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Kobo Resources Inc. strengthens its technical team for its IPO

Kobo Resources Inc. is pleased to announce that Mr. Marc-Antoine Audet, Ph.D (Geology), P.Geo., will become Technical Advisor to the Board of Directors and Mr. Chris Picken, MIMMM will join Kobo as its Exploration Manager.

Mr. Marc-Antoine Audet, BSc, MSc and Ph.D (geology) will act as Technical Advisor to the Board. Dr. Audet has over 35 years of geological experience in exploration and developments projects internationally previously having been involved with Xstrata Nickel and Falconbridge in Africa, Brazil and New Caledonia.

He is currently CEO of Sama Resources Inc since March 2010 an emerging Junior co. exploring and developing the Samapleu Nickel-Copper-Palladium deposit in Côte d’Ivoire in West Africa. He is also founder and lead geologist for SRG Mining, a company developing a graphite project in Guinea, West Africa.

Mr. Audet is also a Consulting Geologist specialized in project management in foreign countries as well as in mineral resource and reserve estimations and reporting. He has offered his expertise towards the implementation and management of greenfield and early development stage projects in foreign environments (Africa, South America, Pacific, Caribbean, etc.) with experience in environmental, health and safety and social/community aspects.

Kobo is also pleased to announce that Mr. Chris Picken, MIMMM will join Kobo as its Exploration Manager. Mr. Chris Picken has over 35 years’ experience in the mineral exploration industry as a geologist, exploration manager and chief operating officer. He has worked for a numerous of international major, mid-tier and junior exploration companies in various countries in Africa and South America with a track record of significant mineral discoveries resulting from his participation in exploration programs.

Chris has been exploring Archaean and Birimian gold terranes in West Africa for the past ten years in Côte d’Ivoire, Liberia and Sierra Leone. He was the geological superintendent for the pre-feasibility and definitive-feasibility study drill programs at the Yaouré Gold Deposit between 2014 and 2018 for Amara Mining and Perseus Mining following their acquisition in 2016. Prior to this he spent time in Tanzania and Uganda targeting greenstone-hosted gold mineralization in the Lake Victoria region.

About Kobo

Incorporated in December 2015 and headquartered in Quebec City, Kobo Resources Inc. is a junior exploration and mining development company focused on acquiring, exploring and developing gold projects located in West Africa, primarily in Côte d’Ivoire. Kobo has, through its wholly owned subsidiary KOBO Ressources C.I., obtained two research permits for gold covering approximately 449 km2. Kobo’s primary objective is the exploration and development of the Kossou Gold Project, located in the Yamoussoukro and Bouaflé regions of central Côte d’Ivoire, and which covers an area of 147.365 km2. The Kossou project is located 6 km east of the Yaouré Gold Deposit exploited by Perseus Mining since March 2021.

Kobo has filed with the securities regulatory authorities in the provinces of British Columbia, Alberta, Ontario and Québec, and obtained on May 27, 2022 a receipt for a final amended long-form prospectus (the “Final Prospectus”) for a proposed initial public offering of units of the Corporation (“Units”) for a minimum aggregate gross proceeds of $5,000,000 and up to a maximum aggregate gross proceeds of $10,000,000 (the “Offering”).

The issue price for each Unit is $0.25. The number of Units to be sold pursuant to the Offering has not yet been determined. Each Unit consists of one common share of the Corporation (a “Common Share”) and one-half of one Common Share purchase warrant of the Corporation (a “Warrant”). Each whole Warrant entitles the holder to purchase one Common Share for a purchase price of $0.40 per Common Share for a period of three years from the closing of the Offering.

The Offering will be conducted on a “best efforts” basis by Echelon Wealth Partners Inc. as lead agent on behalf of a syndicate of agents that includes Laurentian Bank Securities and Leede Jones Gable Inc. (collectively, the “Agents”). The Corporation has granted the Agents an over-allotment option to purchase up to such additional number of Units, Warrants, Common Shares, or a combination thereof, as is equal to 15% of the Units offered and sold in the Offering exercisable in whole or in part at any time for a period of 30 days after and including the closing of the Offering.

The closing of the Offering is expected to occur on or about August 15, 2022 and is subject to customary closing conditions, including the receipt of all necessary regulatory approvals. The TSX Venture Exchange (the “TSXV”) has conditionally approved the listing of the Common Shares, including those to be issued and sold pursuant to the Offering. Listing is subject to the approval of the TSXV in accordance with its original listing requirements including Kobo’s fulfilling customary TSXV requirements. The Common Shares are expected to commence trading on the TSXV under the symbol “KRI” on the closing date of the Offering.

The net proceeds of the Offering will be used to fund the planned exploration program at the Corporation’s Kossou Gold Project, exploration activities at its Bongouanou Project, working capital and general corporate purposes, as set out in the Final Prospectus.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Kobo in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The TSXV has neither approved nor disapproved the contents of this news release. 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 news release.

The Corporation’s securities 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 state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, the Corporation’s securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

 

 

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