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Kairos Capital Corporation (“Kairos” or the “Corporation”) is pleased to announce that due to demand, it is increasing the size of the previously announced private placement (“Private Placement”) to a maximum of 10,000,000 shares of Kairos at a price of $0.40 per Common Share for gross proceeds to the Corporation of up to $4,000,000. The …
Kairos Capital Corporation (“Kairos” or the “Corporation”) is pleased to announce that due to demand, it is increasing the size of the previously announced private placement (“Private Placement”) to a maximum of 10,000,000 shares of Kairos at a price of $0.40 per Common Share for gross proceeds to the Corporation of up to $4,000,000. The Corporation intends to rely on, 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. In accordance with various local rules, orders and instruments enabling the exemption in the jurisdictions, the Corporation wishes to confirm the details included in its August 21, 2017 news release describing the details of the Private Placement.
The Corporation confirms that the Private Placement is for a minimum of 7,500,000 Common Shares and a maximum number of Common Shares issuable under the Private Placement of 10,000,000 common shares
The Corporation anticipates that it will use approximately $1,000,000 of the proceeds from the Private Placement for general working capital purposes and approximately $2,500,000 of the proceeds to fund continued development and exploration activities on its Lithium properties in Chile. 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 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; the ability of the Corporation to explore its existing properties and the Lithium Claims; and statements pertaining to the Private Placement, including, but not limited to, the allocation of proceeds 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.
For further information contact
Steven Cochrane
President, CEO
Kairos Capital Corporation
#900, 903 – 8th Street SW
Calgary, Alberta T2P 0P7
(587) 393-5801 or via email: steve@lithiumchile.ca
or:
Robert Gillies, CFO
(403) 829-8639 or via e mail: robertlgillies@gmail.com
Source: fscwire.com
