03 March 2016
Share Issue
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company has today elected to activate the loan facility (the “Facility”) recently provided to the Company by Sanderson Capital Partners Limited (“Sanderson”), the details of which were announced on the Company’s RNS of 03 March 2016.
In accordance with the terms of the Facility the Company has today issued 8,186,046 Ordinary Shares (the “Sanderson Shares”) of €0.015 par value each in the capital of the Company to Sanderson. The Sanderson Shares will be issued upon receipt of £300,000 from Sanderson, representing the first drawdown on the Loan Facility of up to £1,500,000 provided by Sanderson to the Company. The Sanderson Shares comprise 7,000,000 shares issued in respect of the arrangement fee for the facility and 1,186,046 shares issued in respect of the first drawdown on the loan. In addition, the Company has also issued 1,950,000 shares to Beaufort Securities Limited (“Beaufort”) in payment of corporate advisory fees of £75,000 due in connection with the negotiation of the facility.
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