CALGARY, ALBERTA–(Marketwired – Sept. 6, 2016) – Kaymus Resources Inc. (the “Company“) (NEX:KYS.H) announces that it has completed its previously announced non-brokered private placement of 4,600,000 units (the “Units“) at a price of $0.05 per Unit for gross proceeds of $230,000. Each Unit is comprised of one common share (a “Common Share“), and one Common Share purchase warrant (a “Warrant“) with an exercise price $0.05 per warrant, expiring 24 months from the date of grant (the “Offering“). The Company intends to use the proceeds from the Offering for working capital and asset acquisition purposes.
Concurrently with the Offering, the Company also completes its previously announced shares for debt transaction under the same terms as the Offering to settle outstanding debt of the Company to certain insiders in the aggregate amount of $262,220.28 (the “Shares for Debt Transaction“).