Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Akobo Minerals secures $3m in funding through a convertible loan

    Akobo Minerals secures $3m in funding through a convertible loan

    September 6, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Gold nuggets

    Oslo — Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has issued an unsecured convertible loan (the “Loan”) of NOK 34.4 million (approx. USD three million) from existing investors to fund the final phase of its Segele mining operation in Gambella, Ethiopia. The board of directors and management of Akobo Minerals contributed with NOK 4.7 million of the funds.

    The proposed Loan has a term of two years and an interest rate of 20 % p.a. The Loan may be converted into shares on a quarterly basis or at the maturity date, subject to certain conditions being met.

    If converted, the conversion of the Loan will take place by each lender subscribing for shares through offsetting the Loan amount (including accrued interest) against a conversion price of NOK 7.00 per Akobo Minerals share.

    If the Loan is converted at maturity, the conversion price shall be the lowest of either (1) NOK 7.00 per Share or (2) the volume-weighted average price per Share on Euronext Growth Oslo over the thirty (30) consecutive trading days immediately preceding the Maturity Date with a 10% in discount.

    Related News

    Niger miners say output will continue at nationalised uranium mine

    Nigeria targets 10,000 jobs, skills transfer in $400m minerals processing plant

    West Africa mine operators launch drones to detect wildcat miners

    E-book
    Resilience Exhibition

    Latest News

    Stakeholders raise alarm over dangers of marine debris

    June 27, 2025

    NCDMB pledges oil industry support for Yikodeen safety footwear

    June 27, 2025

    BPSR applauds NIMASA for championing public service reforms

    June 27, 2025

    NCDMB commends Heritage Energy on NOGICD Act implementation, reiterates commitment to HCD

    June 27, 2025

    Oyetola, NIMASA pledge zero tolerance for harassment at sea 

    June 27, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.