Kairos Announces Closing the Second Tranche of Non-Brokered Private Placement
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Calgary, Alberta (FSCwire) - Kairos Capital Corporation ("Kairos" or the "Corporation") is pleased to announce that it has, subject to TSX Venture Exchange Inc. (the "TSXV") approval, closed the final tranche of its non-brokered private placement (the "Private Placement") for an aggregate of 10,100,000 common shares (“Common Shares”) of Kairos at a price of $0.20 per Common Share for gross proceeds to the Corporation of $2,020,000.
The second tranche involved the issuance of 4,780,000 Common Shares for gross proceeds of CDN$956,000 (the "Second Tranche"). Kairos paid agents a cash commission of 7% of the proceeds and granted warrants to purchase 5% of the number of Common Shares sold under the Second Tranche, with each warrant entitling the holder to purchase one Common Share at a price of CDN$0.25 for a period of one year from closing of the Second Tranche.
The net proceeds of the Private Placement will be used by Kairos to fund continued development and exploration activities on its lithium claims in Chile and for general working capital purposes.
All securities issued pursuant to the Second Tranche are subject to a hold period of four months plus one day following the closing date.
About Kairos
Kairos holds a significant lithium property portfolio which now consists of approximately 34,200 hectares over 7 salars, all located entirely within Chile. Preliminary sampling and assaying results from shallow depth over the first 3 of the salars have been received and confirm management’s belief that the portfolio is 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.
For further information contact
Al Kroontje, President
Kairos Capital Corporation
#900, 903 – 8th Street SW
Calgary, Alberta T2P 0P7
(403) 607-4009; or via e mail: al@kasten.ca
or:
Robert Gillies, CFO
(403) 829-8639 or via e mail: robertlgillies@gmail.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kairos03162017.pdf
Source: Kairos Capital Corporation (TSX Venture:KRS)
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