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Kilo Goldmines Announces Pricing for Share Offering; Shares Down 17%

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Kilo Goldmines Ltd. (KGL.V) announced that it has agreed upon the pricing of its previously announced short form prospectus offering with the agents for the offering.

Units consisting of one common share in the capital of the company and one common share purchase warrant will be offered under the prospectus at a price of $0.10 per unit to raise gross proceeds of a minimum of $10 million through the issuance of a minimum of 100 million units.

The company expects to use the net proceeds from the offering to fund further exploration of the company's Somituri gold property in the Democratic Republic of Congo and for working capital and general corporate purposes.

KGLK shares fell 1.5 cents to $0.075 on volume of 25,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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