Kobo Resources Announces Execution of Relationship Agreement with Luso Global Mining and Filing of Fiscal Year 2024 Financial Results
PRESS RELEASE JULY 30, 2024
Kobo Resources Announces Execution of Relationship Agreement
with Luso Global Mining and Filing of Fiscal Year 2024 Financial
Results
QUEBEC CITY, QC – Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) announces the
execution of a Relationship Agreement with LUSO Global Mining and the filing of its audited consolidated
financial statements for the fifteen-month period ended March 31, 2024 and related management’s
discussion and analysis. Copies of these financial statements and related management's discussion and
analysis can be found on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca as well as on the
Company’s website at www.koboresources.com.
Edward Gosselin, CEO and Director of Kobo commented: “We look forward to advancing our strategic
partnership with Luso Global Mining, a wholly owned subsidiary of Mota-Engil, which brings significant
benefits to both parties by enhancing our access to operational capabilities with their proven engineering
and construction expertise, particularly for our Kossou Gold Project and regional opportunities as we begin
our next phase of growth. We are also excited to welcome Mr. Vivek Dharni’s nomination to our Board of
Directors. His extensive experience in finance and infrastructure development will be a valuable asset as
we continue to advance our projects.”
Alexander Shaw, CEO of LGM commented: “On behalf of Luso Global Mining, our team is excited to begin
and grow our partnership with Kobo Resources moving forward. Leveraging our extensive experience
across Africa, we are committed to supporting Kobo's growth and success. We look forward to a successful
collaboration and are confident that Mr. Vivek Dharni will make significant contributions to Kobo’s Board.”
Relationship Agreement with Luso Global Mining
As previously announced, Luso Global Mining B.V. (“Luso”), a wholly owned subsidiary of Mota-Engil
SGPS, S.A. (“Mota-Engil”), participated in the recent non-brokered private placement of units of the
Company as a lead investor. Further to the completion of the private placement, Luso beneficially owns
10,225,708 shares and 5,112,854 warrants, representing 9.99% of the Company’s issued and outstanding
shares on a non-diluted basis, and 14.27% of the issued and outstanding shares on a partially-diluted basis,
assuming the exercise of the Warrants held by Luso only. In connection with Luso’s investment, the
Company and Luso entered into a relationship agreement dated as of July 25, 2024 whereby for so long
as Luso holds, directly or indirectly, at least six (6%) percent of the Company’s shares, Luso will have the
right to propose for election to the board of directors of the Company one director until the next annual
meeting of shareholders of the Company. Luso’s proposed candidate as director of Kobo at the upcoming
annual meeting of shareholders of the Company is Mr. Vivek Dharni.
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Mr. Dharni leads fund raising and capital structuring for Mota-Engil (Africa) for projects under development
as Principal – Private Equity and Debt Finance. Mr. Vivek has more than 15 years of extensive experience
in the financial services sector and the corporate sector having worked in various position in Corporate/
Project Debt as well as Private Equity space. He brings experience across the developed, developing and
frontier markets having worked in Africa, Middle East, South Asia and Southeast Asia. He specialises in
the acquisition and due-diligence process of asset portfolio across Infrastructure and Real Estate domains.
Vivek joined Mota-Engil in early 2015 as a key member of the team driving the company’s strategic vision
of becoming a provider of infrastructure solutions across the African continent. Vivek holds an MBA from
IE Business School, Spain and graduated from Mumbai University, India.
Annual Meeting of Shareholders
The Company reminds shareholders that the n ext annual meeting of shareholders of the Company
(the “Meeting”) will be held on August 29, 2024 at 3:00 p.m. (Quebec time) for the purposes of receiving
the financial statements of the Company for the fifteen-month period ended March 31, 2024 and the report
of the auditor thereon, electing directors for the ensuing year and appointing the auditor and authorizing the
directors to fix its remuneration. The Meeting will be held at the offices of McCarthy Tétrault LLP located at
500, Grande Allée East, 9th Floor, Québec, Québec, G1R 2J7. A copy of the management information
circular is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
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 completed ~6,000 m
of RC drilling and ~5,400 m of trenching in 2023 and is planning on additional drilling and trenching in 2024. Significant
gold mineralisation has been identified at three main targets within a 300 m wide, 2+ km long, pervasively altered
structural corridor defining a potentially large mesothermal gold system.
Kobo’s common shares trade on the TSX Venture Exchange under the symbol "KRI”. For more information, please
visit www.koboresources.com.
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For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
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.
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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”, “anticipates”, “plans”, “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. In this news release, forward-looking
statements include, but are not limited to; the completion of the Company’s business objectives, and the timing, costs,
and benefits thereof; development and exploration costs; the Company’s ability to complete or not its diamond drill
program on the Kossou Gold Project and the Company’s ability to conduct the proposed exploration program on its
Kotobi exploration permit, located in Côte d’Ivoire.
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 requisite 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, the Company assumes no obligation to update the forward-looking
statements.