Kingsmen Resources Increases Private Placement to C$11 Million

Vancouver-based Kingsmen Resources Ltd. announced an increase in its private placement offering due to strong investor interest. The offering has grown from C$10 million to C$11 million. Red Cloud Securities Inc. will purchase 4,888,889 units at C$2.25 per unit. Each unit includes one common share and a half warrant, with each full warrant exercisable at C$3.00 within 36 months.

An option allows Red Cloud to buy an extra 888,889 units for up to C$2 million. The funds will support projects in Chihuahua, Mexico, and for corporate purposes. Units will be sold under Canadian exemptions and U.S. private placement. Closing is expected around February 11, pending regulatory approvals.