Kalo Gold (KALO-V) Closes $625k First Tranche Of Non-brokered Private Placement Share Offering
Dec 29, '22 - NR
Kalo Gold Corp., further to its news release dated Dec. 14, 2022, has closed a first tranche of its non-brokered private placement of common shares, raising gross proceeds of $625,000 by issuing 12.5 million common shares.
The company will use the net proceeds of the offering toward the phase 3 exploration program at its 100-per-cent-owned Vatu Aurum gold project, which will include diamond drill testing follow-up of significant high-grade gold targets that have been identified at Qiriyaga and Mouta, geochemical and geophysical work including a BLEG (bulk leach extractable gold) program and CSAMT (controlled-source audio-frequency magnetotellurics) survey, and for general working capital purposes.
The common shares issued are subject to a statutory hold period expiring on April 30, 2023.
The second tranche will be expected to close on or around Jan. 11, 2023. Finders' fees will be payable on completion of the offering.
On behalf of the Board of Directors of Kalo Gold Corp.
Terry L. Tucker, P.Geo
President and Chief Executive Officer
and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets, and Director
For more information contact, please write to info@kalogoldcorp.com |
