Key Mining Corp. (KMCM) Announces April 22nd IPO

Key Mining Corp. (KMCM) expects to raise $10 million in an initial public offering on the week of April 22nd, IPO Scoop reports. The company will be issuing 4,400,000 shares at $2.25 per share.

The company has a market-cap of $53.4 million.

Ef Hutton served as the underwriter for the IPO.

Key Mining Corp. provided the following description of their company for its IPO: “We are involved in exploration stage metals mining in Chile. (Incorporated in Delaware)  We are an exploration stage mining company focused primarily on the development of two projects, both of which are located in the Atacama Region (also known as Region III) of the Republic of Chile. Our Cerro Blanco project, or the Cerro Blanco Project, is focused primarily on exploring for rutile from which high grade titanium dioxide (TiO2) can be processed. Our Fiel Rosita project, or the Fiel Rosita Project, is focused primarily on exploring for copper, and to a lesser extent, zinc. Our current business strategy is focused on the exploration for mineral deposits at the Cerro Blanco Project and at the Fiel Rosita Project. The Cerro Blanco Project has an emphasis on rutile from which high grade titanium dioxide (TiO2) can be processed, and the Fiel Rosita Project has a primary emphasis on copper (and to a lesser extent zinc and other metals). Both projects are located in the Atacama Region (also known as Region III) of the Republic of Chile. To execute our business strategy, we will require substantial additional financial resources, including amounts necessary to fund our planned exploration program at the Cerro Blanco Project, and to fund the progress payments, the mining claim maintenance fees and our planned exploration program with respect to the Fiel Rosita Project including the exploration expenditures we must incur to satisfy a condition required under our Chilean subsidiary, Key Mining Corporation Chile SpA’s agreement relating to the Fiel Rosita Project. See “Business — SQM Exploration Agreement.” We intend to seek the necessary additional financing through the issuance of additional equity or debt securities, but there can be no assurance that such financing will be available to us in sufficient amounts, on attractive terms, on a timely basis, or at all. See “Risk Factors — Financial Risks — We will require substantial additional capital to explore and/or develop our mineral properties and we may be unable to raise additional capital on favorable terms or at all” and “Risk Factors — Risks Relating to our Business — Maintaining our right to explore and develop the Fiel Rosita mineral project is conditioned upon our making substantial future payments; and if we fail to make such payments we could lose our rights in the project.” We consider the focus of our business strategy to be justified because we believe the long-term prospects for the copper and titanium dioxide markets are strong. We operate and control our business and affairs through our wholly owned subsidiaries: Key Mining Corporation Chile SpA, Gold Express Mines SpA and Cerro Blanco Titanium, Inc. Note: Net loss and revenue figures are for the 12 months that ended Sept. 30, 2023. (Note: Key Mining Corp. cut the size of its IPO to 4.4 million shares – down from 7.5 million shares – and increased the assumed IPO price to $2.25 – up from $2.15 – to raise $9.99 million in an S-1/A filing dated April 12, 2024. Key Mining Corp. had previously changed its underwriter to EF Hutton from Titan Partners. Background: Key Mining Corp. filed an S-1/A dated Dec. 8, 2023, in which it changed its listing venue to the NYSE – American Exchange from the NASDAQ. The company has not disclosed the terms yet for its IPO. Key Mining Corp. filed its S-1 on Nov. 14, 2023, without disclosing terms for its IPO. The company submitted confidential IPO documents to the SEC in September 2023.) “.

Key Mining Corp. was founded in 2020 and has 1 employees. The company is located at 701 Brickell Avenue Suite 1550 Miami, FL 33131 (786) 847 3320 and can be reached via phone at (786) 847 3320 or on the web at http://www.keyminingcorp.com/.