Business
Kobo Resources Announces Non-Brokered Private Placement of up to $3.0 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION ...
About this update from Kobo Resources Inc.
[{"type":"text","content":"Kobo Resources Announces Non-Brokered Private Placement of up to $3.0 Million\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.\n \n\n\n\n\n Kobo Resources Inc. (“\n \n Kobo\n \n ” or the “\n \n Company\n \n ”) (\n \n TSX.V: KRI\n \n ) intends to complete a non-brokered private placement of up to 10,000,000 units (the “\n \n Units\n \n ”) at a price of $0.30 per Unit for gross proceeds of up to $\n \n 3.0 million\n \n (the “\n \n Offering\n \n ”). Each Unit will be comprised of one Common Share and one-half Common Share Purchase Warrant. Each Warrant will entitle its holder to acquire one Common Share at a price of $0.55 for a period of 24 months from the Closing Date. The Units will be issued pursuant to exemptions from the prospectus requirements in accordance with NI 45-106. The securities underlying the Units will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20250819849238/en/\n \n\n\n\n\n\n Edward Gosselin, CEO and Director of Kobo commented:\n \n “After the completion of the diamond drilling program in 2024 and 2025, we look forward to expanding our exploration efforts at our Kossou Gold Project in the second half of 2025. Following the expected closing of this financing, the additional capital will enable us to enhance our current exploration initiatives in 2025 on our three main targets, for the Kossou Gold Project.”\n \n\n\n The Company intends to use the net proceeds of the Offering to pursue its exploration initiatives initiated in H1-2025 and extend the known zones of mineralisation at its three main targets, the Road Cut Zone, Jagger Zone and Kadie Zone on the Kossou Gold Project, initiate preliminary metallurgical work and further develop its ongoing soil geochemical and trenching survey at Kossou as well as to enhance the geological exploration program on the Kotobi research permit and for general corporate and working capital purposes.\n \n\n Closing of t...