Kobrea Closes Previously Announced $8.5 Million Private Placement

Executive Summary

• Kobrea Exploration Corp. closed a private placement of 17,000,000 units at $0.50 per unit, raising $8.5 million in gross proceeds.
• The offering consisted of a brokered tranche (7,753,000 units) and a non‑brokered tranche (9,247,000 units), each with associated cash commissions and finder fees paid to agents.
• Net proceeds are earmarked for drilling and exploration in Mendoza Province, Argentina, as well as working capital and general corporate purposes.

Key Details

• Units issued: 17,000,000 (each unit = 1 common share + ½ warrant).
• Issue price: $0.50 per unit; aggregate gross proceeds: $8.5 million.
• Warrant terms: Each warrant allows purchase of one common share at $0.75 for 24 months from issuance; exercise prohibited for the first 60 days.
• Brokered tranche: 7,753,000 units → $3,876,500 gross proceeds. Lead agent: Kernaghan & Partners Ltd.; agents included Beacon Securities Limited and Red Cloud Securities Inc.
• Broker compensation: Cash commission of $180,090 plus 360,180 non‑transferable broker warrants (exercise price $0.75).
• Non‑brokered tranche: 9,247,000 units → $4,623,500 gross proceeds.
• Finder compensation: Cash fees of $180,960 and 364,920 non‑transferable finder’s warrants (exercise price $0.75).
• Use of proceeds: Primarily for drilling and exploration at Kobrea’s projects in Mendoza Province, Argentina; remainder for working capital and general corporate purposes.
• Regulatory exemption: Units issued under NI 45‑106 Part 5A and the Listed Issuer Financing Exemption; not subject to resale restrictions in Canada.
• U.S. securities disclaimer: Securities not registered under U.S. law; cannot be offered or sold in the United States absent registration or an applicable exemption.

Notable Quotes

• “The successful closing of this financing provides us with the capital needed to advance our high‑potential exploration programs in Argentina and supports our continued growth strategy,” – James Hedalen, CEO & Director.