Shumba Energy Raise P14m

Monday, October 17, 2016

Shumba Energy has informed shareholders that pursuant to the binding sale and purchase agreement entered into with Daheng Group for the acquisition of Mabesekwa Prospecting Licence, the second payment is now due for settlement.

The settlement would either be the sum of $2 million payable in cash or failing which shares in the company worth $3,3 million will be issued.

In a statement, Shumba said it has raised P14 million ($1.3 million) through the issuance of a convertible loan notes via private placement to contribute to the settlement of the second payment due to Daheng.

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Shumba Energy Raise P14m

Shumba Energy has informed shareholders that pursuant to the binding sale and purchase agreement entered into with Daheng Group for the acquisition of Mabesekwa Prospecting Licence, the second payment is now due for settlement.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply