Kobo Resources plans $5.5 million private placement for gold projects
Kobo Resources Inc. (TSX.V: KRI) announced plans to raise up to $5.5 million through the issuance of up to 16.5 million common shares at $0.335 per share.
The company will use proceeds to advance drilling and exploration at its Kossou Gold Project in Côte d’Ivoire, initiate drilling at the Kotobi Permit, and for general corporate purposes. The common shares will be subject to a four-month statutory hold period under Canadian securities laws.
"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," said Edward Gosselin, CEO and Director of Kobo.
The company has completed approximately 41,000 meters of drilling across 215 holes at the Jagger and Road Cut Zones at Kossou, with plans to establish a mineral resource estimate by mid-2026. Kobo continues exploration across additional targets including the Kadie Zone, Jagger South Zone, and Contact Zone Fault.
At the Kotobi Permit, previous exploration identified four gold-in-soil anomalies across a structurally prospective corridor. The company plans to begin its first phase of diamond drilling there in the second quarter of 2026.
The financing is expected to close on or about March 31, 2026, subject to closing conditions including TSX Venture Exchange approval. The shares will not be registered under U.S. securities laws and cannot be offered to U.S. persons without proper registration or exemption.
Kobo Resources is a gold exploration company focused on projects in Côte d’Ivoire’s gold district. The company’s Kossou project is located approximately 20 kilometers northwest of Yamoussoukro.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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