Kobo Resources closes private placement for $287,492 with drilling partner

Kobo Resources Inc. (TSX.V: KRI) completed a non-brokered private placement raising gross proceeds of $287,491.80, according to a company statement.

Rockstone Drilling Inc., which has provided drilling services to Kobo since 2023, purchased 958,306 common shares at $0.30 per share. The transaction was conducted under an exemption from prospectus requirements in accordance with National Instrument 45-106.

The shares are subject to a statutory hold period until June 4, 2026. Kobo plans to use the net proceeds for general corporate and working capital purposes.

"We appreciate the continued support from Rockstone Drilling, who has been an important operational partner at Kossou since 2023," said Edward Gosselin, CEO and Director of Kobo Resources. "Their participation in this financing reflects alignment with our ongoing exploration programs and provides additional flexibility as we advance drilling activities in 2026."

Kobo Resources operates the Kossou Gold Project in Côte d'Ivoire, located approximately 20 kilometers northwest of Yamoussoukro. The company has completed over 29,000 meters of diamond drilling, nearly 5,887 meters of reverse circulation drilling, and 7,100+ meters of trenching since 2023.

The exploration work has focused on multiple targets within a 9+ kilometer strike length, with drilling confirming mineralization at the Jagger, Road Cut, and Kadie Zones. The company also holds the Kotobi Permit and is expanding its land position in the country.

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