TORONTO, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Sergei Stetsenko (the "Purchaser") announces his direct and indirect acquisition of shares of Kilo Goldmines Ltd., ("Kilo Goldmines" or the "Corporation").
The Corporation's head office is located at 141 Adelaide Street West, Suite 1200, Toronto, Ontario M5H 3L5. The common shares of the Corporation (the "Common Shares") are listed on the TSX Venture Exchange under the symbol KGL.
Mr. Stetsenko is the Chief Executive Officer and beneficial owner of CRG Finance AG ("CRG Finance"), an investment company based out of Zug, Switzerland. Between December 28, 2017 and January 5, 2018, CRG Finance purchased, through market transactions on the TSX Venture Exchange, 3,737,000 Common Shares of the Corporation representing approximately 2.2% of the Corporation's outstanding Common Shares. The Common Shares were purchased at an average price of $0.041 per Common Share for total proceeds of $153,425.00.
Prior to this sale, the Purchaser directly owned and controlled an aggregate of 10,043,000 Common Shares, while CRG Finance directly owned and controlled an aggregate of 3,025,000 Common Shares. In addition, the Purchaser owns and controls, directly or indirectly, an aggregate of 2,300,000 Common Share purchase warrants of the Corporation (each a "Warrant"), with an aggregate of 2,000,000 Warrants held directly and 300,000 Warrants held by CRG Finance. Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.135 per Common Share. These holdings represented approximately 7.7% of the then issued and outstanding Common Shares on a non-diluted basis and 9.1% on a partially diluted basis assuming exercise of the Warrants.
Following this sale the Purchaser, directly, and through CRG Finance, owns and controls an aggregate of 16,805,000 common shares and 2,300,000 Warrants, representing approximately 9.9% of the outstanding common shares on a non-diluted basis and 11.3% on a partially diluted basis assuming exercise of the Warrants.
The Common Shares were purchased for investment purposes. The Purchaser has a long-term view of the investment and may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of the early warning report with respect to the foregoing will appear with Kilo Goldmines' profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by contacting:
Sergei Stetsenko
Telephone: +41793183937
E-mail: s.serge@gmail.com