TORONTO, Nov. 11, 2011 /CNW/ - Libra Advisors, LLC ("Libra") announced
today that Libra Fund II (Luxembourg) S.à r.l. (the "Fund") has
acquired a total of 10,000,000 common shares at a price of $0.20 per
common share of Kilo Goldmines Ltd. ("Kilo"), representing 4.6% of the
total common shares of Kilo, pursuant to a private placement.
As a result of this acquisition and together with securities previously
held by the Fund, the Fund now owns 26,860,000 common shares,
representing approximately 12.4% of the total outstanding common shares
of Kilo and 10,000,000 Warrants of Kilo that, if exercised, together
represent approximately 16.3% of the total outstanding common shares of
The Fund acquired the common shares 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