Kallo sells $1.15 million of common shares through private placement

Company sells 23,016,963 of its shares at $0.05 per share on Feb. 29

By Devika Patel

Knoxville, Tenn., March 5 - Kallo Inc. completed a $1.15 million private placement of stock on Feb. 29, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company sold 23,016,963 common shares at $0.05 per share. The price per share reflects a 77.27% discount to the Feb. 28 closing share price of $0.22.

Kallo is a software developer in Markham, Ont.

Issuer:	Kallo Inc.
Issue:	Common stock
Amount:	$1,150,848
Shares:	23,016,963
Price:	$0.05
Warrants:	No
Settlement date:	Feb. 29
Stock symbol:	OTCBB: KALO
Stock price:	$0.22 at close Feb. 28
Market capitalization:	$22.71 million

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