KALO GOLD Announces Closing of $2 Million Brokered Private Placement Financing
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Kalo Gold Corp.
Suite 1430, 800 West Pender Street
Vancouver, BC, V6C 2V6
www.kalogoldcorp.com
For Immediate Release
KALO GOLD ANNOUNCES CLOSING OF $2 MILLION
BROKERED PRIVATE PLACEMENT FINANCING
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES
NEWSWIRE SERVICES
VANCOUVER, BC, CANADA, DECEMBER 10, 2021, KALO GOLD CORP. (TSX.V: KALO)
(“Kalo”, “Kalo Gold”, or the “Company”), is pleased to announce that further to its news release
dated November 9, 2021, the Company has closed its brokered private placement of common shares (the
“Shares”) for gross proceeds of $2 million (the “Private Placement”). Cormark Securities Inc., acted as
sole agent (the “Agent”) in the Private Placement pursuant to an agency agreement dated December 10,
2021 between the Company and the Agent.
Pursuant to the Private Placement, the Company issued 9,793,929 Shares at a price of $0.21 per Share. The
Company also paid an agency fee to the Agent equal to 8.0% of the gross proceeds of the Private Placement
and issued to the Agent that number of broker warrants (each, a “Broker Warrant”) equal to 8.0% of the
aggregate number of Shares issued. Each Broker Warrant is exercisable for one Share at $0.25 per Broker
Warrant for a period of 24 months following the closing date.
The Private Placement is subject to final approval of the TSX Venture Exchange, and all securities issued
pursuant to the Private Placement will be subject to a hold pe riod of four months and one day from the
closing date.
The Company intends to use the net proceeds of the Private Placement towards the Phase 2 exploration
program at the Vatu Aurum Gold Project, specifically to drill test the three new significant targets identified
in the Qiriyaga Zone, expand the IP/geophysical survey in Qiriyaga Zone and two other prospects and other
ground works; and for general working capital purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities.
The securities described herein have not been and will not be registered under the United States Securities
Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United
States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption
from such registration requirements.
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About Kalo Gold Corp.
Kalo Gold is a mineral exploration company focused on the Vatu Aurum gold project on Fiji’s north island,
Vanua Levu. Kalo holds two mineral exploration licenses covering 36,700 hectares of land and on trend
with many of the largest gold deposits in the world in the Southwest Pacific Ring of Fire.
On behalf of Kalo Gold Corp.
Fred Tejada
Chief Executive Officer and Director
For more information contact, please contact Kevin Ma, President and Director, at
[email protected] or +1-604-363-0411.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements Disclaimer
Certain statements in this release are forward -looking statements, which are statements that are not purely
historical, including any statements regarding beliefs, plans, expectation s or intention s regarding the future.
Forward-looking statements in this news release include statements relating to the intended use of the net
proceeds from the Private Placement. Forward-looking statements are often identified by terms such as “will”,
“may”, “should”, “anticipate”, “expects” and similar expressions. All statements, other than statements of
historical fact, included in this release, including statements regarding the proposed drilling timeline and the
proposed expansion of the exploration program, are forward -looking statement s that involve risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and
future events could differ materially from those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company ’s expectations include quality and quantity of any
mineral deposits that may be located, the Company ’s inability to obtain any necessary permits, consents or
authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able
to implement its business strategies, and other risks and uncertainties disclosed in the Company ’s filing
statement dated February 9, 2021 and latest interim Management Discussion and Anal ysis filed with certain
securities commissions in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may
prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted,
as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond
the control of the Company. The reader is cautioned not to place undue reliance on any forward -looking
information. Such information, although considered reasonable by management at the time of preparation, may
prove to be incorrect, and actual results may differ materially from those anticipated. Forward -looking
statements contained in this news release are expressly qual ified by this cautionary statement. The forward -
looking statements contained in this news release are made as of the date of this news release and the Company
will update or revise publicly any of the included forward-looking statements as expressly required by Canadian
securities law.