Kalo Gold Corp. Announces C$15.5 Million Private Placement for Fiji Exploration

Vancouver-based Kalo Gold Corp. has announced a C$15.5 million non-brokered private placement to boost exploration at its Vatu Aurum Project in Fiji. The offering comprises 48,437,500 units priced at $0.32 each, inclusive of a post-consolidation share and a half-warrant. Each warrant can be exercised for $0.50 over 36 months, subject to an accelerated expiry under certain market conditions.

The financing aims to fund drilling and exploration activities on the Vatu Aurum Project, along with supporting general corporate purposes. The deal is structured under the listed issuer financing exemption, allowing Canadian investors to avoid a hold period on acquired securities, though warrants remain non-exercisable for 60 days.

Kalo Gold's shares will undergo a 4:1 consolidation, prior to closing, and the firm may pay a finder's fee in compliance with TSX Venture Exchange policies. Investors are urged to review the offering document available on the company's SEDAR+ profile.