Akobo Minerals AB (publ) - New share capital registered
Oslo, 21 July 2023: Reference is made to the stock exchange announcement published by Akobo Minerals AB (publ) ("Akobo" or the "Company") on 18 July 2023 regarding the completion of a directed share issue to set off a convertible loan, together with any accrued interest, against issuance of new shares in the Company.
Today, the new share capital was registered with the Swedish Companies Registration Office (Sw: "Bolagsverket"). Following registration, the Company has a share capital of SEK 1,956,478.687229 divided into 52,650,223 shares, each with a quota value of SEK 0.037160.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation (MAR).
For further information, please contact:
Jørgen Evjen, CEO Akobo Minerals
Mob: +47 92 80 40 14
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 12 years of on-the-ground activity.
Akobo Minerals holds a 16 km2 mining license and is working to start up mining of its very promising Segele target. It has an Inferred and Indicated Mineral Resource of 68.000 ounces yielding a world-class gold grade of 22.7 g/ton, combined with an estimated all-in sustaining cost (AISC) of 243 USD per ounce. Still open to depth, the gold mineralised zone continues to expand and will have a positive impact on future resource estimates and mine life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals has an excellent relationship with local communities all the way up to national authorities and we place environment and social governance (ESG) at the heart of our activities - as demonstrated by a planned industry-leading extending shared value program.
Akobo Minerals has built a strong local foothold based upon the principles of sound ethics, transparency, and communication, and is ready to take on new opportunities and ventures as they arise. The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry.
Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, whilst adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange and Frankfurt DAX under the ticker symbol, AKOBO.