KO Gold Closes First Tranche of Non-Brokered Private Placement

Executive Summary

• KO Gold Inc. closed the first tranche of its non‑brokered private placement, raising $1,980,475.35 from the issuance of 13,203,169 units at $0.15 per unit.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.25 for three years; finder's fees of $28,735 were paid and 191,567 finder’s warrants issued.
• The net proceeds are earmarked for general working capital and to fund ongoing exploration and drilling programs in New Zealand’s Otago Gold District.

Key Details

• Units Issued: 13,203,169 (each = 1 common share + 1 warrant) at $0.15 per unit.
• Gross Proceeds – First Tranche: $1,980,475.35.
• Warrant Terms: Exercise price C$0.25; exercisable for three years from issuance.
• Finder’s Compensation: Cash fee of $28,735 and 191,567 finder’s warrants (same terms as placement warrants).
• Statutory Hold Period: All securities issued in the first tranche are subject to a hold period expiring May 15, 2026.
• Second Tranche: Up to approximately $2,439,030 pending shareholder written consent and regulatory approvals; will be closed after required approvals.
• Use of Proceeds: General working capital and funding of exploration/drilling programs in the Otago Gold District, New Zealand.
• Shareholder Approval Requirement: Needed because issuance would exceed 100% of fully‑diluted shares under CSE policies; company is seeking written consent from shareholders holding a majority of outstanding common shares.

Notable Quotes

(No direct quotes were provided in the release.)