Kiboko Gold increases private placement to $1.2 million with upsizing option

Kiboko Gold Inc. (TSXV: KIB) announced it will exercise an upsizing option to increase its non-brokered private placement by up to 20%, potentially raising the total offering to 15 million units at $0.08 per unit for gross proceeds of up to $1.2 million.

The additional 2.5 million post-consolidation units would bring the total offering from the previously announced 12.5 million units. Each unit consists of one post-consolidation common share and one transferable warrant exercisable at $0.12 for two years following completion.

The company extended the expected closing date to on or about January 25, 2026. Kiboko plans to use net proceeds for general corporate and working capital purposes.

The offering remains subject to customary conditions and TSX Venture Exchange approval. Securities issued will be subject to a four-month and one-day hold period under Canadian securities laws.

The shares will be issued on a post-consolidation basis following a planned 10-to-1 share consolidation, which requires TSX Venture Exchange approval. The company will announce record and effective dates for the consolidation in a subsequent release.

Kiboko is a Canadian exploration company focused on its Harricana Gold Project located 55 kilometers north of Val-d'Or, Quebec, in the Abitibi gold belt.

You May Also Be Interested In

• DeFi Development Corp. plans $20M preferred stock offering
• Boreal Gold closes first tranche of private placement at $215,100
• TXNM Energy prices $400 million stock offering at $56.50 per share