Kingsmen Resources Ltd. announced a non-brokered private placement of 10,667,000 common shares at an issue price of CAD 0.075 for the gross proceeds of CAD 800,025 on March 9, 2023. The company will issue common shares in the transaction. The transaction included participation from 8 investors for CAD 438,749.3 pursuant to exemption provided under regulation D. Post consolidation, the company will have approximately 14,016,412 common shares issued or approximately 19,349,745 common shares issued on closing of the proposed financing.

The transaction is subject to approval of Regulatory Authority.