Kobo Resources Strengthens its Board of Directors with the Appointment of Brian Scott: Former VP of Geology & Technical Services at B2Gold Corp.
Kobo Resources Strengthens its Board of
Directors with the Appointment of Brian
Scott: Former VP of Geology & Technical
Services at B2Gold Corp.
Veteran gold exploration executive with over 35 years of experience appointed to
Kobo’s Board of Directors
Mr. Edward Gosselin, Chief Executive Officer, and Mr. Paul Sarjeant, President
and Chief Operating Officer to attend PDAC 2024 exhibiting at booth 3235
QUEBEC CITY--(BUSINESS WIRE)--February 28, 2024--Kobo Resources Inc. ("Kobo” or the
"Company") (TSX.V: KRI) today announces the appointment of Mr. Brian Scott to its Board of
Directors (the “Board”) and the resignation of Mr. Charles Spector.
Frank Ricciuti, Chairman of Kobo commented: “As Kobo begins a phase of growth with its
exploration program in 2024, particularly the 5,000-metre diamond drill program planned for
Q1 2024, the addition of Brian to Kobo's Board of Directors promises to greatly benefit the
Company, its employees and shareholders. Brian has gathered extensive exploration and
resource estimation modelling experience during his distinguished mining career spanning over
35 years. During this time, his expertise was instrumental in the success of various large-cap
gold companies such as B2Gold Corp. and Bema Gold Corp. (acquired by Kinross Gold in
2006), which will complement the Company’s efforts to move its 100%-owned Kossou Gold
Project forward.”
He continued: “On behalf of the entire Board and management, I would like to thank Charles for
his many contributions during his tenure at Kobo. Charles was instrumental in helping the
Company achieve its going public transaction and made the process as seamless as possible.
Charles will remain as an advisor to the Board and we wish him continued success with his law
practice in the future.”
“The Kossou Gold Project has shown to date significant promise, and I am confident that my
experience in advancing similar gold projects will serve the Board well in developing Kobo into
a producing gold company in the future,” commented Scott. “I am delighted to join Kobo's
Board of Directors and look forward to supporting the Company in the years to come.”
Brian Scott is a geologist with over 35 years of exploration and mine development experience
across a wide variety of deposit types and political jurisdictions throughout the world. His
experience encompasses a wide range of deposit types from high Andes porphyries (Cerro
Casale and Refugio) to orogenic gold deposits (Venezuela, Canada, Finland, West Africa,
Namibia, Uruguay, and South Africa) and epithermal deposits (Russia, Philippines, Central
America). During his 30-year career with Bema Gold Corp. (acquired by Kinross Gold) and
B2Gold Corp., he engaged in all phases of exploration, development, and mining within the
Bema Gold Corp./B2Gold Corp. portfolio of properties. During this period, his responsibilities
included providing geological guidance on exploration programs. He also managed B2Gold
Corp.'s Technical Services Group and oversaw its in-house Technical Services Team's geologic
and resource estimation models. Mr. Scott retired from B2Gold Corp. at the end of 2023 where
he served as VP Geology and Technical Services from 2015 to 2023. Prior to that, Mr. Scott was
Chief Geologist for B2Gold Corp. from 2007 to 2014 and Chief Geologist for Bema Gold Corp.
from 1996 to 2007. Mr. Scott holds a Bachelor of Science (Honours) degree in Geology from
Lakehead University in Ontario.
Kobo Resources to Exhibit at PDAC 2024
The Company announces that it will be exhibiting at the annual 2024 Prospectors &
Development Association of Canada (“PDAC”) convention at the Metro Toronto Convention
Centre (MTCC). The Company invites interested PDAC attendees to visit its booth #3235 in the
Investors Exchange, South Building during the in-person event from Sunday, March 3 to
Wednesday, March 6, 2024.
Management will provide details of its exploration program at its 100%-owned Kossou Gold
Project in 2023, following an initial phase of drilling and ongoing trenching activities that have
yielded significant gold results across three distinct targets. Further, the Company will provide
an overview of its exploration plans in the year ahead, beginning with a fully funded 5,000 m
drilling program in Q1 2024.
PDAC is the world’s premier mineral exploration & mining convention and brings together
professionals, governments, companies and organizations from around the world to explore the
latest advancements in the mining industry through a wide range of programming, courses, and
networking events.
Investors interested in attending the PDAC can register
here:www.pdac.ca/convention/attend/registration. Kobo invites attendees to visit its booth where
they will have the opportunity to engage directly with the Company's management team and
learn more about Kobo’s recent exploration efforts and upcoming plans.
Other Corporate Matters
On December 1, 2023, the Company merged with its subsidiary Boko Resources Inc. in order to
simplify its corporate structure, reporting obligations and reduce general and administrative
costs.
Furthermore, effective in 2023, the Company changed its financial year-end from December 31
to March 31, 2024, to align the Company’s year-end with that of its operating subsidiary and to
facilitate financial reporting and the preparation of corporate tax returns. The change in year-end
resulted in the Company filing a one-time, fifteen-month transition year covering the period of
January 1, 2023 to March 31, 2024.
Grant of Options
The Company announces that it has granted 300,000 stock options (“Options”) to purchase
common shares of the Company to Mr. Brian Scott, following his appointment as director of the
Company, and 50,000 stock options (“Options”) to purchase common shares of the Company to
Mr. Carmelo Marrelli, as CFO of the Company, pursuant to the Company’s 9.5% fixed stock
option plan (the “Company’s Stock Option Plan”). Such Options are exercisable into common
shares of the Company at an exercise price of $0.35 per common share for a period of 10 years
from the date of grant as per the Company’s Stock Option Plan. These options will vest in equal
tranches of twenty-five per cent (25%) every 3 months following their grant date.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold
discovery in Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts. 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 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.
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.
Contacts
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
X: @KoboResources | LinkedIn: Kobo Resources Inc.