Kobo Resources arranges $5.52-million financing

Executive Summary

• Kobo Resources Inc. announced a non-brokered private placement of up to 16,504,128 common shares at $0.335 per share, raising gross proceeds of up to $5,528,882.89.
• The net proceeds will be used to advance drilling and exploration at the Kossou gold project (targeting a maiden resource estimate by mid-2026), initiate drilling at the Kotobi permit (planned for Q2 2026), and for general corporate and working capital purposes.
• Closing is expected on or about March 31, 2026, subject to regulatory approvals including the TSX Venture Exchange.

Key Details

• Transaction Structure: Non-brokered private placement.
• Shares Issued: Up to 16,504,128 common shares.
• Price: $0.335 per common share.
• Gross Proceeds: Up to $5,528,882.89.
• Use of Proceeds:
  • Advance continuing drilling and exploration at the Kossou gold project.
  • Initiate drilling at the Kotobi permit.
  • General corporate and working capital purposes.
• Regulatory Status: Issued pursuant to exemptions from prospectus requirements under Regulation 45-106 (Prospectus Exemptions).
• Hold Period: Common shares are subject to a four-month statutory hold period under Canadian securities laws.
• Closing Date: Expected on or about March 31, 2026.
• Conditions Precedent: Receipt of all necessary approvals, including approval of the TSX Venture Exchange.
• Kossou Project Status:
  • Targeting maiden mineral resource estimate by mid-2026.
  • Approximately 41,000 metres of drilling completed across 215 holes at the Jagger and Road Cut zones to date.
  • Metallurgical samples collected for analysis.
  • Ongoing exploration at Kadie zone, Jagger South zone, western Kossou permit area, and Contact zone fault.
• Kotobi Permit Status:
  • Previous exploration defined four large gold-in-soil anomalies.
  • Trenching and target refinement completed; drill-ready targets established.
  • Initial drill program planned for the second quarter of 2026.
• Other Portfolio Activities:
  • Advancing exploration under Nesdave earn-in agreements.
  • Continuing evaluation of the Yakasse project (permitting in progress).
  • Assessing additional prospective opportunities and strategic partnerships in Ivory Coast.

Notable Quotes

• "Closing of this financing will allow us to continue advancing the Kossou gold project through ongoing drilling as we work toward a maiden resource estimate. At the same time, we are preparing to begin drilling at Kotobi, where we have already identified several priority gold targets supporting additional growth prospects. Beyond these projects, the company also remains focused on building a pipeline of growth opportunities in Cote d'Ivoire through disciplined exploration and evaluation of additional ground. Our objective is to continue expanding the scale of our mineralized systems with a clear path toward resource definition, all while evaluating accretive gold opportunities in-country." — Edward Gosselin, Chief Executive Officer and Director