KALO GOLD Announces Closing of Second and Final Tranche of Non-Brokered Private Placement
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Kalo Gold Corp.
Suite 1507, 1030 West Georgia Street
Vancouver, British Columbia
V6E 2Y3, Canada
www.kalogoldcorp.com
(TSX.V: KALO)
KALO GOLD ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA, CANADA: AUGUST 13, 2024, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”)
is pleased to announce that, further to its news releases dated June 10, 2024 and July 22, 2024, it has closed the second and
final tranche of the previously announced non-brokered private placement of common shares (the “Shares”) by the issuance
of 7,103,883 Shares at $0.03 per Share for gross proceeds of $213,116.49.
The Shares issued are subject to a statutory hold period expiring on December 14, 2024.
The Company intends to use approximately 85%-90% of the net proceeds of the offering for exploration of the Company’s
100% owned, royalty free, 367 square kilometer, Vatu Aurum Project located in the Republic of Fiji, and for general working
capital and marketing purposes. Exploration will include geological mapping, trenching and diamond drilling. The Company
will not be spending more than 10% of the net proceeds of the Offering towards any investor relations activities.
The Shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered
or sold in the United States absent registration or an applicable exemption from registration requirements. This news release
does not constitute an offer to sell or a solicitation of an offer to buy such Shares in any jurisdiction in which such an offer
or sale would be unlawful. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered under the United States Act of
1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered un der the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT KALO GOLD CORP.
Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits on the
Vatu Aurum Project located on the island of Vanua Levu (North I sland) in the Republic of Fiji. Kalo holds a 100% interest in
two Special Prospecting Licenses, covering 367 km2 that hosts a regional scale back arc basin, the Nubu Graben, and several
volcanic arc related calderas ranging between 1 km to 10 km in diamet er. Historical exploration work concentrated on the
Qiriyaga Hill and Vuinubu Ridge Gold Deposits and resulted in the identification of over fourteen additional priority
epithermal gold exploration targets.
Both Viti Levu, (South Island), and Vanua Levu are on the prolific Pacific “Ring of Fire”, a trend that has produced numerous
large deposits, including Porgera, Lihir and Grasberg and on Viti Levu, the exceptional Vatukoula Gold Mine. The Vatukoula
Gold Mine has produced more than 7 million ounces of gold since 1937 and continues operations today . The island of Viti
Levu also hosts the fully permitted Tuvatu Alkaline Gold Project, where a high-grade underground gold mining operation
has been fast tracked to production.
On behalf of the Board of Directors of Kalo Gold Corp.
Terry L. Tucker, P.Geo
President and Chief Executive Officer
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and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director
For more information contact, please write to [email protected]
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, expectations or intentions regarding the future. Forward looking
statements in this news release include statements relating to the Company’s intention with the use of proceeds and the
Company’s plans for future exploration on the Vatu Aurum Gold Project. Forward-looking statements are often identified by
terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news
release, other than statements of historical fact, are forward-looking statements that involve risks and uncert ainties. 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 Analysis 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 qualified 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.