This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
CALGARY, Alberta, May 16, 2018 (GLOBE NEWSWIRE) -- Pursuant to a plan of arrangement ("Arrangement") completed on May 8, 2018, shareholders of Lithium Chile Inc. ("LITH") each received one (1) common share ("Common Share") of Kairos Metals Corp. (the "Issuer") for each four (4) common shares of LITH (each a "LITH Share") held by them on May 7, 2018, which was the distribution record date for the Arrangement. As a result of the Arrangement, Mr. Kroontje acquired 2,811,750 Common Shares.
Prior to the closing of the Arrangement Mr. Kroontje, did not own any Common Shares.
Immediately after the closing of the Arrangement, Mr. Kroontje owned 2,811,750 Common Shares representing 11.15% of the issued and outstanding Common Shares.
The Common Shares are being held by Mr. Kroontje for investment purposes only, and Mr. Kroontje may from time to time, acquire or dispose of all or a portion of the Common Shares.
A report respecting this acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Issuer’s profile at www.sedar.com.
For further information or to obtain a copy of the early warning report, please contact Al J. Kroontje, Interim President and Chief Executive Officer of the Issuer at (403) 607-4009 or via email at al@kasten.ca.