Kairos Announces Closing of Private Placement
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Calgary, Alberta (FSCwire) - Kairos Capital Corporation (“Kairos” or the “Corporation”) announces that it has closed its previously announced private placement involving the issuance of 50,000,000 common shares which were issued at a price of $0.01 per share for total gross proceeds of $500,000 (the “Private Placement”).
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
The Corporation relied 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 as well as the “accredited investor” exemption.
The Corporation did not engage a registered dealer in respect of the private placement and as such, no commission was paid in respect of the Private Placement. No warrants or other convertible securities were issued in connection with 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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