Kobrea Exploration (CSE:KBX) is boosting its previously announced private placement to raise a total of C$8.5 million ($9.31 million) by earning an additional C$3.5 million through a concurrent non-brokered offering.
The offering sees the company issuing 10 million units at a price of C$0.50 to raise the first C$5 million, before the remaining 7 million units will be issued under the same offer price to raise another $3.5 million.
Kernaghan & Partners is acting as lead agent and sole bookrunner on behalf of a syndicate of agents including Beacon Securities and Red Cloud Securities.
Each unit comprises one share and one-half purchase warrant, with one whole warrant entitling the holder to acquire one share at C$0.75 for a 24 month period from the issue date.
As reported by Mining.com.au, proceeds will be used to cover drilling and exploration costs across the company’s holdings in the Mendoza province of Argentina.
The offer is expected to close on or around 30 September 2025.
Kobrea Exploration is a mineral explorer focused on acquiring and developing base metals projects, currently holding a portfolio of seven projects in the Mendoza province of Argentina.
Write to Maddison Elliott at Mining.com.au
Images: Kobrea Exploration
