Kibo Issue of Shares for Cash
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company, herein announces that it has issued 1,750,000 new ordinary shares of Eur0.015 (“Ordinary Shares”) at 1 . 5 p per share (the “Settlement Shares”) for cash, to settle an invoice in respect of advisory services to the Company for a total cost of £26,250. These services comprise investor relations and corporate strategy consultancy work.
Application will be made for the Settlement Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Placing Shares is expected to commence on AIM and the JSE on or around 27 November 2014 (“Admission”). On Admission, the Company will have 264,238,757 Ordinary Shares in issue.
Louis Coetzee, CEO of Kibo Mining, said: “This share based payment was requested by the advisor and agreed to by the Company and is a further reaffirmation in the Company and its future potential. We look forward to the coming weeks when further significant project news is expected to be released across the Company’s project portfolio.”
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