Kobo Resources closes $1.44-million final tranche

Executive Summary

• Kobo Resources closed the second and final tranche of its upsized non‑brokered private placement, issuing 4,816,250 units at $0.30 each for gross proceeds of $1,444,875.
• Combined with the first tranche, total gross proceeds from the offering amount to $3,961,354.80.
• Net proceeds will fund expanded exploration on the Kossou gold project (Road Cut, Jagger, Kadie zones), preliminary metallurgical work, additional soil‑geochemical and trenching surveys, and development of the Kotobi research permit, plus general corporate purposes.

Key Details

• Units Issued – Tranche 2: 4,816,250 units @ $0.30 per unit = $1,444,875 gross proceeds.
• Total Offering Gross Proceeds: $3,961,354.80 (first tranche + second tranche).
• Unit Composition: Each unit = 1 common share + ½ common share purchase warrant.
• Warrant Terms: Purchase warrants allow acquisition of one common share at $0.55 per share, exercisable until September 10, 2027.
• Use of Proceeds:
• Advance exploration on Kossou’s Road Cut, Jagger, and Kadie zones.
• Initiate preliminary metallurgical testing.
• Extend soil‑geochemical and trenching surveys at Kossou.
• Enhance geological program on the Kotobi research permit.
• General corporate and working capital needs.
• Advisers: 3L Capital and Integrity Capital Group acted as financial advisers.
• Finder Compensation: Cash commissions of $15,120 plus issuance of 50,400 broker warrants.
• Adviser Fees: $45,000 in cash plus issuance of 150,000 adviser warrants (exercisable until September 10, 2027 at $0.30 per share).
• Statutory Hold Period: Units from the first tranche are subject to a hold period until January 13, 2026 under Canadian securities law.

Notable Quotes

“Again, we are extremely pleased with the overall interest of investors which have subscribed to our upsized non‑brokered financing and the confidence placed in Kobo's exploration and project development strategy,” – Edward Gosselin, CEO & Director, Kobo Resources Inc.

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