Kiboko increases private placement to $1.2-million

Executive Summary

• Kiboko Gold Inc. has exercised an upsizing option on its previously announced non-brokered private placement, increasing the total offering size by up to 20%.
• The company can now issue up to 15 million postconsolidation units at $0.08 per unit, raising gross proceeds of up to $1.2 million.
• The expected closing date for the private placement has been extended to on or about January 25, 2026.

Key Details

• Upsizing Details: The private placement size is increased by up to 20%, allowing for the issuance of up to an additional 2.5 million postconsolidation units.
• Total Offering Size: Up to 15 million postconsolidation units total.
• Price: $0.08 per unit.
• Gross Proceeds: Up to $1.2 million.
• Unit Composition: Each unit consists of one postconsolidation common share and one postconsolidation transferable common share purchase warrant.
• Warrant Terms: Each warrant allows the purchase of one additional postconsolidation common share at an exercise price of $0.12.
• Warrant Expiry: Two years following the completion of the private placement.
• Closing Date: Extended to on or about January 25, 2026.
• Use of Proceeds: General corporate and working capital purposes.
• Share Consolidation: The private placement is on a postconsolidation basis, with a consolidation ratio of 10 preconsolidation shares for 1 postconsolidation share (subject to TSX Venture Exchange approval).
• Hold Period: Common shares and warrants are subject to a hold period of four months and one day.
• Regulatory Approval: Closing is subject to customary conditions and receipt of all necessary approvals, including TSX Venture Exchange approval.

Notable Quotes

• None provided in the text.