Kibo Mining Plc Warrant issue, Warrant Exercise & New Share Issue (7185C)
January 21 2015 - 3:00AM
UK Regulatory
TIDMKIBO
RNS Number : 7185C
Kibo Mining Plc
21 January 2015
Kibo Mining Plc (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited:KBO
Share code on the AIM: KIBO
ISIN: IE00B61XQX41
("Kibo" or "the Company")
Dated: 21 January 2015
Warrant issue, Warrant Exercise and New Share Issue to Metal
Tiger Plc
On the 14 January 2015, Kibo Mining Plc ("Kibo" or the
"Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral
exploration and development company, announced that it was
proceeding to complete its Joint Venture (the "Completion") on
Kibo's uranium-prospective portfolio in Tanzania ("Pinewood
Portfolio") with Metal Tiger Plc ("Metal Tiger") under the terms of
a memorandum of understanding signed on the 21 November 2014("the
MOU").
Under the terms of the Completion and pursuant to the terms of
the MOU, Kibo is pleased to announce it has now issued Metal Tiger
with 10 million warrants for 10 million new ordinary shares in Kibo
with an exercise price of 3p each and a term of 3 years effective
from the 19 January 2015. Kibo has also received a formal exercise
notice document from Metal Tiger to convert the warrants to
ordinary shares (the "Warrant Shares") and payment of GBP300,000 in
consideration for the Warrant Shares which the Company has today
issued to Metal Tiger.
Application will be made for the Warrant Shares to be admitted
to trading on AIM and the JSE AltX markets. Trading in the Warrant
Shares is expected to commence on AIM and the JSE on or around 26
January 2015 ("Admission"). On Admission, the Company will have
284,238,757 Ordinary Shares in issue and 1,406,892 options &
warrants outstanding. Following Admission Metal Tiger will be a
significant shareholder in the Company with greater than a 3%
interest.
Louis Coetzee, CEO of Kibo Mining, said: "We are pleased to see
the immediate conversion of the Metal Tiger Warrants and have
immediate receipt of the GBP300,000, due in respect of the warrant
conversion. This amount provides a material boost to the company's
cash reserves and will assist with general working capital and
costs related to third party discussions and negotiations we are
finalising with regard to our key assets."
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining Chief Executive Officer
plc
------------------ ------------------- ---------------- ------------------------
Andreas Lianos +27 (0) 83 4408365 River Group Corporate Adviser
and Designated Adviser
on JSE
------------------ ------------------- ---------------- ------------------------
Jon Belliss +44 (0) 20 3693 Hume Capital Broker
Abigail Wayne 1470 Securities
Plc
------------------ ------------------- ---------------- ------------------------
Oliver Morse +61 8 9480 2500 RFC Ambrian Nominated Adviser
and Trinity Limited on AIM
McIntyre
------------------ ------------------- ---------------- ------------------------
Daniel Thöle +44 (0) 203 772 Bell Pottinger Investor and Media
Lucinda Alderson 2500 Relations
------------------ ------------------- ---------------- ------------------------
Johannesburg
21 January 2015
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
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