Kairos Capital announces $3.5M private placement

News Release

Kairos announces private placement


TSX Venture Exchange: “KRS”

Private Placement

CALGARY, Oct. 30, 2017 /CNW/ – Kairos Capital Corporation (“Kairos” or the “Corporation”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of a minimum (the “Minimum Offering”) of 2,174,000 units of the Corporation (“Units”) and maximum (the “Maximum Offering”) of 7,610,000 Units, at a price of $0.46 per Unit, for gross proceeds to the Corporation of a minimum of $1,000,040 and a maximum of $3,500,600. Each Unit is comprised of one (1) common share in the capital of the Corporation (a “Common Share”) and one-third (1/3) of one common share purchase warrant of the Corporation (a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one (1) Common Share at a price of $0.69 per share expiring eighteen (18) months from the date of issuance.

The Corporation will use the proceeds from the Private Placement for general working capital and to fund continued development and exploration activities on its Lithium properties in Chile. In the event of the Minimum Offering, the Corporation intends to allocate the entire proceeds towards its development and exploration activities. In the event of the Maximum Offering, the Corporation intends to allocate $3,000,000 to development and exploration activities and $500,600 to general working capital. Although the Corporation intends to use the proceeds of the Private Placement as described herein, the actual allocation of proceeds may vary from the uses set forth above, depending on future operations, capital commitments, additional financing requirements or unforeseen events or opportunities.

The Corporation intends to rely upon in the Private Placement, among other exemptions, the prospectus exemptions available for sales to purchasers advised by investment dealers in the offering jurisdictions of British Columbia, Alberta and Saskatchewan.

The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four month hold period from the date of closing.

Kairos may engage agents in connection with the Private Placement and in connection therewith may pay a cash commission equal to 7% of the proceeds of the Private Placement. Agents may also receive warrants equal to 7% of the number of Common Shares issued under the Private Placement. Each warrant will entitle the holder to acquire a Common Share for a price of $0.46 for a period of one year. Commission payments and the issuance of warrants remain subject to TSX Venture Exchange (“TSXV”) approval.

The Corporation confirms there is no material fact or material change related to it which has not been generally disclosed.

About Kairos

Kairos holds a significant Lithium property portfolio which now consists of approximately 53,600 hectares over 11 salars, all located entirely within Chile (the “Lithium Claims”). Preliminary sampling and assaying results from shallow depth over the first 5 of the salars have been received and confirm management’s belief that the Lithium Claims are highly prospective for economic lithium brine accumulations.

Reader Advisory

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Kairos Capital Corporation

For further information: Steven Cochrane, President & CEO, Kairos Capital Corporation, #900, 903 – 8th Street SW, Calgary, Alberta T2P 0P7, (W) (587) 393-5801, (C) (403) 852-7117 or via email: steve@lithiumchile.ca; or: Robert Gillies, CFO, (403) 829-8639 or via e mail: robertlgillies@gmail.com