Kalo Gold Holdings (TSE:KALO) has released an update.
Kalo Gold Corp. has announced a non-brokered private placement aiming to raise C$1.5 million, with leading investment from Ascentas Capital Management Limited, acquiring a 19.9% stake in the company for C$1.08 million. The proceeds from the sale of common shares will support exploration activities at Kalo’s wholly-owned Vatu Aurum Project in Fiji, alongside general capital and marketing needs. The offering is pending TSX.V approval and will be subject to a four-month hold period as per securities regulations.
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