MONTREAL, QUEBEC--(Marketwired - Sept. 25, 2013) - Management of KHALKOS EXPLORATION INC. ("Khalkos" or the "Corporation") (TSX VENTURE:KAS) announces its intent to undertake a non-brokered private placement with accredited investors. The placement consists of a maximum of 6,000,000 units and 6,000,000 flow-through units for gross proceeds totaling $600,000. Each unit price is $0.05 and consists of one Common Share and one warrant. As for the flow through unit, its price will also be $0.05 and consists of one flow through share with half of a warrant. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.10 per share for a period of 24 months after the closing date of the private placement.
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 company. Please visit the Khalkos' web site for more information on the Villebon property.
Khalkos can pay certain intermediaries a finder's fee in cash based on the subscriptions introduced by those intermediaries, up to a maximum of 10 % of the total amount of subscriptions. Directors, officers and employees may participate in this placement.
There will be a hold period of four months and one day on all securities issued under this financing. This private placement is subject to regulatory approval and filings.
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.