10 August 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 fifth 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 971,429 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 fifth drawdown on the Facility of up to £1,500,000 provided by Sanderson to the Company and will be issued at a price of 5.25 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 16 August 2016 (“Admission”). On completion of Admission the Company will have 355,603,745 shares in issue.
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