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KIBO MINING PLC - Warrant issue, Warrant Exercise and New Share Issue to Metal Tiger Plc

Release Date: 21/01/2015 10:00
Code(s): KBO     PDF:  
Wrap Text
Warrant issue, Warrant Exercise and New Share Issue to Metal Tiger Plc

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 £300,000 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 £300,000, 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 plc
Chief Executive Officer

Andreas Lianos
+27 (0) 83 4408365
River Group
Corporate Adviser and 
Designated Adviser on JSE

Jon Belliss
Abigail Wayne
+44 (0) 20 3693 1470
Hume Capital 
Securities Plc
Broker

Oliver Morse and 
Trinity McIntyre
+61 8 9480 2500
RFC Ambrian 
Limited
Nominated Adviser on AIM

Daniel Thšle
Lucinda Alderson
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations

Johannesburg
21 January 2015
Corporate and Designated Adviser
River Group



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