Kalo Gold Announces C$1.5 Million Non-brokered Private Placement Led by Strategic Investor Ascentas

Kalo Gold Corp. has announced a non-brokered private placement of up to 50 million common shares at $0.03 per share, aiming to raise C$1.5 million. The key investor in this offering is Ascentas Capital Management Limited, contributing C$1,084,662.

Upon completion of the offering, Ascentas will hold approximately 19.9% of Kalo Gold. The offering is subject to TSX.V approval. Shares issued will be under a four-month hold period as per securities laws.

Proceeds from the offering will fund exploration of Kalo Gold's Vatu Aurum Project in Fiji, including geological mapping, trenching, and diamond drilling. Additionally, funds will support general working capital and marketing activities.

The shares offered have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. without registration or an applicable exemption.