Kobrea Closes Previously Announced $8.5 Million Private Placement

Core Viewpoint - Kobrea Exploration Corp. has successfully closed a private placement offering, raising a total of $8.5 million through the issuance of 17,000,000 units at a price of $0.50 per unit [1][3]. Group 1: Offering Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.75 for 24 months [2]. - The offering includes a brokered tranche of 7,753,000 units, generating gross proceeds of $3,876,500, and a non-brokered tranche of 9,247,000 units, generating gross proceeds of $4,623,500 [3]. - The brokered offering was led by Kernaghan & Partners Ltd., with a cash commission of $180,090 and 360,180 non-transferable broker warrants issued [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated towards drilling and exploration projects in Mendoza Province, Argentina, as well as for working capital and general corporate purposes [3]. Group 3: Company Overview - Kobrea Exploration Corp. focuses on mineral exploration and development, holding rights to 7 projects totaling 733 km² in Mendoza Province, Argentina, which are prospective for porphyry copper and copper-gold deposits [8]. - The company also owns a 100% interest in the Upland Copper Project located in British Columbia, Canada [8].