Calgary, Alberta, February 27, 2025 - Kairos Gold Inc. ("Kairos" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of units (the "Offering") at a price of $0.20 per Unit. Closing involved the issuance of 6,825,000 Units for aggregate gross proceeds of $1,365,000 (the "Offering").
Each Unit is comprised of one (1) common share of the Company (each a "Common Share") and one-half of a Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share in the capital of the Company at a price of $0.35 per share at any time prior to 5:00 p.m. (Calgary time) on the date that is thirty-six (36) months from the date of issuance of the Warrants. The Warrants include an acceleration provision whereby if the Common Shares are listed and trade at a price greater than $0.65 for a period of 10 trading days, Kairos may accelerate the expiry of the Warrants.
In connection with the closing of the Offering, Kairos paid cash commissions to qualified non-related parties in the aggregate amount of $56,280 and issued an aggregate of 281,250 broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder to acquire one Common Share at a price of $0.20 per Broker Warrant for a period of one (1) year from the date of issuance.
Following the positive drilling results reported by the Company on January 28, 2025, Kairos intends to use a portion of the net proceeds to fund a follow-up drill program on the Company's Las Garillas property as well as for general and administrative expenses, payment obligations related to the Company's properties, and for general working capital requirements.
Commenting on completion of the Offering, Michelle DeCecco remarked: "We are thrilled with the overwhelming support from our investors which allowed us to close above the maximum. We are working diligently to complete the listing and advance further exploration activities on our Chilean gold properties."
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Statements about planned programs, timing, budgets and geological potential are forward-looking and subject to permits, financing, contractor availability and results. See the disclaimer.