QUEBEC CITY, April 15, 2026 (GLOBE NEWSWIRE) -- Kobo Resources Inc. ("Kobo" or the "Company") (TSX.V: KRI) is pleased to announce that it has closed its previously announced non-brokered private placement of common shares of the Company ("Common Shares") for gross proceeds of $5,528,882.89 (the "Offering"). Under the Offering, 16,504,128 Common Shares were issued at a price of $0.335 per Common Share.
Funde Investment Open-ended Fund Company - Funde Investment Chang Ying No.1 Fund ("Funde") participated in the Offering as a lead investor for an amount of $4.53 million. Following the completion of the Offering, Funde beneficially owns 13,519,053 Common Shares, which represent approximately 9.99% of the issued and outstanding Commons Shares. In connection with Funde's investment, the Company granted Funde the right to top up its interest in the Company in the event of certain equity security issuances of the Company for so long as Funde holds, directly or indirectly, at least 9% of the issued and outstanding Common Shares.
Edward Gosselin, CEO and Director of Kobo commented: "We are very pleased with the closing of our financing following the market's interest in recognizing the potential in developing our 100%-owned Kossou Gold Project. The proceeds 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." He continued: "We are extremely pleased to announce Funde's investment as a significant long-term shareholder in Kobo. This investment not only reflects their confidence in our vision for the Kossou Gold Project, but also signifies the beginning of a mutually beneficial relationship aimed at advancing our project portfolio with the potential of exploring new opportunities."
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 Common Shares were issued pursuant to the "accredited investor" exemption from the prospectus requirements in accordance with Regulation 45-106 respecting Prospectus Exemptions. The Common Shares issued under the Offering are subject to a statutory hold period until August 15, 2026 in accordance ...
