KIARO HOLDINGS CORP. SUCCESSFULLY RENEGOTIATES MATURED DEBENTURE

& Kiaro Provides Additional Clarification on Board Composition 

VANCOUVER, BC, June 27, 2022 /CNW/ - Kiaro Holdings Corp. (TSXV:KO.VN) ("Kiaro" or the "Company") announces that it has entered into an amended agreement dated effective June 24, 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 matured 8.0% unsecured subordinate convertible debenture (the "Debenture") in the principal amount of $700,000 previously issued to the Holder. Under the Amending Agreement, the Company has agreed to issue  800 convertible unsecured debenture units of the Company (the "Units") at a price of $1,000 per Unit.