K92 MINING INC. ANNOUNCES $18,000,600 “BOUGHT DEAL” FINANCING
Toronto, Ontario. – July 11, 2019 – K92 Mining Inc. (“K92” or the “Company”) (“K92” or “KNT” or the “Company”)(TSXV: KNT; OTCQB: KNTNF) is pleased to announcethat it has entered into an agreement with Clarus SecuritiesInc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”)to purchase, on a bought deal private placement basis, 9,474,000 common shares in the capital of the Company (the“Common Shares”) at a price of $1.90 per Common Share(the “Issue Price”), for aggregate gross proceeds of$18,000,600 (the “Offering”). The Company has alsogranted to the Underwriters an option to purchase anadditional 1,421,100 Common Shares at the Issue Price,exercisable by the Underwriters, in whole or in part, for aperiod of up to two days prior to the closing of the Offeringfor additional gross proceeds of up to $2,700,090.
The Company plans to use the net proceeds of the Offeringfor general corporate and working capital purposes.
The Offering is scheduled to close on or about July 30, 2019, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the acceptance by the TSX Venture Exchange. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
The securities being offered have not, nor will they beregistered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the UnitedStates or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from theU.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora/Kora North deposit of the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018 and has commenced an expansion of the mine. An updated Preliminary Economic Assessment on the property was published in January 2019. K92 is operated by a team of mining company professionals with extensive international mine-building experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact:
David Medilek, VP Business Development and InvestorRelations
+1 604 687 7130
Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the use of proceeds of the Offering, receipt of any necessary regulatory and stock exchange approvals and the anticipated closing date of the Offering. Accordingly, readers should
not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.