Robex Announces Closing of Offering of Common Shares
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.
QUÉBEC CITY, Jan. 29, 2025 (GLOBE NEWSWIRE) — Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is pleased to announce that it has closed its previously announced “best efforts” public offering of 16,585,400 common shares of the Company (each, a “Common Share”) at a price of $2.05 per Common Share for gross proceeds of $34,000,070 (the “Offering”). All currency amounts in this news release are stated in Canadian dollars, unless otherwise indicated.
The Offering was led by SCP Resource Finance LP, as bookrunner and agent (the “Agent”). The number of Common Shares sold and gross proceeds realized by the Company have been adjusted to reflect the exercise by the Agent of a portion of the over-allotment option granted to the Agent to purchase from the treasury of the Company (the “Over-Allotment Option”).
Following the closing of the Offering, the Company is well placed to continue to advance construction, engineering and the procurement of long-lead items for its flagship Kiniero Gold Project, in Guinea, which is targeting first gold pour in Q4 2025.
Matthew Wilcox, Managing Director and Chief Executive Officer: “This equity raise will allow Robex to move forward with the Kiniero construction which is accelerating towards a gold pour later this year. Kiniero will be a transformative project for the Company, and I look forward to seeing it commissioned.”
The Offering was completed under a prospectus supplement dated January 23, 2025 (the “Supplement”) to the Company’s short form base shelf prospectus dated July 20, 2023 (the “Base Shelf Prospectus”). The Supplement has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. The Common Shares were also offered by way of private placement in the United States in accordance with all applicable laws. The Supplement, the Base Shelf Prospectus and the Agency Agreement (as hereinafter defined) are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
The Offering has received conditional TSX Venture Exchange (“TSXV”) acceptance, and final approval of the TSXV is subject to receipt by the TSXV of customary closing materials.
The Company intends to mainly use the net proceeds from the Offering for the Kiniero Gold Project, in Guinea, to (i) advance the construction and engineering, and (ii) to continue the procurement of long lead items in line with the Company’s schedule for Q4 first gold pour. The remaining funds will be used for general and administrative as well as working capital, the whole as disclosed in the Supplement.
Pursuant to the terms of an agency agreement dated January 23, 2025 between the Company and the Agent (the “Agency Agreement”), in consideration of the services rendered by the Agent in connection with the Offering, the Company has paid the Agent a cash commission in the amount of $2,040,004.20 equal to 6.0% of the gross proceeds of the Offering, as adjusted to reflect the exercise in full by the Agent of the Over-Allotment Option.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares, in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States of America. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.
Robex is supported by two strategic shareholders and has the ambition to become one of the most important mid-tier gold producers in West Africa.
For more information
ROBEX RESOURCES INC.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
+1 581 741-7421
Email: investor@robexgold.com
www.robexgold.com
FORWARD-LOOKING INFORMATION AND FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains “forward‐looking statements” and “forward‐looking information” within the meaning of applicable Canadian securities legislation (referred to herein as “forward‐looking statements”). Forward-looking statements are included to provide information about the Company’s management’s (“Management’s”) current expectations and plans that allow investors and others to have a better understanding of the Company’s business plans and financial performance and condition.
Statements made in this news release that describe the Company’s or Management’s estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements”, and can be identified by the use of the conditional or forward-looking terminology such as “aim”, “anticipate”, “assume”, “believe”, “can”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “guide”, “indication”, “intend”, “intention”, “likely”, “may”, “might”, “objective”, “opportunity”, “outlook”, “plan”, “potential”, “should”, “strategy”, “target”, “will” or “would” or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Such statements may include, but are not limited to, statements regarding: obtaining the final acceptance of the Offering by the TSXV and the timing thereof; the listing of the Common Shares on the TSXV; the timing of the first gold pour at the Company’s Kiniero Gold Project; and the intended use of the net proceeds of the Offering.
Forward-looking statements and forward-looking information are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements or information. There can be no assurance that such statements or information will prove to be accurate. Such statements and information are based on numerous assumptions, including: obtaining the final acceptance of the Offering by the TSXV and the listing of the Common Shares on the TSXV; the availability of the net proceeds of the Offering in time for their intended use; the anticipated timing of the first gold pour at the Company’s Kiniero Gold Project; and general economic and financial conditions in Canada and the other jurisdictions where the Company intends to distribute securities in connection with the Offering.
Certain important factors could cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements including, but not limited to: delays in obtaining the final acceptance of the Offering by the TSXV and the listing of the Common Shares on the TSXV; delays in the timing of the first gold pour at the Company’s Kiniero Gold Project; instability in the general economic and financial conditions in Canada and the other jurisdictions where the Company intends to distribute securities in connection with the Offering; fluctuations in currency exchange rates; volatility in the market price of the Company’s shares; and changes in tax laws. See also the “Risk Factors” section of the Company’s Annual Information Form for the year ended December 31, 2023, available under the Company’s profile on SEDAR+ at www.sedarplus.ca or on the Company’s website at www.robexgold.com, for additional information on risk factors that could cause results to differ materially from forward-looking statements. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or Management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company’s plans and objectives, and may not be appropriate for other purposes.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
