Akobo Minerals

Share Issue/Capital Change • Nov 1, 2023

Akobo Minerals AB (publ) - Mandatory notification of trade

Akobo Minerals AB (publ) - Mandatory notification of trade

Oslo Norway, 01 November 2023, Akobo Minerals

AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med

ium=Press+Release&utm_campaign=New+OTCQX+Company) (Euronext and Frankfurt:

AKOBO) (OTCQX:AKOBF).

On October 12, 2020, the general meeting of Akobo Minerals AB (publ) decided on

a directed issue of 9,420,000 warrants to senior executives in the group,

entailing a right to subscribe for a total of no more than 942,000 shares during

the period 2020-11-01 - 2023-10-31 at a subscription price of SEK 2.50/share,

after recalculation according to the option terms ("The options"). Previously, a

total of 442,000 shares were subscribed for and issued with the support of the

Warrants.

On 31.10.2023, another 500,000 shares have been subscribed for by the Hans Olav

Torsen (Chairman) with the support of the Warrants at a subscription price of

SEK 2.50/share, which adds SEK 1,250,000 to the company. Through the issue, the

number of shares in the company increases by 500,000 from 52,650,223 to

53,150,223 shares and the share capital increases by SEK 18,580 from SEK

1,956,478.687229 to SEK 1,975,058.687229 (calculated on a quota value of SEK

0.037160 /share).

Primary insider notification pursuant to the market abuse regulation article 19

is attached.

This information is subject to disclosure requirements set out in the Market

Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act

Section 5-12.

For further information, please contact:

Jørgen Evjen, CEO Akobo Minerals

Mob: +47 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

Twitter: @akobominerals

Web: https://akobominerals.com

About Akobo Minerals

Akobo Minerals is a reputable Scandinavian-based gold exploration and boutique

mining company. The company currently holds an extensive exploration license

encompassing 182 square kilometres and a 16 square kilometres mining license,

with an active mining operation in the Gambela region and Dima Woreda, Ethiopia.

Akobo Minerals has emerged as the foremost gold exploration company in Ethiopia,

boasting over 13 years of dedicated on-the-ground experience.

What sets Akobo Minerals apart is its strong commitment to fostering positive

relationships with local communities, extending all the way to national

authorities. This commitment is underscored by the company's unwavering

dedication to environmental and social governance (ESG), as evidenced by their

groundbreaking shared value program.

Akobo Minerals has firmly established its presence in the region by upholding

the principles of ethical conduct, transparency, and open communication. This

foundation positions the company to embrace new opportunities and ventures as

they emerge, making it a key player in the burgeoning Ethiopian mining industry.

Akobo Minerals has charted a clear course for its future growth, with a strategy

centered around amassing a portfolio of valuable gold resources through high

-impact exploration and mining activities, all while maintaining an efficient

and streamlined business operation.

The company is headquartered in Oslo and is publicly listed on the Euronext

Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol

AKOBO. For US investors, Akobo Minerals

AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med

ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTCQX: AKOBF) is traded on

the OTCQX Best Market, adhering to high financial standards, best practice

corporate governance, and compliance with U.S. securities laws. Additionally,

the company has a professional third-party sponsor introduction, and investors

can access current financial disclosures and Real-Time Level 2 quotes for the

company on www.otcmarkets.com.

Akobo Minerals places great emphasis on meeting and exceeding industry

standards, fully complying with all aspects of the JORC code, 2012. For detailed

information on their adherence to this code, please refer to

https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical

practices, community engagement, and environmental responsibility positions them

as a formidable force in the evolving landscape of the Ethiopian mining sector.