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Kobo Resources Inc. (" Kobo " or the " Company ") ( TSX.V: KRI ) intends to complete a non-brokered private placement of up to 16,504,128 common shares of the Company (" Common Shares ") at a price of $0.335 per Common Share for gross proceeds of up to $5,528,882.89 (the " Offering "). The Common Shares will be issued pursuant to exemptions from the prospectus requirements in accordance with Regulation 45-106 respecting Prospectus Exemptions . The Common Shares will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.
Edward Gosselin, CEO and Director of Kobo commented: "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 Côte d'Ivoire through disciplined exploration and evaluation of additional ground. Our objective is to continue expanding the scale of our mineralised systems with a clear path toward resource definition, all while evaluating accretive gold opportunities in-country."
The Company intends to use the net proceeds of the Offering to advance ongoing drilling and exploration at the Kossou Gold Project (" Kossou "), initiate drilling at the Kotobi Permit and for general corporate and working capital purposes.
The Company plans to continue drilling at Kossou as it advances toward establishing an inaugural Mineral Resource Estimate for the project, currently targeted for mid-2026. With approximately 41,000 metres of drilling completed across 215 holes at the Jagger and Road Cut Zones to date, along with metallurgical samples collected for analysis, the Company continues to build the technical foundation required to support greater resource definition. Ongoing exploration across additional targets, including the Kadie Zone, Jagger South Zone, the western Kossou Permit area and the Contact Zone Fault, may further contribute to the scale of the mineralised system as drilling progresses.
Proceeds of the Offering are also expected to enable the Company to initiate its first phase of diamond drilling at the Kotobi Permit, where previous exploration has defined four large gold-in-soil anomalies across a structurally prospective corridor. Follow-up work, including trenching and target refinement, has established a pipeline of drill-ready targets, with an initial drill program planned for the second quarter of 2026. In addition, the financing provides flexibility to continue advancing the Company's broader exploration portfolio in Côte d'Ivoire, including work under the Nesdave earn-in agreements and ongoing evaluation of the Yakassé Project, where permitting is in progress. The Company also continues to assess additional prospective opportunities and strategic partnerships within Côte d'Ivoire as part of its disciplined approach to building a scalable in-country gold platform.
Closing of the Offering is expected to occur on or about March 31, 2026 (the " Closing ") and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with an exemption from such registration requirements. This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling gold discovery in Côte d'Ivoire, one of West Africa's most prolific gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
With over 35,000 metres of diamond drilling, nearly 5,887 metres of reverse circulation (RC) drilling, and 7,100+ metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and mineral resource development.
Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.
Kobo's common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com .
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NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This press release may contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements, including statements related to the Offering, including completion thereof and the use of proceeds therefrom, the exploration programs of the Company, mineral resource estimates and expected timing thereof and the Company's opportunities generally. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable as at the date of this press release, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inherent risks involved in the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive board, shareholder or regulatory approvals; and other risk factors listed from time to time in documents filed by the Company with Canadian securities regulators on SEDAR+ at www.sedarplus.ca . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Kobo assumes no obligation or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260323990734/en/
For further information:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
