Business
Kobo Resources Announces Non-Brokered Private Placement of up to $5.5 Million to Advance Kossou and Regional Growth
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 $5.5 Million to Advance Kossou and Regional Growth\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 16,504,128 common shares of the Company (“\n \n Common Shares\n \n ”) at a price of $0.335 per Common Share for gross proceeds of up to $5,528,882.89\n \n\n (the “\n \n Offering\n \n ”). The Common Shares will be issued pursuant to exemptions from the prospectus requirements in accordance with\n \n Regulation 45-106 respecting Prospectus Exemptions\n \n . The Common Shares will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.\n \n\n Edward Gosselin, CEO and Director of Kobo commented:\n \n “Closing of this financing will allow us to continue advancing the Kossou Gold Project through ongoing drilling as we work toward a maiden resource estimate. At the same time, we are preparing to begin drilling at Kotobi, where we have already identified several priority gold targets supporting additional growth prospects. Beyond these projects, the Company also remains focused on building a pipeline of growth opportunities in Côte d’Ivoire through disciplined exploration and evaluation of additional ground. Our objective is to continue expanding the scale of our mineralised systems with a clear path toward resource definition, all while evaluating accretive gold opportunities in-country.”\n \n\n\n The Company intends to use the net proceeds of the Offering to advance ongoing drilling and exploration at the Kossou Gold Project (“\n \n Kossou\n \n ”), initiate drilling at the Kotobi Permit and for general corporate and working capital purposes.\n \n\n The Company plans to continue drilling at Kossou as it advances toward establishing an inaugural Mineral Resource Estimate for the project, currently targeted for mid-2026. With approximately 41,000 metre...