KGL Resources announced that it has entered into a debt settlement agreement with Loncor Gold, pursuant to which it is proposed that the Company will settle $620,000 of indebtedness owing to Loncor by the issuance of 8,857,142 post-consolidated common shares at a deemed price of $0.07 per share following a proposed share consolidation on the basis of one post-consolidated common share for every two pre-consolidated common [...]
KGL Resources announced today that it has completed a debt settlement transaction with Arlington Group Asset Management Limited issuing 1,794,000 common shares at a deemed issue price of $0.05 per share to settle indebtedness of C$89,700 owing to Arlington, consisting of C$65,000 loaned to the Company in September 2019 and accrued interest thereon of C$24,700. The Debt Settlement Shares issued are not subject to a holding [...]
KGL Resources announced that it has been advised by the TSXV that its listing will be transferred to the NEX Board of the TSXV effective as of the opening of trading on Tuesday, July 12, 2022. The Company previously announced that its listing was being reviewed by the Exchange as a result of the Company not meeting the Exchange's continued listing requirements and the transfer was made for this reason. The NEX is a [...]
KGL Resources announced that it has completed its previously announced share settlement transaction with former directors and officers, extinguishing all claims of such persons in consideration for the issuance of an aggregate of 1,420,000 common shares of the Company. The share settlement was approved by disinterested shareholders at the Company's annual and special shareholders' meeting held on June 20, 2022. All shares [...]
KGL Resources announced that it has entered into releases and settlement agreements with former directors and officers to settle indebtedness claimed to be owing to such persons aggregating approximately $946,000 and to release the Company from all other claims. Subject to regulatory approval, it is proposed that an aggregate of 1,500,000 common shares be issued in connection with the settlements at a deemed price of [...]
KGL Resources] announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 824,000 common shares to directors and officers of the Company under its Employee Stock Option Plan. Each option is exercisable for a five year period to acquire one common share at a price of $0.105 per share. The options granted are not subject to vesting restrictions. About KGL Resources [...]
Kilo Goldmines announced today that the Company has changed its name to "KGL Resources Ltd." and consolidated its issued and outstanding common shares on the basis of one new consolidated common share for every twenty existing common shares. The Name Change and Consolidation were both approved by shareholders at the Company's Annual General Meeting held on March 16, 2020. The Company's shares will commence trading on a [...]
Kilo Goldmines announced that Mr. Donat Madilo, a current director, has been appointed as Interim CEO, CFO and Secretary of the Company, replacing Mr. Philip Gibbs in those offices following Mr. Gibbs’ resignation. The Company also announced the appointment of Ms. Nili Stolarsky to the board of directors of the Company filling the vacancy created by the resignation of Mr. James Mustard. The appointments are subject to [...]
Kilo Goldmines Ltd. announced that, subject to regulatory approval, Mr. Donat Madilo and Mr. Michael Cooper were elected to the board of directors of the Company at the annual and special meeting of shareholders of the Company held on Monday, March 16, 2019. They join Mr. James Mustard on the board who was also re-elected at the Meeting. Mr. David Netherway and Mr. Loudon Owen, long standing directors of the Company, did [...]
Kilo Goldmines Ltd. announced today that, further to the Company’s press release dated September 12, 2019, the consensual realization transaction with former subsidiary, Kilo Goldmines Inc. , Resolute Pty Ltd and Loncor Resources Inc. has been completed. Pursuant to the transaction, all rights of Resolute under a delinquent credit facility provided to Kilo and Kilo Inc. and related security were assigned from [...]
Kilo Goldmines Ltd. announced today that it and direct subsidiary, Kilo Goldmines Inc. have entered into an agreement with Resolute Pty Ltd and Loncor Resources Inc. that will result in the extinguishment of all amounts owing by the Borrowers under a credit facility provided by major shareholder Resolute, which has been in default since March 14, 2019. The credit facility is secured against all assets and undertaking of [...]
The board of directors of Kilo Goldmines Ltd. wishes to provide shareholders and other market participants with an update on its business plans, operations, and financial condition. Secured Credit Facility As previously announced, Kilo has a secured credit facility with its major shareholder, Resolute Pty Ltd , from which A$750,000 has been drawn down. Under the terms of the credit facility, the principal plus accrued [...]
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