Khalkos Exploration Inc.

Khalkos Exploration Inc.

December 30, 2015 16:02 ET

Khalkos Exploration Inc.: Closing of Private Placements for $142,800

MONTREAL, QUEBEC--(Marketwired - Dec. 30, 2015) - EXPLORATION KHALKOS INC. (TSX VENTURE:KAS) completed today the first closing of a non-brokered private placement of units and the final closing of a flow-through share private placement for a total of $ 142,800. An amount of $ 91,600 was raised through the issuance of flow-through shares, while an additional $ 51,200 came from the issuance of units.

Khalkos issued 916,000 flow-through common shares at $ 0.10 per share. A total of 640,000 units was subscribed. Each unit sold at $ 0.08 includes one common share of Khalkos and one warrant. Each warrant gives its holder the right to purchase one common share at $ 0.12 over the twelve months following the closing date. An officer and three directors of the company subscribed in the financings for a total of $ 17,700. Finder's fee of $ 5,960 was paid for the flow-through share financing.

The securities issued are subject to a hold period of four months and one day. These private placements have received the conditional approval of the TSX Venture Exchange.

The proceeds of these placements will be used primarily to carry out exploration on the Malartic gold property located 30 km northwest of the city of Val-d'Or and for administrative purposes. Please refer to the website of Khalkos for more information.

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.

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