Kobo Resources upsizes placement to $4.16-million

Executive Summary

• Kobo Resources Inc. upsized its previously announced non‑brokered private placement to up to 13,899,902 units at $0.30 per unit, targeting gross proceeds of approximately $4.17 million (up from $3.0 M).
• Each unit consists of one common share and a half warrant; full warrants allow purchase of common shares at $0.55 for 24 months after the first tranche close.
• Net proceeds are earmarked for 2025 exploration programs on the Kossou gold project (Road Cut, Jagger, Kadie zones), preliminary metallurgical work, soil‑geochemical and trenching surveys, expansion of the Kotobi permit program, and general corporate working capital.

Key Details

• Upsized Offering Size: Up to 13,899,902 units (previously 10 M units).
• Price per Unit: $0.30, yielding gross proceeds of up to $4,169,970.60.
• Unit Composition: 1 common share + ½ common‑share purchase warrant.
• Warrant Terms: Each whole warrant permits acquisition of one common share at $0.55 per share; exercisable for 24 months from the closing of the first tranche.
• Statutory Hold Period: Securities subject to a four‑month hold period under Canadian securities law.
• Closing Expectation: Anticipated on or about September 5, 2025, subject to customary conditions and TSX Venture Exchange approval.
• Use of Proceeds:
• Advance 2025 exploration plans at Kossou (Road Cut, Jagger, Kadie zones).
• Initiate preliminary metallurgical testing.
• Expand soil‑geochemical and trenching surveys at Kossou.
• Enhance geological program on the Kotobi research permit and other regional targets.
• General corporate purposes and working capital.
• Strategic Shareholder Participation: Luso Global Mining maintains its 9.9 % interest, participating in the financing.

Notable Quotes

“The successful completion of the company's private placement and upsize represents an important milestone for Kobo, demonstrating the market's confidence in our team and in our 100‑percent‑owned Kossou gold project.” – Edward Gosselin, CEO & Director

“We are glad that Luso Global Mining… is a participant in the financing and has elected to maintain its 9.9‑per‑cent interest.” – Edward Gosselin