Kelso Technologies Inc. Announces Closing of Non-Brokered Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia and BONHAM, Texas, March 05, 2021 (GLOBE NEWSWIRE) -- Kelso Technologies Inc. (“Kelso” or the “Company”), (TSX: KLS), (NYSE American: KIQ) announces that the previously announced non-brokered private placement (see the Company’s news releases dated February 2 and February 4, 2021) (the “Private Placement”) has been fully subscribed and has closed on a total of 7,000,000 units for gross proceeds of approximately $6,300,000. Each unit consists of one common share of the Company (a “Common Share”) and a one half of one Common Share purchase warrant of the Company (each whole Warrant, a "Warrant"). Each Warrant can be exercised at a price of CAD$1.15 on or before 4:00 p.m. (Vancouver time) on March 4, 2022 and CAD$1.30 on or before 4:00 p.m. (Vancouver time) on March 4, 2023.

All common shares issued under the Private Placement will be subject to a hold period expiring on July 5, 2021, in accordance with applicable Canadian securities laws.

The proceeds of the Private Placement will be used for the capital requirements of the Company’s 2021 business plans including ongoing marketing initiatives and scheduled new product development.

The common shares issued under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States.

About Kelso Technologies

Kelso is a diverse product development company that specializes in the design, production and distribution of proprietary service equipment used in transportation applications. The Company’s reputation has been earned as a designer and reliable supplier of unique high-quality rail tank car valve equipment that provides for the safe handling and containment of hazardous and non-hazardous commodities during transport. All Kelso products are specifically designed to provide economic and operational advantages to customers while reducing the potential effects of human error and environmental harm.