29 January 2016
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development Company has today issued 9,000,000 Ordinary Shares (the “Shares”) of €0.015 each in the capital of the Company at a price of 4.7p to Sanderson Capital Partners Limited (“Sanderson”) for a total value of £423,000.
The Shares were issued as re-payment of £300,000 of the £500,000 loan facility provided by Sanderson to the Company on the 4th November 2015 and to cover additional loan related fees and costs under the revised payment terms. As noted in the RNS dated 28 January 2016, the remaining loan balance is £200,000 which is repayable in cash together with fees associated with the loan of £50,000.
Application will be made for the Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Shares is expected to commence on AIM and the JSE on or around 3 February 2016 (“Admission”). On completion of Admission the Company will have 339,928,714 shares in issue.
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