Calgary, Alberta (FSCwire) - Kairos Capital Corporation (“Kairos or the “Corporation”) announces financial results for its third quarter ended September 30, 2014. The unaudited condensed consolidated interim financial statements and management's discussion & analysis ("MD&A") have been filed on SEDAR and can be viewed at www.sedar.com.
HIGHLIGHT
The following represents the highlight of Kairos’ operations for the quarter ended September 30, 2014.
The Corporation acquired the remaining interests not already owned by the Corporation in the Fortuna and Salvadora claims from Polar Star Mining Corporation (“Polar Star”). This was a non-arm’s length transaction as the Corporation and Polar Star have common directors and principal shareholders.
The previous option agreement between Kairos and Polar Star was cancelled pursuant to a Purchase and Option Cancellation Agreement. As consideration for this transaction, the Corporation issued 3,750,000 common shares at an attributable value of $0.10 per common share for total consideration of $375,000.
FINANCIAL OVERVIEW
Certain selected financial information for the quarter ended September 30, 2014 is set out below and should be read in conjunction with the Corporation's unaudited consolidated financial statements and related MD&A. The following table provides a summary of key financial results for the three months ended September 30, 2014 and 2013:
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Three months ended and as at September 30
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2014
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2013
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$
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$
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Net comprehensive income (loss)
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(14,081)
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23,047
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Basic and diluted income (loss) per share
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(0.001)
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0.002
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Total assets
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1,187,708
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745,764
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Share capital
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1,544,686
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1,114,686
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Number of common shares outstanding
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18,750,000
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15,000,000
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About Kairos
Kairos’ is a Canadian corporation whose common shares are posted for trading on the TSX Venture Exchange Inc. (the "Exchange") under the ticker symbol “KRS”. Kairos conducts mineral exploration activities exclusively in Chile, through its wholly-owned subsidiary Minera Kairos Chile Limitada. During this challenging period in the mining sector, the Corporation’s activities are focused on the evaluation and acquisition of properties so as to secure a portfolio of properties that hold promise for copper/gold or gold/copper accumulations.
Reader Advisory: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information: This press release contains forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this press release are made as of the date hereof and Kairos undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
For further information contact
Al Kroontje
Kairos Capital Corporation
#200, 407 – 3rd Street SW
Calgary, Alberta T2P 4Z2
(403) 607-4009
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kairos11282014.pdfSource: Kairos Capital Corporation (TSX Venture:KRS)
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