Akobo Minerals secures first phase of the Segele project financing
Akobo Minerals AB (publ) (“Akobo Minerals” or the “Company”) is pleased to announce that is has 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 (the “Project”). The remaining USD 7 million for the final phase of the Project is contemplated to be financed by additional debt and/or equity. Akobo Minerals is currently progressing its assessment of several financing alternatives. “This convertible loan provides us with sufficient flexibility to explore the optimal