Kalo Gold Announces Closing of Second and Final Tranche of Life Offering and Concurrent Private Placement for Total Gross Proceeds of $12.45 Million to Advance the Vatu Aurum Project

Executive Summary

• Kalo Gold Corp. closed the final tranche of its previously announced non‑brokered private placement (1,480,275 units at $0.32) raising $473,688 and simultaneously closed a second tranche (4,680,625 units) raising $1,497,800, for total proceeds of $1,971,488.
• Including the first tranche, aggregate issuance totals 38,920,275 units with cumulative gross proceeds of $12,454,488.
• Net proceeds are earmarked for drilling and exploration at the Vatu Aurum Project, as well as working capital, marketing, and general corporate purposes.

Key Details

• Final Tranche (LIFE Offering): 1,480,275 units @ $0.32 per unit → $473,688 gross proceeds.
• Second Tranche (Concurrent Offering): 4,680,625 units @ $0.32 per unit → $1,497,800 gross proceeds.
• Total of Both Tranches: $1,971,488 gross proceeds.
• Cumulative Issuance to Date: 38,920,275 units for total gross proceeds of $12,454,488.
• Unit Composition: Each unit = 1 common share + ½ common share purchase warrant.
• Warrant Terms: Exercise price $0.50; exercisable for 36 months from issue; expiry may accelerate if TSXV VWAP > $0.75 for 20 consecutive trading days (expiry then 30 days after notice).
• Hold Periods: LIFE Offering securities – no hold period for Canadian investors; warrants not exercisable within 60 days. Concurrent Offering securities – 4‑month hold period under Canadian law.
• Use of Proceeds: Drilling and exploration on the Vatu Aurum Project; working capital; marketing; general corporate purposes.
• Finder’s Fees & Warrants: $209,046 paid in finder’s fees; issuance of 1,260,261 finder’s warrants (exercise price $0.50, 36‑month term).
• Related Party Transaction: One insider purchased ~C$32,000 of units in the Concurrent Offering; transaction deemed exempt from MI 61‑101 valuation and minority approval thresholds (<25% market cap).
• U.S. Securities Restrictions: Units not registered under U.S. securities laws; cannot be offered or sold to U.S. persons absent exemption.

Notable Quotes

“I would like to thank both our new and existing shareholders for their strong support in this financing,” said Terry L. Tucker, P.Geo., President and CEO of Kalo Gold Corp. “With this financing now completed, we look forward to continuing exploration at the Vatu Aurum Project and will provide a comprehensive update on our 2026 exploration plans shortly.”