TORONTO, May 12 /CNW/ - Libra Advisors, LLC ("Libra") announced today
that Libra Fund II (Luxembourg) S.à r.l. (the "Fund") has acquired a
total of 20,000,000 units at a price of $0.20 per unit of Kilo
Goldmines Ltd. ("Kilo") pursuant to a final short form prospectus.
Each unit is comprised of one common share and one-half of one common
share purchase warrant (the "Warrant") in the capital of Kilo.
Each whole Warrant is exercisable for one common share at a price of
$0.30 for a period of 24 months from the closing date.
As a result of this acquisition, the Fund now owns 20,000,000 common
shares, representing approximately 12.2% of the total outstanding
common shares of Kilo and 10,000,000 Warrants of Kilo that, if
exercised, together represent approximately 17.2% of the total
outstanding common shares of Kilo.
The Fund acquired the units for investment purposes and may, from time
to time, acquire additional securities of Kilo or dispose of such
securities as it may deem appropriate.
Libra is the investment advisor to the Fund and maintains its principal
office at 777 Third Avenue, 27th Floor, New York, New York 10017.
SOURCE Libra Advisors, LLC
For further information:
Mr. Ranjan Tandon, Managing Member, at (212) 350-5125