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TSX Venture Exchange: "KRS"
Private Placement
CALGARY, Oct. 30, 2017 /CNW/ - Kairos Capital Corporation
("Kairos" or the "Corporation") is pleased to
announce that it intends to complete a non-brokered private
placement (the "Private Placement") of a minimum (the
"Minimum Offering") of 2,174,000 units of the Corporation
("Units") and maximum (the "Maximum Offering") of
7,610,000 Units, at a price of $0.46
per Unit, for gross proceeds to the Corporation of a minimum of
$1,000,040 and a maximum of
$3,500,600. Each Unit is
comprised of one (1) common share in the capital of the Corporation
(a "Common Share") and one-third (1/3) of one common share
purchase warrant of the Corporation (a "Warrant"). Each
whole Warrant entitles the holder thereof to purchase one (1)
Common Share at a price of $0.69 per
share expiring eighteen (18) months from the date of issuance.
The Corporation will use the proceeds from the Private Placement
for general working capital and to fund continued development and
exploration activities on its Lithium properties in Chile. In
the event of the Minimum Offering, the Corporation intends to
allocate the entire proceeds towards its development and
exploration activities. In the event of the Maximum Offering, the
Corporation intends to allocate $3,000,000 to development and exploration
activities and $500,600 to general
working capital. 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 intends to rely upon in the Private Placement,
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.
The Common Shares and Warrants issued pursuant to the Private
Placement will be subject to a four month hold period from the date
of closing.
Kairos may engage agents in connection with the Private
Placement and in connection therewith may pay a cash commission
equal to 7% of the proceeds of the Private Placement. Agents
may also receive warrants equal to 7% of the number of Common
Shares issued under the Private Placement. Each warrant will
entitle the holder to acquire a Common Share for a price of
$0.46 for a period of one year.
Commission payments and the issuance of warrants remain subject to
TSX Venture Exchange ("TSXV") approval.
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 and the ability of the
Corporation to explore its existing properties and the Lithium
Claims and statements pertaining to the Private Placement,
including the Corporation's ability to obtain necessary approvals
from the TSXV.
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.
SOURCE Kairos Capital Corporation