Kobo Resources plans private placement to raise up to $3 million

Kobo Resources Inc. (TSX.V: KRI) announced plans to complete a non-brokered private placement of up to 10 million units at $0.30 per unit, seeking to raise up to $3 million in gross proceeds.

Each unit consists of one common share and one-half common share purchase warrant. The warrants allow holders to acquire one common share at $0.55 for 24 months from the closing date. The securities will be subject to a four-month statutory hold period under Canadian securities laws.

The company intends to use proceeds to expand exploration efforts at its Kossou Gold Project in Côte d'Ivoire during the second half of 2025. Specific plans include extending known mineralization zones at three main targets: the Road Cut Zone, Jagger Zone and Kadie Zone. Funds will also support preliminary metallurgical work, soil geochemical and trenching surveys, and geological exploration at the Kotobi research permit.

Chief Executive Officer Edward Gosselin stated the additional capital will enable enhanced exploration initiatives following the completion of diamond drilling programs in 2024 and 2025.

The first closing is expected around August 28, 2025, with final closing no later than September 5, 2025. The offering remains subject to closing conditions including TSX Venture Exchange approval.

Kobo Resources operates the Kossou Gold Project, located approximately 20 kilometers northwest of Yamoussoukro, Côte d'Ivoire's capital. The company has completed over 18,500 meters of diamond drilling, nearly 5,900 meters of reverse circulation drilling, and 5,900 meters of trenching since 2023.

The information is based on a company press release.

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