CALGARY, ALBERTA -- (Marketwired) -- 09/11/14 -- NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Kairos Capital Corporation ("Kairos" or the "Corporation") (TSX VENTURE: KRS.P) is pleased to announce that it has closed its previously announced acquisition of the remaining interests not already owned or under option by Kairos in the Fortuna and Salvadora claims located in Chile (the "Transaction") from Polar Star Mining Corporation ("Polar Star"). As a result, the current option agreement in place between Polar Star and Kairos has been cancelled, and the the balance of the interests that were not acquired by Kairos as part of its Qualifying Transaction were conveyed to Kairos such that Kairos now owns a 100% interest in the Fortuna and Salvadora property claims (collectively the "Acquired Properties"). As consideration, Kairos issued 3,750,000 common shares of Kairos to Polar Star at a deemed price of $0.10 per share in connection with the Transaction and these common shares are subject to a four month hold period.
Kairos intends to complete a non-brokered private placement (the "Private Placement") of up to 20,000,000 common shares of Kairos at a price of $0.10 per common share for gross proceeds to the Corporation of up to $2,000,000 over the next three weeks. The Corporation will use the proceeds from the Private Placement to fund exploration activities on its properties in Chile. The common shares issued pursuant to the Private Placement will be subject to a four month hold period from the date of closing.
About Kairos
Kairos is incorporated under the Business Corporations Act (Alberta) and is headquartered in Calgary, Alberta. Kairos is engaged in mineral exploration in Chile through its wholly owned subsidiary, Minera Kairos Chile Limitada. Kairos' common shares are posted for trading on the TSX Venture Exchange. under the ticker symbol "KRS".
Reader Advisory
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
This press release contains forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this press release are made as of the date hereof and Kairos undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Contacts:
Kairos Capital Corporation
Al Kroontje
President and Director
(403) 607-4009
