Kilo Goldmines Ltd. (CVE:KGL) announced that it has completed the final tranche of its previously announced brokered private placement raising gross proceeds of Cdn$3,662,940, for an aggregate total of $5.0 million.

Kilo Goldmines Ltd. (TSXV:KGL) announced that it has completed the final tranche of its previously announced brokered private placement raising gross proceeds of Cdn$3,662,940, for an aggregate total of $5.0 million.

The press release is quoted as saying:

Kilo issued and sold today 18,314,700 units (“Units”) of the Company at a price of Cdn$0.20 per Unit, with each Unit comprised of one common share in the capital of Kilo and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share in the capital of Kilo at an exercise price of Cdn$0.30 per share until October 7, 2012.

Click here to access the entire press release