Kibo Energy raises GBP 350,000 through share placement

▤ Summary

Kibo Energy PLC Galway, Ireland-based company with energy projects in Africa and the UK conditionally raises GBP 350,000 through a placement of 4.17 billion new shares at 0.0084 pence each. The entire investment was made through investor Peter Sion Williams. Kibo specifies that 2.38 billion shares will be settled by shareholders at a general meeting to be held as soon as possible after the settlement of the first tranche.Kibo also says that all creditor conversions are settled in full. These conversions will be made at an issue price of 0.0084 pence. Williams will have the right to appoint a new director to the board after the settlement of the first tranche and to appoint a new director to the board after the second tranche.

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