MONTREAL, QUEBEC--(Marketwired - Oct. 18, 2013) -Management of KHALKOS EXPLORATION INC. ("Khalkos" or the "Corporation") (TSX VENTURE:KAS) completed the closing of the private placement announced in September. A total amount of $275,400 was subscribed in this closing. It was composed of 1,840,000 units at $0.05, each comprised of one Common Share and one warrant for an amount of $92,000. In addition, 3,668,000 flow-through units that were subscribed at $0.05 each, for a total $183,400. These units were composed of one flow-through share and one-half warrant. A total of 5,508,000 shares were issued as well as 3,674,000 warrants. Each warrant will entitle its holder to subscribe for one Common Share at $0.10 per share for a period of 24 months after the closing date. An officer and two directors of the Corporation participated in the placement for an amount of $55,000.
A finder's fee of $17,540 for the flow-through units was paid while none was paid for the units. In addition, 350,800 warrants were issued to a finder. Each warrant will entitle its holder to subscribe for one Common Share at $0.05 per share for a period of 24 months after the closing date. There will be a hold period of four months and one day on all securities issued under this financing. This private placement has received the conditional approval of the TSX Venture Exchange.
The proceeds of this placement will be mainly used by Khalkos to develop the Villebon property. A series of fieldwork such as stripping, bulk sampling program, metallurgical tests, and the validation of the historical data will be undertaken. The placement will also be used for general purposes of the Corporation. Please visit the Khalkos' web site for more information on the Villebon property.
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 release.