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Kallisto Energy closes recapitalization financing


Published Oct 3, 2014
Kallisto Energy Corp.

Kallisto Energy Corp. has closed the previously announced Private Placement (the "Closing"), issuing an aggregate of approximately 296,296,296 units of Kallisto (Units) at a price of $0.03375 per Unit and approximately 444,444,444 common shares of Kallisto (Common Shares) at a price of $0.03375 per Common Share for total proceeds of approximately $25 million to the new management team and board of directors (the "New Management Team") together with other individuals and financial institutions identified by the New Management Team.

Each Unit consists of one Common Share and one performance warrant of Kallisto (a "Warrant"), which entitles the holder of such Warrant to purchase one Common Share at a price of $0.045 per Common Share within five years from the date of issuance with one-third vesting each of when the 20 day volume weighted average price (VWAP) of the Common Shares meets or exceeds $0.065, $0.085 and $0.11, respectively.

Tags: Kallisto Energy




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