Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy PLC is streamlining its corporate structure, including new board appointments and a revised fundraising strategy, raising £340,000 through a placement of shares. The company is also reconfiguring its debt with the aim of creating a more sustainable financial position, including a significant debt reduction arrangement with RiverFort Global Opportunities. These steps are part of Kibo’s broader strategy to transition into a more diversified energy company, which includes reviewing its project portfolio and considering opportunities in the Oil & Gas Sector.
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