Brief: Akobo Minerals Secures NOK 22.48 Mln In Funding Through Convertible Loan

Akobo Minerals AB (publ)

20/03/2023 10:25

March 20 (Reuters) - Akobo Minerals AB (publ)
 AKOBO.OL :
    * AKOBO MINERALS SECURES NOK 22.475 MILLION IN FUNDING
THROUGH A
CONVERTIBLE LOAN
    * ISSUED AN UNSECURED CONVERTIBLE LOAN ( "LOAN") OF NOK
22.475
MILLION (APPROX. USD TWO MILLION) FROM NEW AND EXISTING
INVESTORS
    * TO FUND FINAL PHASE OF ITS SEGELE MINING OPERATION IN
GAMBELLA,
ETHIOPIA
    * BOARD OF DIRECTORS AND MANAGEMENT OF AKOBO MINERALS
CONTRIBUTED
WITH NOK 3.8 MILLION OF FUNDS.
    * LOAN CONTRIBUTION - PRIMARILY FROM MAJOR SHAREHOLDERS -
HAS A
TERM OF TWO YEARS AND AN INTEREST RATE OF 15 % P.A.

Source text for Eikon:  ID:nWkr2kJQ8y 
Further company coverage:  AKOBO.OL 

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