Kairos Announces Closing of the First Tranche of its Private Placement
Kairos Announces Closing of the First Tranche of its Private
Placement
TSX Venture Exchange: "KRS"
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
/
CALGARY
,
Nov. 9, 2017
/CNW/ - Kairos Capital Corporation ("
Kairos
" or the "
Corporation
") is pleased to announce that it has, subject to
TSX Venture Exchange Inc. (the "
TSXV
") final approval, closed the first tranche of its previously announced non-brokered private placement (the
"
Private Placement
") of units of the Corporation ("
Units
") pursuant to which Kairos issued an aggregate of 6,363,100 Units for gross proceeds
of CDN
$2,927,026
(the "
First Tranche
"). Each Unit is comprised of one (1) common share in the capital of the Corporation (a "
Common
Share
") and one-third (1/3) of one common share purchase warrant of the Corporation (a "
Warrant
"). Each whole Warrant entitles the holder
thereof to purchase one (1) Common Share at a price of
$0.69
per share expiring eighteen (18) months from the date of issuance.
In connection with the First Tranche, Kairos has paid finders a cash commission of 7% of the proceeds of the First Tranche that resulted from such
parties efforts, subject to compliance with applicable securities laws. The finders have also been granted broker warrants to purchase 7% of the
number of Common Shares sold under the First Tranche as a result of such parties efforts, which resulted in Kairos issuing an aggregate 445,417
broker warrants. Each broker warrant entitles the holder to purchase one Common Share at a price of CDN
$0.46
for a period of one year from
the closing of the First Tranche.
The net proceeds of the First Tranche and the Private Placement will be used by the Corporation for general working capital and to fund continued
development and exploration activities on its Lithium properties in
Chile
.
Pursuant to applicable securities laws, all securities issued pursuant to the First Tranche will be subject to a hold period of four months plus one
day following the date of issuance of such securities.
Completion of the First Tranche and the Private Placement is subject to certain conditions, including but not limited to, final approval of TSXV.
The Private Placement has been fully subscribed and Kairos anticipates closing on the remaining Units available under the Private Placement early
next week.
About Kairos
Kairos holds a significant Lithium property portfolio which now consists of approximately 53,600 hectares over 11 salars, all located entirely within
Chile
(the "
Lithium Claims
"). Preliminary sampling and assaying results from shallow depth over the first 5 of the salars have been received and
confirm management's belief that the Lithium Claims are highly prospective for economic lithium brine accumulations.
Reader Advisory
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable
securities legislation (collectively "
forward-looking statements
"). Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and
phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking
statements relating to, among other things: management of the Corporation's views regarding its existing properties and the Lithium
Claims and the ability of the Corporation to explore its existing properties and the Lithium Claims and statements pertaining to the
Private Placement, including the Corporation's ability to obtain necessary approvals from the TSXV and the closing of the second
tranche of the private placement.
Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in
forward-looking statements. Those material factors and assumptions are based on information currently available to the Corporation,
including information obtained from third party industry analysts and other third party sources. In some instances, material assumptions
and material factors are presented elsewhere in this news release in connection with the forward-looking statements. You are cautioned
that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are
not limited to: the general stability of the economic and political environment in which the Corporation operates; the timely receipt of
required regulatory approvals; the ability of the Corporation to obtain future financing on acceptable terms; currency, exchange and
interest rates; operating costs; and the success the Corporation will have in exploring its prospects and the results from such prospects.
Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not undertake to update any
forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this
press release are expressly qualified by this cautionary statement.
SOURCE
Kairos Capital Corporation
View original content: http://www.newswire.ca/en/releases/archive/November2017/09/c4249.html
%SEDAR: 00030645E
For further information:
Steven Cochrane, President & CEO, Kairos Capital Corporation, #900, 903 - 8th Street SW, Calgary, Alberta T2P
0P7, (587) 393-5801 or via email: [email protected], or Robert Gillies, CFO, (403) 829-8639 or via e mail: [email protected]
CO: Kairos Capital Corporation
CNW 08:00e 09-NOV-17