On April 13, 2023, Kingman Minerals Ltd. closed the transaction. The company issued 2,300,000 units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 230,000. Each Unit is comprised of one common share and one share purchase warrant entitling the holder to purchase one additional Share at a price of CAD 0.12 for period of 5 years. No finder's fees were paid, and all securities issued under the Private Placement are subject to a statutory hold period until August 14, 2023. Insiders subscribed for a total of 200,000 Units for gross proceeds of CAD 20,000.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 16 placees including existing insider involvement of two insiders for 200,000 and pro group involvement of four insiders for 225,000.