Kobo Resources Announces a Private Fundraising of up to $3.0 Million without the Involvement of Brokers
Kobo Resources Inc., a growth-focused gold exploration company, has announced a non-brokered private placement of up to $3 million to fund exploration initiatives at its 100%-owned Kossou Gold Project in Côte d'Ivoire. The financing, which has been upsized due to strong investor demand, is expected to close by early September 2025.
The Private Placement Details
The private placement will involve the issuance of up to 10,000,000 units at a price of $0.30 per unit. Each unit will consist of one Common Share and one-half Common Share Purchase Warrant. The securities underlying the Units will be subject to a 4-month statutory hold period. It is important to note that the Units, Common Shares, and Warrants have not been registered under the United States Securities Act of 1933.
Use of Proceeds
The funds raised will primarily be used to advance exploration initiatives on the Kossou Gold Project. The capital will enable Kobo to continue and expand exploration activities begun in the first half of 2025, extend known mineralized zones at the three main targets: the Road Cut Zone, Jagger Zone, and Kadie Zone. Additionally, it will allow Kobo to initiate preliminary metallurgical testing, develop ongoing soil geochemical and trenching surveys, enhance geological exploration programs on the adjacent Kotobi research permit, and cover general corporate and working capital needs.
Market Confidence and Strategic Growth
Kobo’s CEO, Edward Gosselin, emphasized the private placement as a milestone reflecting strong market confidence. He also highlighted participation by key shareholder Luso Global Mining, which maintains its 9.9% stake, supporting strategic growth and exploration at Kossou.
Closing Conditions and Timeline
The Offering is subject to certain closing conditions, including approval from the TSX Venture Exchange. The Company intends to close the Offering in multiple tranches, with the first anticipated around August 28, 2025, and final closing no later than September 5, 2025.
For more information about Kobo Resources and its projects, visit www.koboresources.com.
[1] Kobo Resources Press Release, [Link to Press Release] [2] Kobo Resources Investor Presentation, [Link to Investor Presentation] [3] Kobo Resources Website, [Link to Company Website] [4] Kobo Resources Stock Information, [Link to Stock Information] [5] TSX Venture Exchange Listing, [Link to TSX Venture Exchange Listing]
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