Benton Resources - Eric Sprott.
Eric Sprott.
Source: Sprott Money.
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  • King Global Ventures (KING) has received a C$1 million financing commitment from esteemed mining investor Eric Sprott
  • The company accepted subscriptions for 16,384,616 units priced at $0.065 cents per unit for net proceeds of $1,065,000
  • King Global will use the proceeds to finance exploration and development expenditures
  • The company anticipates the placement to close on Monday, May 31, 2021
  • King Global Ventures is a Canadian-based exploration-stage company
  • King Global Ventures (KING) is up by 5.56 per cent and is currently trading at $0.095 per share

King Global Ventures (KING) has received a C$1 million financing commitment from esteemed mining investor Eric Sprott.

The company accepted subscriptions for 16,384,616 units priced at $0.065 cents per unit for net proceeds of $1,065,000.

Each unit comprises one King Global common share and one common share purchase warrant.

Each warrant entitles the holder to purchase one common share for $0.085 cents for three years from the closing date.

King Global will use the proceeds to finance exploration and development expenditures, including additional acquisitions, and for general working capital. 

The company anticipates the placement to close on Monday, May 31, 2021.

King Global’s projects include 100 per cent interests in the following gold exploration projects:

The Golden Nugget Property consists of a 10 km land package with high-grade gold in all rock groups, with channel samples having returned 50.2 g/t gold over 1.1 m, 87 g/t gold over 0.8 m and 29.2 g/t gold over 2.5 m. 

Historical grab samples from The Miss Pickle Property include 7.3 g/t gold over 2.05 m, 8.3 g/t gold over 1.9 m and 7.1 g/t gold over 1.2 m. 

The Gold Boulder Prospect consists of 100 ha in Central Newfoundland. It is underlain by the same geological belt which hosts New Found Gold’s (NFG) high-grade Queensway project.

King Global Ventures is a Canadian-based exploration-stage company.

King Global Ventures (KING) is up by 5.56 per cent and is currently trading at $0.095 per share as of 10:13 am ET.

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