Shumba Energy Raise P14m

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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.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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