TORONTO, Oct. 27, 2017 (GLOBE NEWSWIRE) -- Kilo Goldmines Ltd. ("Kilo" or “KGL” or the "Company") (TSX VENTURE:KGL) (FRANKFURT:02K) announced today that it has applied to the TSX Venture Exchange for acceptance to extend the expiry date of 12,993,386 outstanding common share purchase warrants for an additional twelve month period to December 24, 2018. Each warrant currently entitles the holder to purchase one common share of the Company at a price of $0.095 per share until December 24, 2017. Insiders of the Company own approximately 2.2% of the outstanding warrants. The extension of the warrants is subject to acceptance by the TSX Venture Exchange.
About Kilo
Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company holds about 2,417 km² of prospective Archaean Kibalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.
Incorporated within these licences is:
- the Somituri project (71.25% owned by KGL), comprising six contiguous licences (361km²) held by KGL-Somituri SARL
- the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2,056 km²), for gold and associated minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation interest. Upon completion of the PFS, KGL can participate in funding or Randgold will increase its participation to 65% by completing a Feasibility Study. Areas which may be deemed of no interest to Randgold will be returned to KGL.
KGL has retained the rights to explore for and develop iron ore resources and other minerals associated with the licences held by KGL Isiro SARL.
For further information, please contact:
Philip Gibbs
Interim CEO
+1 416 360 3406
philip.gibbs@kilogoldmines.com
Disclaimer
This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning Kilo’s future plans and operations, including management's assessment, project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond Kilo’s control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.
Neither 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.