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Kobo Resources Announces Execution of Relationship Agreement with Luso Global Mining and Filing of Fiscal Year 2024 Financial Results
QUEBEC CITY, Quebec / Jul 30, 2024 / Business Wire / Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) announces the execution of a Relationship Agreem
About this update from Kobo Resources Inc.
[{"type":"text","content":"QUEBEC CITY, Quebec / Jul 30, 2024 / Business Wire / Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) announces the execution of a Relationship Agreement with LUSO Global Mining and the filing of its audited consolidated financial statements for the fifteen-month period ended March 31, 2024 and related management’s discussion and analysis. Copies of these financial statements and related management's discussion and analysis can be found on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca as well as on the Company’s website at www.koboresources.com. Edward Gosselin, CEO and Director of Kobo commented: “We look forward to advancing our strategic partnership with Luso Global Mining, a wholly owned subsidiary of Mota-Engil, which brings significant benefits to both parties by enhancing our access to operational capabilities with their proven engineering and construction expertise, particularly for our Kossou Gold Project and regional opportunities as we begin our next phase of growth. We are also excited to welcome Mr. Vivek Dharni’s nomination to our Board of Directors. His extensive experience in finance and infrastructure development will be a valuable asset as we continue to advance our projects.” Alexander Shaw, CEO of LGM commented: “On behalf of Luso Global Mining, our team is excited to begin and grow our partnership with Kobo Resources moving forward. Leveraging our extensive experience across Africa, we are committed to supporting Kobo's growth and success. We look forward to a successful collaboration and are confident that Mr. Vivek Dharni will make significant contributions to Kobo’s Board.” Relationship Agreement with Luso Global Mining As previously announced, Luso Global Mining B.V. (“Luso”), a wholly owned subsidiary of Mota-Engil SGPS, S.A. (“Mota-Engil”), participated in the recent non-brokered private placement of units of the Company as a lead investor. Further to the completion of the private placement, Luso beneficially owns 10,225,708 shares and 5,112,854 warrants, representing 9.99% of the Company’s issued and outstanding shares on a non-diluted basis, and 14.27% of the issued and outstanding shares on a partially-diluted basis, assuming the exercise of the Warrants held by Luso only. In connection with Luso’s investment, the Company and Luso entered into a relationship agreement dated as...