Business
Kobrea Exploration Announces an Increase to its Previously Announced $5 Million "Best Efforts" Private Placement to $8.5 Million with the Addition of a $3.5 Million Non-Brokered Offering of Units
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") i
About this update from Kobrea Exploration Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) (\"Kobrea\" or the \"Company\") is pleased to announce that, in connection with its previously announced $5,000,000 best efforts private placement (the \"Brokered Offering\"), the Company intends to carry out a concurrent non-brokered private placement for aggregate gross proceeds of up to $3,500,000 (the \"Non-Brokered Offering\" and, together with the Brokered Offering, the \"Offering\"). The Offering will consist of the issuance and sale of: (i) up to 10,000,000 units of the Company (\"Units\"), at a price of $0.50 per Unit sold pursuant to an agency agreement to be entered into between the Company and Kernaghan & Partners Ltd. (the \"Lead Agent\"), as lead agent and sole bookrunner, on behalf of itself and a syndicate of agents including Beacon Securities Limited and Red Cloud Securities Inc. (collectively, the \"Agents\"), for gross proceeds of up to $5,000,000, and (ii) up to 7,000,000 Units at a price of $0.50 per Unit offered on a non-brokered private placement basis for gross proceeds of up to $3,500,000. The Units will be issued pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). Each Unit will consist of one (1) common share in the capital of the Company and one-half of one (1/2) common share purchase warrant (each whole warrant, a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to acquire one (1) common share at a price per share of $0.75 for a period of 24 months from the date of issuance, provided the Warrants may not be exercised for a period of 60 days from the date of issuance. The Company intends to use the net proceeds of the Offering towards drilling and exploration at the Company's projects in Mendoza Province, Argentina, and for working capital and general corporate purposes. Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units will be offered for sale (i) to purchasers resident in all provinces of Canada, other than Quebec, pursuant to the Listed Issuer Financing Exemption,...