Kobrea increases private placement to $8.5 million from $5 million

Kobrea Exploration Corp. (CSE: KBX) announced an increase to its private placement offering, expanding the total to $8.5 million from the previously announced $5 million through the addition of a $3.5 million non-brokered component.

The offering consists of up to 10 million units at $0.50 each through a brokered placement for proceeds of up to $5 million, plus up to 7 million units at the same price through a non-brokered private placement for proceeds of up to $3.5 million. Each unit includes one common share and one-half warrant, with each full warrant exercisable at $0.75 per share for 24 months from issuance.

Kernaghan & Partners Ltd. serves as lead agent and sole bookrunner for the brokered portion, working with a syndicate including Beacon Securities Limited and Red Cloud Securities Inc. The warrants cannot be exercised for 60 days from the issuance date.

The company plans to use net proceeds for drilling and exploration at its projects in Mendoza Province, Argentina, along with working capital and general corporate purposes. Kobrea holds rights to earn 100% interest in seven projects totaling 733 square kilometers in southwestern Mendoza Province.

The units will be offered under National Instrument 45-106 exemptions to purchasers in Canadian provinces except Quebec, in the United States under available exemptions, and in other mutually agreed jurisdictions. Securities issued under the Listed Issuer Financing Exemption will not be subject to Canadian hold periods.

The offering is expected to close around September 30, 2025, subject to regulatory approvals including Canadian Securities Exchange approval. The company also holds 100% interest in the Upland Copper Project in British Columbia.

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