VANCOUVER, British Columbia, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Kingfisher Metals Corp. (TSXV:KFR) (FSE: 970) (OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce that due to strong demand, it has increased the size of the previously announced bought deal to 5,300,000 non-critical charity flow-through common shares (the "Non-Critical Charity Flow-Through Shares"), at a price of C$0.94 per Non-Critical Charity Flow-Through Share, 14,500,000 critical charity flow-through common shares (the "Critical Charity Flow-Through Shares"), at a price of C$1.04 per Critical Charity Flow-Through Shares, and 7,600,000 hard dollar common shares (the "HD Shares"), at a price of C$0.65 per HD Share (collectively, the "Offered Securities"), for total gross proceeds of approximately C$25 million (the "Offering"). The Company previously entered into an agreement with BMO Capital Markets as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the "Underwriters"). The Company has granted the Underwriters an option, exercisable at any time up to 48 hours prior to the closing of the Offering, to purchase up to an additional C$5 million of the Offering.
The Offering is expected to close on or about March 3, 2026 and is subject to Kingfisher receiving all customary regulatory approvals.
The gross proceeds raised from the Non-Critical Charity Flow-Through Shares and Critical Charity Flow-Through Shares will be used to incur Qualifying Expenditures (defined below) as set forth below under Charity Flow-Through Income Tax Considerations. The net proceeds of the sale of the HD Shares will be used for exploration of the Company's properties and general corporate purposes.
The Company shall use the gross proceeds raised from the Non-Critical Charity Flow-Through Shares and the Critical Charity Flow-Through Shares to incur, after the closing date and on or prior to December 31, 2027, "Canadian exploration expenses" (as defined in subsection 66.1(6) of the ...
