1 July 2016
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company has today elected to make the fourth drawdown of the loan facility (the “Facility”) provided to the Company by Sanderson Capital Partners Limited (“Sanderson”), the details of which were announced in the Company’s RNS of 03 March 2016.
In accordance with the terms of the Facility the Company has today allotted 1,186,046 Ordinary Shares (the “Shares”) of €0.015 par value each in the capital of the Company to Sanderson. The Shares will be issued as a drawdown fee upon receipt of £300,000 from Sanderson, representing the fourth drawdown on the Facility of up to £1,500,000 provided by Sanderson to the Company and will be issued at a price of 4.3 pence per share.
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 6 July 2016 (“Admission”). On completion of Admission the Company will have 354,632,316 shares in issue.
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