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Kobrea Exploration Corp. ( (TSE:KBX) ) has provided an update.
Kobrea Exploration Corp. announced a $5 million private placement agreement with Kernaghan & Partners Ltd. and other agents to sell up to 10 million units at $0.50 per unit. The proceeds will be used for drilling and exploration in Argentina and general corporate purposes. This move is expected to enhance Kobrea’s operational capabilities and strengthen its position in the mineral exploration industry, potentially benefiting stakeholders by advancing its projects in promising regions.
More about Kobrea Exploration Corp.
Kobrea Exploration Corp. is a mineral exploration and development company focused on acquiring and exploring base metal projects. The company holds the right to earn a 100% interest in seven projects in southwestern Mendoza Province, Argentina, which are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Kobrea also has a 100% interest in the Upland Copper Project in British Columbia, Canada.
Average Trading Volume: 52,953
Technical Sentiment Signal: Sell
Current Market Cap: C$16.35M
For a thorough assessment of KBX stock, go to TipRanks’ Stock Analysis page.