. The share consolidation will result in every five pre-consolidation common shares being combined into one post-consolidation common share.

The private placement comprises the issuance of flow-through units at a post-consolidation price of $0.225 per unit and regular units priced at $0.175 post-consolidation. The offering relies on exemptions from prospectus requirements and will target investors in Canadian provinces. Proceeds from the sale of flow-through units are earmarked for exploration expenses in British Columbia, qualifying as Canadian exploration expenses and flow-through mining expenditures as defined by Canadian tax laws.

Warrants issued as part of the units are exercisable at a post-consolidation price of $0.30 for an additional common share of the company within 24 months after the closing date of the offering. Approval from the TSX Venture Exchange and adherence to a mandatory hold period are prerequisites for the offering's finalization.

The private placement may also involve finder's fees payable in cash or warrants for securities sold to subscribers introduced by arm's-length parties, subject to regulatory approval. The consolidation aims to streamline the company's capital structure in anticipation of the offering, with post-consolidation shares expected to commence trading on the TSX Venture Exchange on a date soon to be announced.