Akobo Minerals

AGM Information • Jun 21, 2022

Bulletin from Annual General Meeting of the shareholders in Akobo Minerals

Bulletin from Annual General Meeting of the shareholders in Akobo Minerals

The shareholders of Akobo Minerals AB (publ) ("Akobo" or the "Company") have

held an Annual General Meeting on June 21, 2022 (the "AGM") whereby the

following main decisions were made.

All items on the agenda were approved by the Annual General Meeting as proposed

by the board of directors.

Adoption of annual report

The AGM resolved to approve the income statement and balance sheet in accordance

with the submitted annual report. The funds are disposed of so that SEK

93,489,853 is transferred to a new account. The Board of Directors and the CEO

were granted discharge from liability for the financial year 2021.

Board and auditor elections and fees

In the election of ordinary board members Hans Olav Torsen and Helge Rushfeldt

were re-elected. Carl Eide was elected as a new ordinary Board member. Bjorn

Anders Fossum was elected as a new deputy Board member. At the subsequent

statutory board meeting, Hans Olav Torsen was re-elected Chairman of the Board.

Remuneration to the Board for the period until the next AGM is SEK 175,000 to

each ordinary Board member and the Chairman of the Board shall receive SEK

300,000 in Board fee. Frejs Revisorer AB was elected as the Company's new

auditor with Sébastien Argillet being appointed as the principal auditor. The

auditor shall be remunerated against an approved bill.

Incentive program for certain key executives & Chairman of the Board

The AGM resolved on the adoption of a long-term incentive program for certain

key executives through a directed issue of a maximum of 1,300,000 warrants (free

of charge), entailing an increase of the share capital upon full exercise with a

maximum of approximately SEK 48,308. The right to subscribe for the warrants

shall, with deviation from the shareholders' pre-emptive rights, only vest in

certain key employees in the Company according to the following: Jörgen Evjen

(CEO) a maximum of 400,000 warrants, Johan Sjöberg (Chief Exploration Manager) a

maximum of 200,000 warrants, Matt Jackson (Chief Operations Officer) a maximum

of 200,000 warrants, Tesfaye Medhane (CEO of the subsidiary Etno Mining Ltd) a

maximum of 200,000 warrants, Cathryn MacCallum, (Head of ESG) a maximum 200,000

warrants and Blesilda Bredesen (Group Controller) a maximum 100,000 warrants.

Further, the AGM resolved on the adoption of a long-term incentive program for

the Chairman of the Board through a directed issue of a maximum of 400,000

warrants (free of charge), entailing an increase of the share capital upon full

exercise with a maximum of approximately SEK 14,864. The right to subscribe for

the warrants shall, with deviation from the shareholders' pre-emptive rights

accrue the Company's current Chairman of the Board, Hans Olav Torsen.

One (1) warrant entitles the holder to subscribe for one (1) new share in the

Company at a subscription price corresponding to 100 percent of the volume

-weighted average price for the Company's share according to Euronext Growth

Oslo's official stock price list during ten (10) trading days immediately before

the Company's AGM held 2022-06-21 (to be rounded to two decimal places and

converted to SEK based on the latest SEK / NOK exchange rate one trading day

before the Company's AGM 2022-06-21), but not lower than the share's quota value

(SEK 0.037160 / share). Subscription of shares with the support of warrants may

take place during the period from the day the warrants have been registered with

the Swedish Companies Registration Office up to and including 2026-06-21,

provided that the holder of warrants, at the time when he/she subscribes for

shares with support of warrants, does not have access to inside information as

defined in the Market Abuse Regulation and provided that subscription of shares

does not take place during a "Closed Period" as defined in the Company's Insider

Trading Policy and the Market Abuse Regulation.

Authorizations

The AGM resolved to authorize the Board of Directors to, without deviation from

the shareholders' preferential rights, until the time of the next AGM, on one or

more occasions, decide on a new issue of shares, warrants and / or convertibles.

The Company's share capital and the number of shares may, with the support of

the authorization, be increased by a total of an amount or number that falls

within the limits of the current Articles of Association. The AGM further

resolved to authorize the Board of Directors, with a deviation from the

shareholders' preferential rights, until the time of the next AGM on one or more

occasions, to decide on a new issue of a maximum of 10,628,152 shares, warrants

and / or convertibles.

Other

For more detailed information on the content of the resolutions, please refer to

the notice convening the AGM and the complete proposals that are available on

the Company's website. All decisions were made unanimously. The annual report

for the year 2021 can be requested from the Company and is available at

www.akobominerals.com.

Gothenburg, June 21, 2022

Akobo Minerals AB (publ)

The Board of Directors

For more information, contact:

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail:jorgen@akobominerals.com

LinkedIn:www.linkedin.com/company/akobominerals

Web:https://akobominerals.com

This information is subject to the disclosure requirements pursuant to Euronext

Growth Oslo Rule Book II