Kobrea Exploration closes $8.5-million financing

Executive Summary

• Kobrea Exploration Corp. closed a $8.5 million private placement of 17 million units at $0.50 per unit.
• The offering consisted of a brokered tranche (7,753,000 units, $3.8765 M) and a non‑brokered tranche (9,247,000 units, $4.6235 M).
• Net proceeds will be used for drilling and exploration in Mendoza Province, Argentina, as well as working capital and general corporate purposes.

Key Details

• Total gross proceeds: $8.5 million from the sale of 17 million units.
• Unit composition: Each unit = 1 common share + ½ common share purchase warrant.
• Warrant terms: Warrants allow purchase of one common share at $0.75 for 24 months; cannot be exercised for the first 60 days after issuance.
• Brokered tranche: 7,753,000 units; gross proceeds $3,876,500; led by Kernaghan & Partners Ltd. (lead agent and sole bookrunner) with Beacon Securities Ltd. and Red Cloud Securities Inc.; cash commission $180,090 plus 360,180 non‑transferable broker warrants.
• Non‑brokered tranche: 9,247,000 units; gross proceeds $4,623,500; cash finder fees $180,960 plus 364,920 non‑transferable finders’ warrants.
• Use of proceeds: Primarily for drilling and exploration on Kobrea’s projects in Mendoza Province, Argentina; remainder for working capital and general corporate purposes.
• Regulatory basis: Units issued under Part 5A of NI 45‑106 (prospectus exemptions) and Coordinated Blanket Order 45‑935; no resale restrictions under Canadian securities law.

Notable Quotes

(No executive quotes were provided in the release.)