China Kingstone clarifies HK$8.9 million share subscription proceeds allocation

China Kingstone Mining issued a supplemental clarification on its HKD 8.9 million share-subscription fundraising, detailing the planned use of proceeds and providing an update on its Chile gold project evaluation. * Net proceeds were earmarked mainly for offshore working capital, with HKD 7.12 million allocated for second-half 2026 expenses including staff costs, corporate overhead, litigation-related legal fees, interest payments, and settlement of payables; the balance of HKD 1.78 million was set aside for early-stage work on the Pumillahue Project. * The Chile allocation was expected to fund geological work and professional fees within three months of completion, with no proceeds intended to be paid or advanced to the project vendor or related parties. * Due diligence on Pumillahue had “substantially progressed,” with draft geological and NI 43-101 technical reports received, while no mineral resources or reserves had been established at this stage. * The exclusivity period under the project MOU was extended to June 30, 2026; if no formal agreement is signed by then, the vendor must return the USD 1 million earnest money within 14 days under the MOU terms. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. China Kingstone Mining Holdings Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260521-12167455), on May 21, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)