Akobo Minerals AB announced a private placement to issue 20% convertible loan for the gross proceeds of NOK 30,000,000 on August 21, 2023. The transaction will include participation from from a group of major shareholders and certain other stakeholders. The loan bears 20% coupon rate and matures 2 years from the date of issuance with conversion price of NOK 7 per share.

The transaction is expected to close the financing by the end of the month.