Kalo Gold raised $12.45M in a private placement to fund exploration at its Vatu Aurum Project.

Kalo Gold Corp. closed the final tranche of its private placement, raising $12.45 million in gross proceeds through a $473,688 LIFE Offering and a $1.497 million Concurrent Offering, both at $0.32 per unit. The company issued 38,920,275 units, each with one share and half a warrant exercisable at $0.50 for 36 months. Proceeds will fund drilling and exploration at the Vatu Aurum Project, along with working capital. Finder’s fees of $209,046 and 1,260,261 warrants were issued. Securities from the LIFE Offering have no hold period for Canadian residents, while those from the Concurrent Offering are subject to a four-month hold. The transaction was exempt under MI 61-101 due to its size relative to market capitalization.