Kobo Resources closes $2.51M first tranche of financing

Executive Summary

• Kobo Resources closed the first tranche of its non‑brokered private placement, raising $2,516,479.80 from the issuance of 8,388,266 units at $0.30 per unit.
• Proceeds will fund H1 2025 exploration initiatives on the Kossou gold project (Road Cut, Jagger, Kadie zones), preliminary metallurgical work, soil‑geochemical and trenching surveys, and expansion of the Kotobi research permit program.
• Each unit includes one common share and a half‑share purchase warrant; warrants are exercisable at $0.55 per share until 10 Sept 2027.

Key Details

• Units Issued: 8,388,266 units @ $0.30 each → gross proceeds $2,516,479.80.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (exercise price $0.55, expiry 10 Sept 2027).
• Warrant Allocation to Investors: Each unit’s half‑warrant; additional broker warrants (483,920) issued to finders at $0.30 exercise price, exercisable until 10 Sept 2027.
• Finder Compensation: Cash commissions of $145,176 plus the broker warrants above.
• Financial Advisers: 3L Capital and Integrity Capital Group.
• Use of Net Proceeds:
• Continue H1 2025 exploration on Kossou (Road Cut, Jagger, Kadie zones).
• Initiate preliminary metallurgical testing.
• Expand soil‑geochemical and trenching surveys at Kossou.
• Enhance geological program on Kotobi research permit.
• General corporate and working‑capital purposes.
• Regulatory Notes: Units issued under accredited investor exemption (NI 45‑106). Securities subject to statutory hold period until 11 Jan 2026.
• Strategic Partner Participation: Luso Global Mining maintained its 9.9% stake by participating in the financing.

Notable Quotes

“We are very pleased with the closing of the first tranche of our upsized financing… These funds allow us to push forward at a steady pace the ongoing drilling program…” – Edward Gosselin, CEO & Director, Kobo Resources Inc.