Kobrea arranges $3.5-million private placement

Executive Summary

• Kobrea Exploration Corp. has increased its previously announced $5 million "best efforts" private placement to a total of $8.5 million by adding a concurrent $3.5 million non-brokered offering.
• The total offering consists of up to 17 million units priced at $0.50 per unit, comprising both brokered and non-brokered tranches.
• Proceeds will be used for drilling and exploration at projects in Mendoza province, Argentina, as well as for working capital and general corporate purposes.

Key Details

• Total Offering Size: Increased to $8.5 million (up from $5 million).
• Unit Price: $0.50 per unit.
• Brokered Tranche: Up to 10 million units for gross proceeds of up to $5 million, led by Kernaghan & Partners Ltd. with a syndicate including Beacon Securities Ltd. and Red Cloud Securities Inc.
• Non-Brokered Tranche: Up to 7 million units for gross proceeds of up to $3.5 million.
• Warrant Terms: Each unit includes one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.75 per share.
• Warrant Expiry: 24 months from the date of issuance.
• Warrant Lock-up: Warrants may not be exercised for 60 days from the date of issuance.
• Use of Proceeds: Drilling and exploration at projects in Mendoza province, Argentina; working capital; and general corporate purposes.
• Regulatory Exemptions: Offered pursuant to Part 5A of National Instrument 45-106 and Coordinated Blanket Order 45-935 (Listed Issuer Financing Exemption).
• Jurisdictions: Available to residents of all Canadian provinces except Quebec, the United States, and other mutually agreed jurisdictions outside Canada and the US.
• Hold Period: Securities issued under the listed issuer financing exemption are not subject to a hold period under applicable Canadian securities laws.
• Closing Date: Expected on or about September 30, 2025, subject to regulatory approvals including the Canadian Securities Exchange.
• Offering Document: Amended offering document dated September 23, 2025, available on SEDAR+ and the company website.