TSX Venture Exchange:
"KRS"
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
CALGARY, Nov. 9, 2017 /CNW/ - Kairos Capital Corporation
("Kairos" or the "Corporation") is pleased to
announce that it has, subject to TSX Venture Exchange Inc. (the
"TSXV") final approval, closed the first tranche of its
previously announced non-brokered private placement (the
"Private Placement") of units of the Corporation
("Units") pursuant to which Kairos issued an aggregate
of 6,363,100 Units for gross proceeds of CDN $2,927,026 (the "First Tranche"). 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.
In connection with the First Tranche, Kairos has paid finders a
cash commission of 7% of the proceeds of the First Tranche that
resulted from such parties efforts, subject to compliance with
applicable securities laws. The finders have also been
granted broker warrants to purchase 7% of the number of Common
Shares sold under the First Tranche as a result of such parties
efforts, which resulted in Kairos issuing an aggregate 445,417
broker warrants. Each broker warrant entitles the holder to
purchase one Common Share at a price of CDN $0.46 for a period of one year from the closing
of the First Tranche.
The net proceeds of the First Tranche and the Private Placement
will be used by the Corporation for general working capital and to
fund continued development and exploration activities on its
Lithium properties in Chile.
Pursuant to applicable securities laws, all securities issued
pursuant to the First Tranche will be subject to a hold period of
four months plus one day following the date of issuance of such
securities.
Completion of the First Tranche and the Private Placement is
subject to certain conditions, including but not limited to, final
approval of TSXV.
The Private Placement has been fully subscribed and Kairos
anticipates closing on the remaining Units available under the
Private Placement early next week.
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 and the closing of the second tranche 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.
SOURCE Kairos Capital Corporation