Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Koulou Gold Corp. ("Koulou Gold" or the "Company") is pleased to announce a capital raise of $15 million through a non-brokered private placement (the "Financing") for gross proceeds of $12,286,500 and the exercise of warrants by Endeavour Mining plc ("Endeavour") for gross proceeds of $2,713,500.
The Financing is expected to raise up to $12,286,500 through the sale of up to 29,253,572 common shares at a price of $0.42 per share. Pursuant to the Financing, Endeavour has issued a notice of its intent to exercise its equity participation right granted in the investor rights agreement between the Company and Endeavour dated May 24, 2024, by participating in the financing to maintain its pro-rata ownership position through the subscription of 5,578,247 common shares at a share price of $0.42 per share for an aggregate subscription price of $2,342,864.
Furthermore, Endeavour has exercised all of its previously held warrants acquiring an aggregate of 6,460,714 additional common shares at a price of $0.42 per share. The warrant exercise generated gross proceeds to the Company of $2,713,500 and increased Endeavour's ownership in Koulou Gold from 12.36% to 19.07%.
Combined with the proceeds from the Financing, the total capital raised will amount to $15 million.
Finder's fees may be payable in the connection with the Financing. Completion of the Financing is subject to any required regulatory approvals and filings. All securities issuable in the Financing will be subject to resale restrictions under applicable securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The 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 or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About the Assuéfry Project
The 335.88km2 Assuéfry exploration permit was granted on December 5, 2024, to Tropic Mining Group (TMG). Koulou Gold holds an option to earn up to 90% interest in the Project. Assuéfry is in a similar structural setting as Endeavour's Assafou project and the permit area is underlain by the same Tarkwaian-like Koun-Tanda basin and Birimian volcanic rocks as Assafou (Figure 1).
Figure 1. Assuéfry and Tanda-Iguela permits regional overview with BRGM's 2005 geology and structural interpretation and Siméon et al., 1995 200k structural interpretation
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The Assuéfry Project is set for an aggressive exploration program in 2025, aimed at identifying and testing targets by year-end. The planned 2025 activities include:
Regional soil sampling (50m x 600m) across the permit area to evaluate anomalous gold-in-catchments and historical gold occurrences.
Infill soil sampling (50m x 200m) along extensions of robust gold-in-soil anomalies and verification of historical data.
Detailed airborne magnetic surveys over the entire permit area and ground IP surveys over identified soil anomalies.
Up to 20,000m of Diamond and RC Drilling.
Qualified Person
Mr. Arnaud Fontaine, P.Geo. (APGO no. 3570), PhD., and a Qualified Person as defined under National Instrument NI43-101, has reviewed and approved the scientific and technical information in this press release.
About Endeavour Mining
Endeavour Mining is one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d'Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London and Toronto Stock Exchanges, under the symbol EDV.
For more information about Endeavour Mining, please visit www.endeavourmining.com.
About Koulou Gold Corp.
Koulou Gold Corp. is a private mineral exploration company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada. Koulou Gold's focus is early to advanced-stage exploration in West Africa.
For more information about Koulou Gold Corp., please visit www.koulougoldcorp.com.
On behalf of Koulou Gold Corp.
Désiré Aboukan, President and Director
For further information - please contact:
Alex Ruggieri, CEO and Director
Koulou Gold Corp.
alex@koulougoldcorp.com
+1 778 888 4986
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE: Koulou Gold Corp.
