Kingsland Energy Corp announced that it has entered into a non-brokered private placement of 3,000,000 common shares at a price of CAD 0.01 per common share for gross proceeds of CAD 30,000 on December 13, 2023. The transaction is subject to conditional upon NEX Board approval. Company will continue to be a control person, and will hold, own or control, direct or indirectly, 3,954,956 common shares of company or 64.77% on an undiluted and diluted basis.

All securities issued or issuable under the Private Placement will be subject to a statutory hold period lasting four months and one day following the closing of the transaction. The transaction has been approved by the board of directors of the Corporation. The transaction will receive regulatory approvals and will close as contemplated.