Khalkos Exploration Inc.: Closing of Private Placements for $500,000

MONTREAL, QUEBEC--(Marketwired - Dec 23, 2014) - Khalkos Exploration ("Khalkos") (TSX VENTURE:KAS) completed today the closing of non-brokered private placements for an amount of $500,000. A sum of $200,000 was collected by issuance of units while an additional amount of $300,000 came from issuance of flow-through shares.

A total of 1,666,662 units were issued and of 1,999,98 flow-through shares at $0.15 were subscribed. Each unit, sold at $0.12, is composed of a Common Share and half a warrant of Khalkos. Each warrant entitles its holder to subscribe for one Common Share at $0.15 for a period of 18 months after the closing date. Directors of the Company participated in the placement for an amount of $73,030.

Finder's fees of $22,510 were paid for the financing. In addition, Khalkos issued finder's warrants entitling holders to purchase 79,800 Common Shares at $0.15 for a period of 12 months after the closing date.

There will be a hold period of four months and one day on all securities issued under these financings. The TSX Venture has conditionally approved the private placements.

The proceeds of these placements will primarily be used by Khalkos for exploration fieldwork on its Villebon gold project, located within 75 km southeast of the city of Val d'Or, as well as for general purposes. Please refer to the website of Khalkos for more information.

Neither the 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.