November 26, 2021

Kobo Resources Inc. files preliminary prospectus for initial public offering

Not for distribution to U.S. news wire services or dissemination in the United States.

Montréal, Québec, November 26, 2021 – Kobo Resources Inc. (“Kobo” or the “Corporation”) is pleased to announce that it has filed with the securities regulatory authorities in the provinces of British Columbia, Alberta, Ontario and Québec, and obtained a receipt for, a preliminary long-form prospectus (the “Preliminary Prospectus”) for a proposed initial public offering of units (the “Offering”) for a minimum aggregate gross proceeds of $5,000,000 and up to a maximum aggregate gross proceeds of $10,000,000. Each unit consists of one common share of the Corporation and one-half of one common share purchase warrant of the Corporation. The number of units to be sold and the price per unit have not yet been determined.

The Offering will be conducted on a “best efforts” basis by Echelon Wealth Partners Inc. (the “Agent”). The Corporation has granted to the Agent an over-allotment optionto purchase up to an additional number of units representing 15% of the number of units sold under the Offering.

The Preliminary Prospectus contains important information relating to Kobo, the units and the Offering and is still subject to completion or amendment. Copies of the Preliminary Prospectus are available on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Kobo in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Kobo will apply to list its common shares on the TSX Venture Exchange (“TSXV”). Listing is subject to Kobo fulfilling all of the listing requirements of the TSXV.

The TSXV has in no way approved nor disapproved the contents of this press release. 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 press release.

The Corporation’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions the registration requirements of the U.S. Securities Act and applicable state securities laws.

About Kobo

Incorporated in December 2015 and headquartered in Quebec City, Kobo is a junior exploration and mining development company focused on acquiring, exploring and developing gold projects located in West Africa, primarily in Côte d’Ivoire. Kobo has, through its wholly owned subsidiary KOBO Ressources C.I., obtained two research permits for gold covering approximately 449 km2. Kobo’s primary objective is the exploration and development of the Kossou Project, located in the Yamoussoukro and Bouaflé regions of central Côte d’Ivoire, and which covers an area of 147.365 km2. The Kossou project is located 6 km east of the Yaouré Gold Deposit exploited by Perseus Mining since March 2021.

Forward-Looking Statements

This news release may contain forward-looking statements which reflect management’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially those projected herein. Kobo disclaims any obligation to these forward-looking statements except as required under applicable securities laws.

For further information, please contact:
Investor Relations
Edouard Gosselin, CEO
info@koboresources.com