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Kobo Resources Inc. ( (TSE:KRI) ) just unveiled an announcement.
Kobo Resources has closed a non-brokered private placement, raising approximately $5.53 million through the issuance of over 16.5 million common shares at $0.335 each. Lead investor Funde Investment Chang Ying No.1 Fund contributed $4.53 million and now holds about 9.99% of Kobo’s outstanding shares, with rights to maintain its stake in future equity financings.
The company plans to use the proceeds to advance drilling and exploration at its Kossou Gold Project, initiate drilling at the Kotobi permit and support general corporate purposes. Kobo also engaged Atrium Research to provide company-sponsored equity research and investor-focused content, a move aimed at broadening market visibility and strengthening its investment case as it progresses toward a maiden resource estimate and evaluates additional gold opportunities in Côte d’Ivoire.
The most recent analyst rating on (TSE:KRI) stock is a Buy with a C$0.60 price target. To see the full list of analyst forecasts on Kobo Resources Inc. stock, see the TSE:KRI Stock Forecast page.
More about Kobo Resources Inc.
Kobo Resources Inc., based in Quebec City and listed on the TSX.V, is a mineral exploration company focused on gold projects in Côte d’Ivoire. Its primary assets include the 100%-owned Kossou Gold Project and the Kotobi permit, where it is advancing drilling and exploration to define maiden resources and build a pipeline of growth opportunities in the West African gold sector.
Average Trading Volume: 171,007
Technical Sentiment Signal: Buy
Current Market Cap: C$36.83M
See more insights into KRI stock on TipRanks’ Stock Analysis page.