Kalo Gold Expands Private Placement to $4.52 Million

Vancouver-based Kalo Gold Corp. announced an increased non-brokered private placement to $4,521,750, up from the initially planned $2,000,000. This decision comes in response to significant market demand. The offering will include up to 90,435,000 units at a price of $0.05 per unit. Each unit comprises one common share and one warrant, allowing the holder to acquire an additional share at $0.08. This offer is pending TSXV approval.

Proceeds from the placement will fund a drilling program at Kalo's Vatu Aurum Project in Fiji, focusing on several promising geological targets. Additional funds will support general working capital and marketing efforts. The units and underlying securities will have a four-month hold period, as per applicable laws.