Kallisto Energy Corp. Announces Further Information in Respect of Closing of
$10.1 Million Bought Deal Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

CALGARY, June 8 /CNW/ - Kallisto Energy Corp. ("Kallisto" or the "Company") (TSX VENTURE:KEC) announces that, further to its earlier news release regarding the closing of its $10.1 million bought deal financing, insiders participated as to approximately 13.3% of the offering, including a purchase of 300,000 common share purchase warrants by one of the officers of the Company. A "gypsy swap" was carried out following the closing of the offering such that the officer of the Company sold 300,000 common shares by way of a pre-arranged sale through the facilities of the TSX Venture Exchange to a purchaser designated by the Underwriters.

The private placement financing was facilitated by a syndicate of underwriters (the "Underwriters") led by Acumen Capital Finance Partners Limited and including Canaccord Genuity Corp. and Versant Partners Inc. pursuant to which the Underwriters have purchased on a bought deal basis 10,428,000 common share special warrants of the Company at an issue price of $0.825 per warrant and 1,578,948 common share special warrants issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) at a price of $0.95 per warrant.

ABOUT KALLISTO

Kallisto is a Calgary-based junior resource company engaged in the exploration, development and production of oil and natural gas in Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Kallisto Energy Corp.

For further information: For further information: Robyn Lore, President and CEO, Telephone: (403) 237-9996, Facsimile: (403) 264-0416

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Kallisto Energy Corp.

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