Akobo Minerals announces minor adjustment to convertible loan amount

13 Nov 2024 16:34 CET

OSLO, 13 November 2024: With reference to the press release issued on 05
November 2024 regarding the issuance of a NOK 25.3 million unsecured convertible
loan, Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO) (the "Company")
announces a minor adjustment to the total loan amount where an additional NOK
200,000 has been added to the loan. As a result, the total convertible loan now
stands at NOK 25.5 million. The terms and conditions of the loan, including
interest rate, conversion options, and maturity, remain unchanged as previously
communicated.

For further information, please refer to the original press release dated 05
November 2024.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.This information is considered to be
inside information pursuant to the EU Market Abuse Regulation and was published
by Jørgen Evjen, CEO, on the date and time provided herein.

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
www.akobominerals.com

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold exploration and mining company,
currently holding an exploration license covering 182 km2 and a mining license
covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. With over 14
years of active operations on the ground, the company has established a strong
foothold in Ethiopian gold exploration, now further strengthened with the
startup of its Segele mine.

Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of
68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized
zone remains open at depth, supporting future resource estimates and extending
the mine's life. The exploration license holds numerous promising exploration
resource-building prospects in both the vicinity of Segele and in the wider
license area.

Akobo Minerals maintains strong relationships with local communities and
government authorities, placing ESG principles at the core of its operations.
The company's commitment to sound ethics, transparency, and stakeholder
engagement is evident through its industry-leading extended shared value
program.

Akobo Minerals is ready to take on new opportunities and ventures as they arise.
The company is uniquely positioned to become a major player in the future
development of the very promising Ethiopian mining industry.

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_me
d
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.

Important informationThis release is not for publication or distribution,
directly or indirectly, in or into Australia, Canada, Japan, the United States
or any other jurisdictions where it would be illegal. It is issued for
information purposes only and does not constitute or form part of any offer or
solicitation to purchase or subscribe for securities, in the United States or in
any other jurisdiction. Thesecurities referred to herein have not been, and will
not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the United States absent
registration or pursuant to an exemption from registration under the U.S.
Securities Act. Akobo Minerals does not intend to register any portion of the
offering of the securities in the United States or to conduct a public offering
of the securities in the UnitedStates. Copies of this publication are not being,
and may not be, distributed or sent into Australia, Canada, Japan or the United
States.

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