Vancouver, British Columbia--(Newsfile Corp. - May 13, 2016) - Almo Capital Corp. (TSXV: APT) (the "Company") is pleased to
announce that it has closed the second and final tranche of the non‑brokered private placement that was announced on
February 3, 2016 and March 3, 2016. The Company has issued 200,000 units (the "Units") at a price of $0.075 per Unit for
gross proceeds of $15,000. Each Unit is comprised of one common share and one share purchase warrant. Each warrant entitles the
holder to acquire one additional share in the capital of the Company at a price of $0.15 until May 13, 2018.
The common shares comprising the Units and any shares issued upon the exercise of any Warrants are subject to a hold period
expiring at midnight on September 13, 2016.
In connection with the non-brokered private placement of up to 2,000,000 units announced on April 14, 2016, the Company is
pleased to announce that it is increasing the offering to up to 3,333,333 units for gross proceeds of up to $250,000. Assuming the
Private Placement is fully subscribed, the Company plans to allocate the gross proceeds of the Private Placement to:
(i) mineral property acquisition and exploration work ($100,000) and (ii) general working capital ($150,000). The Company
may pay finder's fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSX
Venture Exchange. If the Private Placement is not fully subscribed, the Company will apply the proceeds to the above uses in
priority and in such proportions as the Board of Directors and management of the Company determine is in the best interests of the
Company. Although the Company intends to use the proceeds of the Private Placement as described above, the actual allocation of
proceeds may vary from the uses set out above depending on future operations, events or opportunities. Other than has been
disclosed all other terms and conditions of the private placement remain the same.
The private placement is subject to approval of the TSX Venture Exchange.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or
under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or
to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an
applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation
to buy such securities in the United States.
For further information, please contact:
David Robinson, Chief Executive Officer
Almo Capital Corp.
Phone: 403.399.9047
Email: almocapitalcorp@yahoo.ca
The TSX Venture Exchange
has not reviewed and does not
accept responsibility
for the accuracy or
adequacy of this release.
Neither the TSX
Venture Exchange nor its
Regulation Service
Provider (as that term is
defined in the policies of the
TSX Venture Exchange)
accepts responsibility
for the adequacy or
accuracy of this
release.
This press release
contains
forward‑looking
statements. All
statements, other than
statements of
historical fact,
constitute "forward‑looking
statements" and include
any information that
addresses activities,
events or developments
that the Company believes,
expects or anticipates will
or may occur in the
future including
the Company's
strategy, plans or
future financial or
operating performance and
other statements that
express management's
expectations or
estimates of future
performance.
Forwardlooking
statements are generally
identifiable by the
use of the words
"may", "will",
"should", "continue",
"expect", "anticipate",
"estimate", "believe", "intend",
"plan" or "project" or
the negative of these
words or other
variations on these
words or comparable
terminology. These
statements, however,
are subject to known and
unknown risks,
uncertainties and other
factors that may
cause the actual
results, level of activity,
performance or
achievements of the
Company to be materially
different from those
expressed, implied by or
projected in the
forwardlooking
information or
statements. Important
factors that could
cause actual results to differ
from these
forwardlooking
statements include but are
not limited to the ability of the Company to attract financing and the general market
conditions of the industry in which the Company operates and the other
factors discussed in
the sections relating
to risk factors discussed in the Company's continuous
disclosure filings on SEDAR.
There can be no
assurance that any
forward‑looking
statements will prove to
be accurate, as actual
results and future
events could differ
materially from those
anticipated in such
statements.
Accordingly, the reader
should not place any undue
reliance on
forward‑looking
information or
statements. Except as
required by law, the
Company does not intend to
revise or update these
forward‑looking
statements after the date
of this document or to
revise them to reflect
the occurrence of
future unanticipated
events.
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OR FOR DISSEMINATION IN THE UNITED STATES
