Kobo Resources Announces Results of its Annual Meeting of Shareholders and Filing of its Q1 2024 Results
Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) is pleased to announce that, at the annual meeting of shareholders of the Company held on August 29, 2024 (the “Meeting”), shareholders elected each of Edward Gosselin, Paul Sarjeant, Frank Ricciuti, Patrick Gagnon, Jeff Hussey, Brian Scott and Vivek Dharni as directors of the Company. Shareholders also voted to appoint MNP LLP as auditor of the Company. A description of the matters put to a vote at the Meeting can be found in the management information circular dated July 25, 2024 available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
Frank Ricciuti, Chairman of the Board of Kobo, commented: “On behalf of the entire Board, we are pleased to welcome Mr. Vivek Dharni as the newest member of Kobo Resources' Board of Directors. With over 20 years of experience in strategic roles across corporate development and finance, particularly in Africa, Vivek’s expertise will be an asset as we continue our exploration efforts at the Kossou Gold Project and on the Kotobi Permit. His extensive background in the mining and resource sectors, combined with his commitment to sustainable growth, also aligns perfectly with our vision for Kobo’s future in the region.”
He continued: “The partnership with Luso Global Mining and Mota-Engil opens the door to valuable synergies that will enable Kobo to advance its strategic objectives and explore new opportunities across Africa. By combining our strengths, we look forward to moving forward and advancing our shared commitment to creating long-term value for our shareholders.”
About Vivek Dharni
Mr. Dharni is a business leader with over 20 years of experience managing strategic roles in corporate development and finance related functions in diverse and challenging environments. Mr. Dharni is focused on being a transformational leader dedicated to driving impactful change within resources, infrastructure and renewable energy space, pioneering better business practices focusing on sustainable growth strategies that positively impact both society and the economy as well as elevating value for diverse stakeholders. Mr. Dharni has worked in internationally recognized institutions like the HDFC group, Mota-Engil group and Rio Tinto, and is currently engaged as the Head of Mergers & Acquisitions for Mota-Engil group in Africa and the Middle East. During the course of his professional career, he has worked both as a financier and investor as well as an industry partner in the real asset space (Infrastructure and Resources) in Africa, Asia, Middle East and Europe. He has acquired strong skills in Negotiation, Business Planning and Control, Business Development, Investments and Capital Raising, Management, and JVs having led private equity and structured finance transactions of more than US$20 billion. Mr. Dharni holds an MBA from IE Business School in Spain and charters from the CFA Institute and the CAIA Association.
Kobo also announces the filing of its unaudited condensed interim consolidated financial statements for the three-month period ended June 30, 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.
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, 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. 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. In 2023, the Company completed approximately 5,900 meters of reverse circulation (RC) drilling and 5,400 meters of trenching, alongside 4,368 meters of diamond drilling in 2024. Moving forward, the Company plans to conduct an additional 10,000 meters of core diamond drilling during the remainder of 2024 at key targets at the Kossou Gold Project. The Company also plans on additional exploration on its Kotobi Permit and pending approval for over 600 km2 of prospective ground as part of its strategic efforts to expand its footprint in Côte d'Ivoire.
Kobo remains committed to identifying and developing new opportunities to enhance its land position and growth in the region. 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”, “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.
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