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Kobo Resources Provides Update on its Non-Brokered Private Placement; Engages Independent Firm to Establish Kossou's Maiden Mineral Resource Estimate
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About this update from Kobo Resources Inc.
[{"type":"text","content":"Kobo Resources Provides Update on its Non-Brokered Private Placement; Engages Independent Firm to Establish Kossou’s Maiden Mineral Resource Estimate\nNOT 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. QUEBEC CITY, April 09, 2026 (GLOBE NEWSWIRE) -- Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) announces that it has extended the closing of its previously announced non-brokered private placement of up to 16,504,128 common shares of the Company (“Common Shares”) at a price of $0.335 per Common Share for gross proceeds of up to $5,528,882.89 (the “Offering”), originally announced on March 23, 2026. The Company has received subscription agreements with respect to the Offering and now expects to close the Offering on the week of April 13, 2026. As disclosed previously, the Company intends to use the net proceeds of the Offering to advance ongoing drilling and exploration at the Kossou Gold Project (“Kossou”), initiate drilling at the Kotobi Permit and for general corporate and working capital purposes. Further to this update on the expected closing date of the Offering, the Company is pleased to provide the following update on both projects. Kossou Gold Project – Maiden MRE in Process, Second Drill Rig Mobilizing The Company has retained an independent firm to prepare a maiden Mineral Resource Estimate (“MRE”) for its 100%-owned Kossou in Côte d'Ivoire, with delivery targeted for Q3 2026. The expected MRE represents a significant milestone in the advancement of Kossou toward a defined gold resource, underpinned by over 41,000 metres of diamond drilling completed since 2023 across the Jagger, Road Cut, and Kadie Zones. To accelerate drilling ahead of the MRE, the Company expects to mobilize a second drill rig to site within the next ten days, increasing the pace of drilling across these active and prospective target areas. Kotobi Permit – Equipment Mobilized, Drilling Contract Expected The Company has also mobilized drill pad preparation equipment to the Kotobi Permit. Work is underway to establish a base camp for Company and drilling contractor personnel, a temporary core...