Kobo Resources Receives Proceeds of $1,275,010 from Successful Warrant Exercise and Appoints Dr. Ghislain Tourigny as Structural Geology Consultant
Kobo Resources Receives Proceeds of
$1,275,010 from Successful Warrant Exercise
and Appoints Dr. Ghislain Tourigny as
Structural Geology Consultant
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”)
QUEBEC CITY--(BUSINESS WIRE)--August 30, 2023--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.
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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
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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
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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
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statements of beliefs, opinions, projections, or other factors, should they change, except as
required by law.
Contacts
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587