Kalo Gold Announces Adoption Of Long‐Term Incentive Plan, Grants Restrictive Share Units, And Stock Options

VANCOUVER, BRITISH COLUMBIA, CANADA: 14, OCTOBER 2022, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”) is pleased to announce that it has adopted a new share‐based Long‐Term Incentive Plan (LTIP) for selected employees and directors for 2022 designed to align interests of the employees and shareholders and to retain and reward employees for dedicated and focused achievements of the Company’s strategy and long‐term objectives aligned with shareholders’ interests.

The new LTIP for 2022, has been approved by the Board of Directors and is subject to final approval by the TSX Venture Exchange and approval of shareholders of the Company at the next meeting of shareholders.

Granting of Restricted Share Units (RSUs)

Pursuant to the Company’s Long Term Incentive Plan, the Company announces it has issued an aggregate of 3,000,000 Restricted Share Units (RSUs) to Mr. Terry R. Tucker, Chief Executive Officer of the Company. The RSUs will vest as follows: 2,000,000 in 12 months, 500,000 in 18 months, and 500,000 in 24 months. Each RSU represent the right to receive, once vested, one common share in the share capital of the Company.

Stock Options

The Company has granted 1,400,000 stock options to certain officers, directors, and consultants to purchase 1,400,000 shares (the “Shares”) in the capital of the Company pursuant to the Company’s share option plan. The Options are exercisable at an exercise price of $0.05 per Share for a period of five (5) years from the date of grant. The Options will be vesting immediately.

On behalf of the Board of Directors of Kalo Gold Corp.

Terry L. Tucker, P.Geo President and Chief Executive Officer
and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director

For more information contact, please write to info@kalogoldcorp.com

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 Statements Disclaimer

Certain statements in this release are forward‐looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the timing for receipt of results from the Company’s current exploration program, and the Company’s plans for future exploration on the Project. Forward‐looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news release, other than statements of historical fact, are forward‐looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s filing statement dated 9 February 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.

The reader is cautioned that assumptions used in the preparation of any forward‐looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward‐looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward‐looking statements contained in this news release are expressly qualified by this cautionary statement. The forward‐looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward‐looking statements as expressly required by Canadian securities law.