/NOT FOR DISTRIBUTION TO UNITED STATES NEWSIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
CALGARY, Dec. 31 /CNW/ - Kallisto Energy Corp. (TSX Venture: KEC) ("Kallisto" or the "Company") announces that it has closed a non-brokered private placement of
433,500 Flow Through Common Shares (the "Flow Through Shares") at a price of $0.85 per Flow Through Share for gross proceeds of
The gross proceeds from the sale of the Flow Through Shares will be used
to fund ongoing exploration activities eligible for Canadian
exploration expenses ("CEE"), which will be renounced in favour of the subscribers of the Flow
Through Shares effective December 31, 2010. No insiders participated in
the private placement.
Kallisto is a Calgary-based junior resource company engaged in the
exploration, development and production of oil and natural gas,
primarily in Alberta.
Forward Looking Information
The reader is advised that some of the information herein may constitute
forward looking statements within the meaning assigned by National
Instrument 51-102 and other relevant securities legislation. In
particular these include, but are not limited to, statements with
respect to the use of proceeds of the private placement and incurring
and renouncing certain expenditures to investors on a flow-through
basis. These statements are based on management's current expectations.
The reader is cautioned that assumptions used in the preparation of
such information, although considered reasonable by Kallisto at the
time of preparation, may prove to be incorrect and readers are
cautioned not to place undue reliance on forward-looking information,
which speaks only as of the date hereof. The Company does not undertake
any obligation to release publicly any revisions to forward-looking
information contained herein to reflect events or circumstances that
occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable
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:
President and Chief Executive Officer
Telephone: (403) 237-9996
Facsimile: (403) 264-0416