Kinbauri Closes Final Tranche of Private Placement

Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased
to announce that it has closed the final tranche of its previously announced
(February 20) brokered private placement. This tranche consisted of 1,140,000
Units for aggregate gross proceeds of $513,000. Each Unit consists of one common
share and one-half of a common share purchase warrant at a price of $0.45 per
Unit. Each whole warrant entitles the holder to purchase one common share at a
price of $0.70 for a period of 12 months from the date of issuance. The
securities are subject to a four month hold period from the date of the closing.


In connection with the closing of this tranche of the offering, M Partners Inc.
has been paid a commission of $22,950 and received broker warrants to purchase
an aggregate of 51,000 Units at a price of $0.45 per Unit for a period of 12
months from the date of the closing. The proceeds of the financing will be used
for general working capital purposes and the advancement of the El Valle/Carles
project in northwestern Spain. The placement is subject to acceptance by the TSX
Venture Exchange.


About Kinbauri:

Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the
development of precious metal prospects in Spain, Nevada and Canada. Its
immediate focus is to begin operations at its El Valle/Carles property in
Asturias, northwestern Spain by 2011. It has 53,243,051 common shares issued and
outstanding.


THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


This press release contains certain forward-looking statements, which are based
on the opinions and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those projected.
Kinbauri undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.


VISIT:

Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can
post questions and receive answers or review questions and answers already
posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com

Kinbauri Gold Corp Com Npv (TSXV:KNB)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024