Kilo Announces Proposed Private Placement

- July 23rd, 2010

Kilo Goldmines Ltd. (TSX VENTURE:KGL)(FRANKFURT:02K) announced that it has engaged M Partners and Vicarage Capital Ltd. to act as lead agents in connection with a private placement offering, to be completed on a marketed best efforts agency basis, to raise gross proceeds of up to Cdn$5.0 million from the sale of up to 25,000,000 units priced at C$0.20 per Unit.

Kilo Goldmines Ltd. (TSX VENTURE:KGL)(FRANKFURT:02K) announced that it has engaged M Partners and Vicarage Capital Ltd. to act as lead agents in connection with a private placement offering, to be completed on a marketed best efforts agency basis, to raise gross proceeds of up to Cdn$5.0 million from the sale of up to 25,000,000 units priced at C$0.20 per Unit.

The press release is quoted as saying:

Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol ‘KGL’ and on the Frankfurt Exchange under the symbol ‘02K’. The Company has over 16,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.

Click here to access the entire press release

Click here to access Kilo Goldmines Corporate Site

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