Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy PLC has announced the sale of its 19.52% stake in Mast Energy Developments (MED) to RiverFort Global Opportunities, as part of efforts to improve its balance sheet for an upcoming Reverse Takeover (RTO). This transaction will help reduce Kibo’s debt by partially settling an outstanding loan with RiverFort. The deal is expected to result in a loss for Kibo, which will be disclosed in its next published accounts.
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