Kairos announces private placement
Kairos announces private placement
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
./
TSX Venture Exchange: "KRS"
Private Placement
CALGARY
,
Oct. 30, 2017
/CNW/ - Kairos Capital Corporation ("
Kairos
" or the "
Corporation
") is pleased to announce that it intends to
complete a non-brokered private placement (the "
Private Placement
") of a minimum (the "
Minimum Offering
") of 2,174,000 units of the
Corporation ("
Units
") and maximum (the "
Maximum Offering
") of 7,610,000 Units, at a price of
$0.46
per Unit, for gross proceeds to the
Corporation of a minimum of
$1,000,040
and a maximum of
$3,500,600
. 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.
The Corporation will use the proceeds from the Private Placement for general working capital and to fund continued development and exploration
activities on its Lithium properties in Chile. In the event of the Minimum Offering, the Corporation intends to allocate the entire proceeds towards
its development and exploration activities. In the event of the Maximum Offering, the Corporation intends to allocate
$3,000,000
to development
and exploration activities and
$500,600
to general working capital. Although the Corporation intends to use the proceeds of the Private
Placement as described herein, the actual allocation of proceeds may vary from the uses set forth above, depending on future operations, capital
commitments, additional financing requirements or unforeseen events or opportunities.
The Corporation intends to rely upon in the Private Placement, among other exemptions, the prospectus exemptions available for sales to
purchasers advised by investment dealers in the offering jurisdictions of
British Columbia
,
Alberta
and Saskatchewan.
The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four month hold period from the date of closing.
Kairos may engage agents in connection with the Private Placement and in connection therewith may pay a cash commission equal to 7% of the
proceeds of the Private Placement. Agents may also receive warrants equal to 7% of the number of Common Shares issued under the Private
Placement. Each warrant will entitle the holder to acquire a Common Share for a price of
$0.46
for a period of one year. Commission payments
and the issuance of warrants remain subject to TSX Venture Exchange ("
TSXV
") approval.
The Corporation confirms there is no material fact or material change related to it which has not been generally disclosed.
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.
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/October2017/30/c3027.html
%SEDAR: 00030645E
For further information:
Steven Cochrane, President & CEO, Kairos Capital Corporation, #900, 903 - 8th Street SW, Calgary, Alberta T2P
0P7, (W) (587) 393-5801, (C) (403) 852-7117 or via email: [email protected]; or: Robert Gillies, CFO, (403) 829-8639 or via e mail:
CO: Kairos Capital Corporation
CNW 07:15e 30-OCT-17