09:22 AM EDT, 03/23/2026 (MT Newswires) -- Kobo Resources ( KBRIF ) said Monday that it is raising up to near C$5.5 million in a private placement to advance the Kossou gold project in Cote d'Ivoire.

In a statement it said the company plans to continue drilling at Kossou as it advances toward establishing an inaugural Mineral Resource Estimate for the project, currently targeted for mid-2026.

The company also plans to use the funds to initiate drilling at the Kotobi permit in the second quarter, as well as for general corporate and working capital purposes.

The offering comprises up to 16,504,128 shares priced at $0.335 apiece.