KIARO HOLDINGS CORP. PROVIDES UPDATE ON MATURING DEBENTURE

VANCOUVER, BC, June 7, 2022 /CNW/ - Kiaro Holdings Corp. (TSXV:KO.VN) ("Kiaro" or the "Company") announces that it has entered into an amending agreement dated effective May 31, 2022 (the "Amending Agreement"), with 1198341 B.C. Ltd. (the "Holder"), a company beneficially owned and controlled by Daniel Petrov, the Company's Chief Executive Officer (currently on medical leave), director and significant shareholder of the Company, in relation to the 8.0% unsecured subordinate convertible debenture (the "Debenture") in the principal amount of $700,000 previously issued to the Holder. Pursuant to the Amending Agreement, the maturity date of the Debenture has been extended from May 31, 2022 to June 13, 2022 in order to facilitate continued negotiations between the Company and the Holder with respect to extending the maturity of the Debenture and the contractual terms thereunder.