Kalo Gold Announces Upsize of Non-brokered Private Placements to $5.21 Million

Not for distribution to United States newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.

VANCOUVER, BC / ACCESS Newswire / June 16, 2025 / KALO GOLD CORP. (TSXV:KALO) ("Kalo", "Kalo Gold" or the "Company") is pleased to announce that due to significant market demand, the Company has increased the size of its previously announced non-brokered private placement from $4,500,000 to $5,210,000. The upsized offering (the "Offering") will consist of up to 104,200,000units of the Company (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $5,210,000. The Company closed the first tranche on May 12, 2025 and issued 81,335,000 Units for gross proceeds of $4,066,750. The second and final tranche is expected to close on or around June 25, 2025.

Each unit will consist of one common share (each, a "Share") in the capital of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire an additional Share at an exercise price of $0.08 per Share for a period of twenty-four months from the date of issuance. In addition, the expiry date of the Warrants is subject to acceleration if the volume weighted average trading price of the Shares on the TSX Venture Exchange ("TSXV") (or such other stock exchange where the Shares are then listed or quoted) is greater than $0.15 for a period of twenty (20) consecutive trading days, in which case the expiry date of the Warrants may be accelerated to a date that is thirty (30) days following the date the Company provides notice to the Warrant holders, by way of a news release, that the expiry date has been accelerated.

The Offering is subject to TSXV approval. The Units and the underlying Shares and Warrants (including the Shares issuable upon exercise of the Warrants) will be subject to a four-month hold period, in accordance with applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein 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 may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This press release is not for distribution to U.S. newswire services nor for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.