Kobo Resources closes $287,491 private placement

Executive Summary

• Kobo Resources Inc. has closed a non-brokered private placement of common shares, raising gross proceeds of $287,491.80.
• The subscriber is Rockstone Drilling Inc., a key drilling services provider and operational partner for the company's Kossou project since 2023.
• The transaction involves the issuance of 958,306 common shares at a price of $0.30 per share, with net proceeds designated for general corporate and working capital purposes.

Key Details

• Transaction Structure: Non-brokered private placement of common shares.
• Gross Proceeds: $287,491.80.
• Subscriber: Rockstone Drilling Inc. (Drilling services provider supporting exploration activities since 2023).
• Shares Issued: 958,306 common shares.
• Price Per Share: $0.30.
• Regulatory Exemption: Issued pursuant to an exemption from prospectus requirements in accordance with National Instrument 45-106 -- Prospectus Exemptions.
• Hold Period: The common shares are subject to a statutory hold period until June 4, 2026.
• Use of Proceeds: Net proceeds are intended for general corporate and working capital purposes.
• Strategic Context: CEO Edward Gosselin noted that the subscription reflects alignment with ongoing exploration programs and provides flexibility for advancing drilling activities in 2026.

Notable Quotes

• "We appreciate the continued support from Rockstone Drilling, who has been an important operational partner at Kossou since 2023. Their participation in this financing reflects alignment with our ongoing exploration programs and provides additional flexibility as we advance drilling activities in 2026." — Edward Gosselin, Chief Executive Officer and Director