Kobrea announces $5 million private placement at $0.50 per unit

Kobrea Exploration Corp. (CSE: KBX) announced it has entered into an agreement for a private placement offering of up to 10 million units at $0.50 per unit, targeting gross proceeds of up to $5 million.

The company appointed Kernaghan & Partners Ltd. as lead agent and sole bookrunner, working with a syndicate including Beacon Securities Limited and Red Cloud Securities Inc. to sell the units on a best efforts basis.

Each unit consists of one common share and one-half of a common share purchase warrant. The warrants allow holders to acquire one common share at $0.75 within 24 months of issuance, though they cannot be exercised for 60 days after issuance.

Kobrea plans to use net proceeds for drilling and exploration at its projects in Mendoza Province, Argentina, along with working capital and general corporate purposes. The company holds rights to earn 100% interest in seven projects totaling 733 square kilometers in southwestern Mendoza Province, plus a 100% interest in the Upland Copper Project in British Columbia.

The units will be offered under Part 5A of National Instrument 45-106 and related exemptions. Sales will target Canadian provinces except Quebec, the United States under available exemptions, and other mutually agreed jurisdictions where no prospectus filing is required.

The offering is expected to close around September 30, 2025, subject to regulatory approvals including Canadian Securities Exchange approval. Securities issued under the Listed Issuer Financing Exemption will not be subject to Canadian hold periods.

The information is based on a company press release statement.

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