K92 Mining Inc (KNTNF)

[ThSeeker]

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 15, 2017) - K92 Mining Inc. (the "Company" or "K92"), (TSX VENTURE:KNT)(KNTNF) is pleased to announce the Company has arranged a non-brokered private placement to raise up to $10,000,000 (the "Financing") through the issuance of 13,333,333 units (the "Units") of the Company at a price of $0.75 per Unit. Each Unit will consist of one Common share and one Common share purchase warrant (a "Warrant"). Each Warrant will allow the holder to purchase one Common share of K92 at a price of $1.00 for a period of 12 months from the date of issuance.

Finders' fees may be paid in connection with the Financing as K92 may engage certain finders to assist in locating investors for the Financing.

The Financing is intended to be completed within the next 10 days and is subject to certain conditions, including the approval of the TSX Venture Exchange (the "TSXV"). Use of proceeds are intended to include grade control, expansion and exploration drilling, work on the underground incline drive to Kora and for general corporate purposes.

All securities issued as part of the Financing will be subject to a hold period of 4 months and one day from the closing date of the Financing.