Kairos Announces Private Placement
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Calgary, Alberta (FSCwire) - Kairos Capital Corporation (“Kairos” or the “Corporation”) announces that it intends to proceed with a private placement of up to 50,000,000 common shares at a price of $0.01 per share for total gross proceeds of $500,000 (the “Private Placement”). The Private Placement is not subject to any minimum offering.
Proceeds from the Private Placement will be used to retire a current working capital deficit of approximately $310,000, to fund annual lease payments due in respect of the Corporation’s properties in Chile and for general working capital purposes. In addition to accrued but not paid consulting fees owing to the Corporation’s Vice-President, Exploration of approximately $30,000, the proceeds of the private placement will also be used to pay those consulting fees for the upcoming year so as to continue field recognizance activities on the Corporation's properties in Chile.
The Corporation intends to rely on the prospectus exemption available to it pursuant to Multilateral CSA Notice 45 -313 (“MI 45-313”) allowing the Corporation to distribute securities to its existing security holders. The Board of Directors of the Corporation has set March 30, 2015 as the record date for the purposes of determining the shareholders eligible for the MI 45-313 exemption. Pursuant to MI 45-313, all shareholders of Kairos as of March 30, 2015 are eligible to invest up to $15,000 (without suitability advice) in the Private Placement. Eligible shareholders should contact Al Kroontje the President of the Corporation using the contacts below to request the subscription agreement. The Private Placement will also be sold to “accredited investors”.
The Corporation does not intend to engage a registered dealer in respect of the private placement and as such, no commission is intended to be paid in respect of the private placement. Additionally, no warrants or other convertible securities will be part of the private placement.
Kairos is a Canadian corporation whose common shares are posted for trading on the TSX Venture Exchange Inc. (ticker symbol “KRS”). Kairos holds a property portfolio exclusively in Chile and is currently conducting ground recognisance activities on them through its wholly-owned subsidiary Minera Kairos Chile Limitada. During this challenging period in the mining sector, the Corporation’s activities are focused on maintaining its existing property portfolio that holds promise for copper/gold or gold/copper deposits.
Reader Advisory: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in its policies) accepts responsibility for the adequacy or accuracy of this press release.
For further information contact
Kairos Capital Corporation
#200, 407 – 3rd Street SW
Calgary, Alberta T2P 4Z2
(403) 607-4009; or via e mail: email@example.com
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Source: Kairos Capital Corporation (TSX Venture:KRS)
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