Kingfisher Metals Corp. (TSXV: KFR) has finalised a non-brokered private placement with Barrick Mining Corporation, marking a significant capital injection for the explorer. Under the terms of the agreement, the company issued 15,470,934 units at a price of C$1.35 per unit, generating total gross proceeds of C$20,885,761. Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at C$1.70 over a two-year term.

Following the close of this transaction, Barrick now holds a 9.9% stake in the company on a non-diluted basis. This interest increases to 14.1% assuming the full exercise of the warrants. In conjunction with the financing, the two companies have entered into an investor rights agreement. The securities issued remain subject to a standard four-month-and-one-day statutory hold period expiring on November 29, 2026.

Management has committed to allocating at least 80% of the newly raised funds toward the exploration and development of the HWY 37 project in British Columbia. The remaining capital is designated for general working capital and corporate purposes. This infusion supports the company’s ongoing technical efforts across its expansive 933 km² land package in the Golden Triangle.

This financial milestone coincides with the company’s current operational agenda. Exploration teams remain active throughout the 2026 season, conducting a 15,000 m diamond drill campaign at the project site. The financing provides the necessary liquidity to maintain this development pace as the company continues to test its primary copper-gold targets.

Market interest followed the announcement, with the company’s stock rising 0.77% on July 28, 2026, to finish the trading session at a closing price of C$1.31. Maxit Capital LP served as the financial advisor for the transaction. Legal counsel for the financing included Forooghian + Company Law Corporation for the issuer, while Davies Ward Phillips & Vineberg LLP and Lawson Lundell LLP represented the investor. With the capital now secured, the company maintains its focus on advancing its geological prospects through the remainder of the year.

Read the full announcement: Kingfisher Announces Closing of Strategic Investment from Barrick