Business
Kobo Resources Announces Total Gross Proceeds of $7.4 million following Closing of Second Tranche of Non-Brokered Private Placement
QUEBEC CITY / Jul 02, 2024 / Business Wire / Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) is pleased to announce that it has closed its second tra
About this update from Kobo Resources Inc.
[{"type":"text","content":"QUEBEC CITY / Jul 02, 2024 / Business Wire / Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) is pleased to announce that it has closed its second tranche (the “Second Tranche”) of previously announced non-brokered private placement of units (the “Units”) for gross proceeds of $2,995,497 (the “Offering”). Under the second tranche of the Offering, 8,558,563 Units were issued at a price of $0.35 per Unit. Closing of a first tranche of the Offering (the “First Tranche”) and concurrent brokered private placement (the “Concurrent Financing”) occurred on June 4, 2024, at which time the Company issued an aggregate of 12,622,504 units. Together with the First Tranche, the Company raised gross proceeds of $7.413 million following the closing of the Second Tranche. Edward Gosselin, CEO and Director of Kobo commented: “The successful completion of the Company’s private placement represents an important milestone for Kobo, demonstrating the market's confidence in our team and in our 100%-owned Kossou Gold Project. Having the overwhelming support of existing and new shareholders, we can build on this foundation for aggressive growth at Kossou as we continue to develop our key assets and create value for all stakeholders.” He continued: \"Importantly, partnering with Luso Global Mining and its parent company, Mota-Engil, offers us exceptional synergies and leverages their extensive experience in West Africa, particularly in Côte d’Ivoire. We are excited to build on our strategic partnership with Luso Global Mining as we expand our presence in Côte d’Ivoire through the Kossou Gold Project and explore future opportunities.” Alexander Shaw, CEO of LGM commented: “We are thrilled to collaborate with the team at Kobo as they build on the success of the Kossou Gold Project, positioning ourselves as Kobo's strategic partner in these endeavors. Additionally, our goal is to support Kobo's team in any other significant opportunities in the region. Our parent company has a proven track record of success in West Africa, and we look forward to extending our support to help advance Kobo's strategic vision in the region.” Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles its holder t...