Private Placement resolved

Reference is made to the announcement by Akobo Minerals AB (publ.) (“Akobo” or the “Company”) on 5 July 2021 where Oslo Børs decided to admit the Company to trading. In connection with and prior to the admission to trading at Euronext Growth, the Company has today resolved to increase the Company’s share capital with SEK 247,733.30856 in a private placement, by issuing 6,666,666 new shares at a subscription price of SEK 7.44934 (the “Private Placement”) raising gross proceeds for the Company of approximately SEK 50 million.

The Private Placement will be settled by the manager on a delivery-versus-payment expected by mid-July 2021 following the due registration of the new share capital in the Swedish Companies Registration Office and the issuance of the shares in VPS (i.e. depositary receipts). The delivery-versus-payment settlement in the Private Placement is facilitated by a pre-funding agreement between the Company and the manager.

Calculated from the first listing day on Euronext Growth Oslo, the Company, Hans Olav Torsen (Chairman), Jørn Christiansen (Board Member) and executive management has agreed to a 12-month lock-up.

SpareBank 1 Markets AS is acting as manager in connection with the Private Placement. AGP Advokater AS is acting as legal advisor to the Company and Kvale Advokatfirma DA is acting as legal advisor to the Manager.