Kobo Resources Inc announced the closing of the second installment (the “Second Tranche”) of its previously announced non-brokered private placement of units (the “Units”) for gross proceeds of $2,995,497 (the “Offering”).

8,558,563 units were issued at a price of $0.35 per unit, as part of the second installment of the offering. In fact, upon the closing of the ^1st Tranche (the “First Tranche”) and the concurrent private placement (the “Concurrent Financing”) on June 4, the Company issued a total of 12,622,504 units. The closing of the two Tranche allowed the Company to raise gross proceeds of $7.413 million. According to Edward Gosselin, CEO and director of Kobo, “the success of the company's private placement represents a significant milestone for Kobo, demonstrating market confidence in our team and in our wholly-owned Kossou gold project. With the enormous support of existing and new shareholders, we can build on this foundation for dynamic growth in Kossou, while continuing to develop our key assets and generate value for all interested parties