Kilo Goldmines Inc (KGI) was incorporated in Ontario, Canada in January 2006 for the purpose of holding three groups of exploration licences, acquired from Moto Goldmines. The owners of each of the three groups of exploration licences consisted of three different groups comprising Congolese and non-Congolese Nationals.
KGI negotiated terms with each group of property owners and three separate DRC entities were established. The share capital of the DRC entity was divided between KGI and the property vendors of each entity in accordance with the negotiated terms. The entities formed based on the properties farmed-out from Moto are; KGL-Masters SPRL, KGL-Somituri SPRL and KGL-Sihu SPRL.
KGI negotiated two additional property acquisitions and DRC entities, KGL-ERW SPRL and KGL-Poko SPRL were established with share capital ownership in acordance with the negotiated terms.
The NI43-101 report on the KGL-Masters SPRL property, written by Mr S. Robinson, was approved by the TSX Venture Exchange on January 19, 2009 thus allowing the acquisition of Kilo Goldmines Inc. by Blue Ribbon Capital. The Blue Ribbon acquisition resulted in the incorporation of Kilo Goldmines Ltd as the parent and publicly listed company. Kilo Goldmines Inc. is a wholly owned subsidiary of Kilo Goldmines Ltd (KGL).
The prefix “Kilo” in our name represents the geographic origins of the company, namely, the “Kilo-Moto” gold belt.