Increase in share capital for settlement of convertible loan through a directed share issue
Oslo, 3 July 2023: Reference is made to the stock exchange announcement made by Akobo Minerals AB (the "Company" or "Akobo") on 5 July 2022 where the Company announced that it had secured a convertible loan of NOK 49.175 million (around USD 5 million equivalent) to fund the first phase of the Segele boutique mining operation in Gambella, Ethiopia. According to the stock exchange announcement as contained therein, the convertible loan was structured as a short term-loan, maturing 12 months after the date of disbursement. According to the loan agreement, the loan shall be settled by