Kobo Resources Receives Proceeds of $1,275,010 from Successful Warrant Exercise and Appoints Dr. Ghislain Tourigny as Structural Geology Consultant
August 30 2023 - 6:45AM
Business Wire
- Warrant exercise demonstrates existing shareholders'
confidence in the Company's ability to deliver on its exploration
program at its 100%-owned Kossou Gold Project in Côte d'Ivoire,
West Africa
- Appointment of a structural geologist consultant with prior
extensive experience working at the neighbouring Yaourè Gold Mine
operated by Perseus Mining Ltd. (“Perseus”)
Kobo Resources Inc. ("Kobo” or the "Company")
(TSX.V: KRI) is pleased to announce it has received
$1,275,010 in total gross proceeds from the exercise of 4,250,034
Common Share Purchase Warrants (the “Warrants”),
representing 100% of the outstanding Warrants expiring August 31,
2023.
The Company is also pleased to announce the appointment of Dr.
Ghislain Tourigny as structural geology consultant to assist in
furthering the understanding of the structural setting and controls
on gold mineralisation of key targets at its 100%-owned Kossou Gold
Project (“Kossou”).
Edward Gosselin, CEO and Director of Kobo commented: “The
successful exercise of Warrants reaffirms our existing
shareholders' confidence in our ability to successfully deliver and
execute on our exploration program thus far at Kossou. Among the
subscribers are several industry professionals which represents a
strong vote of confidence towards Kobo and its quest in making
Kossou a successful project. The additional capital will help
support our exploration plans going forward. We remain enthusiastic
about the opportunities that lie ahead, especially with the planned
additional drilling on the Jagger Zone, Road Cut Zone and first
holes at the Kadie Zone to further define and extend gold
mineralization within these zones.”
He continued: “It is a pleasure to have Dr. Ghislain Tourigny
join our team to help further our understanding of the overall
structural framework of our key targets at Kossou. Dr. Tourigny has
over 35 years of experience in structural geology, including four
years as the Group Structural Geologist at Perseus’ Yaouré Gold
Mine and three additional years consulting to Perseus mapping
exploration and exploitation permits and conducting detailed open
pit mapping at the Yaourè mine with an emphasis on structural
controls on gold mineralisation. The expertise that Dr. Tourigny
possesses of the area will prove invaluable as we work to further
understand the structural setting of our prospective targets,
including the Jagger Zone, Road Cut Zone, and the newly mapped
Kadie Zone.”
Dr. Ghislain Tourigny is a distinguished and accomplished
structural geologist with over four decades of expertise in
geology, particularly in West Africa. Dr. Tourigny’s most recently
served as Group Structural Geologist at Perseus in Cote d’Ivoire,
where he focused on the structural mapping of the Yaouré Gold Mine
open pit, with an emphasis on the structural controls of the
gold-bearing lenses, structural logging of the main fault zones and
the structural interpretation of airborne geophysical data. Dr.
Tourigny’s notable experience in West Africa over the last 20 years
includes holding the positions of Exploration Manager at SEMS
Exploration Services Ltd., Structural and Mineral Deposits
Geologist at Etruscan Resources Inc. and Senior Regional Geologist
High River Gold Mines Ltd. in Burkina Faso as well as Regional
Geologist at Gold Fields Ltd. in Mali. Dr. Tourigny holds a Ph.D.
in structural geology and metallogeny and a Masters in structural
geology from University of Montreal, and a Bachelor in geology from
University du Quebec, Montreal.
The Company has also filed its interim consolidated financial
statements for the three and six months ended June 30, 2023 and
2022, and its management's discussion and analysis for the three
and six months ended June 30, 2023, which are available at
www.koboresources.com or on the Company’s SEDAR+ profile at
www.sedarplus.com.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with
a compelling new gold discovery in Cote d’Ivoire, one of West
Africa’s most prolific and developing gold districts, hosting
several multi-million-ounce gold mines. The Company’s 100%-owned
Kossou Gold Project 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.
The Company is drilling to unlock the potential size and scale
of Kossou within 9+ km strike length of highly prospective gold in
soil geochemical anomalies with excellent rock and trench sampling
results. The Company’s 2023 exploration plan calls for over 8,000
meters of reverse circulation drilling with an immediate goal of
defining significant near surface zones of gold mineralisation.
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.
X: @KoboResources | LinkedIn: Kobo Resources Inc.
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 news release contains “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 and are based on
expectations, estimates and projections as at the date of this news
release. 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” or “could”, “would”,
“might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking statements
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, 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; and the delay or failure to receive board,
shareholder or regulatory approvals. 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 news release. Except as required by law, Kobo
assumes no obligation and/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/20230830456118/en/
Edward Gosselin Chief Executive Officer and Director
1-418-609-3587 ir@kobores.com
Kobo Resources (TSXV:KRI)
Historical Stock Chart
From Apr 2024 to May 2024
Kobo Resources (TSXV:KRI)
Historical Stock Chart
From May 2023 to May 2024