Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest announcement is out from Kalo Gold Holdings ( (TSE:KALO) ).
Kalo Gold Corp. has closed the first tranche of its previously announced non-brokered Listed Issuer Financing Exemption offering and concurrent private placement, raising a combined C$10.48 million through the issuance of 32,759,375 units at C$0.32 per unit. Each unit comprises one common share and one-half of a warrant exercisable at C$0.50 for 36 months, with LIFE Offering securities freely tradable in Canada and Concurrent Offering securities subject to a four-month hold. The company plans to use the proceeds to fund drilling and exploration at its Vatu Aurum Project in addition to working capital, marketing and general corporate purposes, while noting that further tranches may be completed subject to TSX Venture Exchange and regulatory approvals; an insider participated for approximately C$500,000, structured under available related-party transaction exemptions.
Spark’s Take on TSE:KALO Stock
According to Spark, TipRanks’ AI Analyst, TSE:KALO is a Neutral.
Kalo Gold Holdings has a challenging financial outlook with significant revenue and profitability issues. Despite these financial headwinds, promising corporate developments in exploration projects and stable technical indicators offer some upside potential. However, the negative valuation metrics due to unprofitability remain a concern, making the overall outlook cautious.
To see Spark’s full report on TSE:KALO stock, click here.
More about Kalo Gold Holdings
Kalo Gold Corp. is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange, focused on gold exploration activities, including drilling and exploration work at its Vatu Aurum Project. The company targets resource development and value creation through advancing this project and related exploration initiatives, funding its operations primarily via equity financings in the junior mining sector.
Average Trading Volume: 813,860
Technical Sentiment Signal: Buy
Current Market Cap: C$24.84M
For an in-depth examination of KALO stock, go to TipRanks’ Overview page.