Libra Fund II (Luxembourg) S.à r.l. Acquires Common Shares of Kilo Goldmines Ltd. for Investment Purposes

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

Profil de l'entreprise

Libra Advisors, LLC

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