Akobo Minerals AB (publ) - Mandatory notification of trade
Oslo Norway, 01 November 2023, Akobo Minerals AB (Euronext and Frankfurt: AKOBO) (OTCQX:AKOBF).
On October 12, 2020, the general meeting of Akobo Minerals AB (publ) decided on a directed issue of 9,420,000 warrants to senior executives in the group, entailing a right to subscribe for a total of no more than 942,000 shares during the period 2020-11-01 – 2023-10-31 at a subscription price of SEK 2.50/share, after recalculation according to the option terms ("The options"). Previously, a total of 442,000 shares were subscribed for and issued with the support of the Warrants.
On 31.10.2023, another 500,000 shares have been subscribed for by the Hans Olav Torsen (Chairman) with the support of the Warrants at a subscription price of SEK 2.50/share, which adds SEK 1,250,000 to the company. Through the issue, the number of shares in the company increases by 500,000 from 52,650,223 to 53,150,223 shares and the share capital increases by SEK 18,580 from SEK 1,956,478.687229 to SEK 1,975,058.687229 (calculated on a quota value of SEK 0.037160 /share).
Primary insider notification pursuant to the market abuse regulation article 19 is attached.
This information is subject to disclosure requirements set out in the Market Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act Section 5-12.
For further information, please contact:
Jørgen Evjen, CEO Akobo Minerals
Mob: +47 92 80 40 14
About Akobo Minerals
Akobo Minerals is a reputable Scandinavian-based gold exploration and boutique mining company. The company currently holds an extensive exploration license encompassing 182 square kilometres and a 16 square kilometres mining license, with an active mining operation in the Gambela region and Dima Woreda, Ethiopia. Akobo Minerals has emerged as the foremost gold exploration company in Ethiopia, boasting over 13 years of dedicated on-the-ground experience.
What sets Akobo Minerals apart is its strong commitment to fostering positive relationships with local communities, extending all the way to national authorities. This commitment is underscored by the company's unwavering dedication to environmental and social governance (ESG), as evidenced by their groundbreaking shared value program.
Akobo Minerals has firmly established its presence in the region by upholding the principles of ethical conduct, transparency, and open communication. This foundation positions the company to embrace new opportunities and ventures as they emerge, making it a key player in the burgeoning Ethiopian mining industry.
Akobo Minerals has charted a clear course for its future growth, with a strategy centered around amassing a portfolio of valuable gold resources through high-impact exploration and mining activities, all while maintaining an efficient and streamlined business operation.
The company is headquartered in Oslo and is publicly listed on the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol AKOBO. For US investors, Akobo Minerals AB (OTCQX: AKOBF) is traded on the OTCQX Best Market, adhering to high financial standards, best practice corporate governance, and compliance with U.S. securities laws. Additionally, the company has a professional third-party sponsor introduction, and investors can access current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Akobo Minerals places great emphasis on meeting and exceeding industry standards, fully complying with all aspects of the JORC code, 2012. For detailed information on their adherence to this code, please refer to https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical practices, community engagement, and environmental responsibility positions them as a formidable force in the evolving landscape of the Ethiopian mining sector.