Kobo Resources Announces Results of its Annual and Special Meeting of Shareholders and Other Corporate Matters

QUEBEC CITY--(BUSINESS WIRE)--Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to announce that the nominees, namely Paul Sarjeant, Frank Riccciuti, Patrick Gagnon, Jeff Hussey, Charles R. Spector and Edouard Gosselin, presented in the Management Information Circular dated May 1, 2023 for the Company’s Annual and Special Meeting of Shareholders (the “Meeting”) held on Monday, June 12, 2023 were elected as directors of the Company.

All other items of business set forth in the Circular and considered at the Meeting were passed by the shareholders of Kobo, including the appointment of BDO Canada LLP as auditors for the ensuing year. Kobo’s board would like to express its gratitude to its shareholders for their continued support.

Options Grant

The Company announces that it has granted a total of 2,075,000 stock options (“Options”) to purchase common shares of the Company to certain directors, officers, employees and consultants pursuant to the Company’s 9.5% fixed stock option plan (the “Company’s Stock Option Plan”). Such Options are exercisable into common shares of the Company at an exercise price of $0.30 per common share for a period of 10 years from the date of grant as per the Company’s Stock Option Plan. Twenty-five per cent (25%) of the Options vest every 3 months following their grant date.

CEO Interview with Crux Investor

Mr. Edouard Gosselin, CEO and Director of Kobo, participated in a sit-down interview with Matthew Gordon from Crux Investor to discuss the Company's exciting new gold discovery at its Kossou Gold Project in Cote d'Ivoire. As part of his presentation, Mr. Gosselin also provided an update on the Company's future plans in 2023, including its fully funded maiden drill program as well as an overview of future plans during the remainder of the year.

Watch the full interview here.

Investor Relations Consultant

The Company announces that it has retained the services of Renmark Financial Communications Inc. (“Renmark”) to handle its investor relations activities. Renmark was engaged to heighten market and investor awareness for the Company and broaden the Company’s reach within the investment community.

Renmark has been engaged for an initial 7-month period (the “Initial Term”) which will commence on July 1, 2023. The term will automatically continue after the Initial Term monthly, unless terminated in accordance with the investor relations agreement among the parties. As consideration for the services rendered by Renmark, the Company will pay Renmark a monthly fee of CAD$7,000 during the Initial Term. The Company and Renmark act at arm’s length, and Renmark has no present interest, directly or indirectly, in the Company or its securities, or any right or present intent to acquire such an interest.

Renmark is a full-service investor relations firm representing small, medium, and large cap public companies trading on all major North American exchanges. Renmark facilitates connections between their clients and key stakeholders in order to assist their clients in efficiently achieving their milestones. Renmark has offices in Toronto, Montreal, New York, and Atlanta.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Cote 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. The Company’s 2023 exploration plan calls for over 8,000 meters of reverse circulation drilling with an immediate goal of defining significant near surface zones of gold mineralisation. 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.

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

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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”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “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 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 board, shareholder or regulatory 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, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.