Thursday, 28 September 2023 10:17

Akobo Minerals announces the commencement of OTCQX trading

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Akobo Minerals AB (Euronext and Frankfurt: AKOBO) (OTCQX:AKOBF), the Scandinavian-based Ethiopian gold exploration and boutique mining company, has just announced  that its shares will now trade on the OTCQX Best Market under the ticker symbol of AKOBF.

The OTCQX Best Market is the highest market tier of OTC Markets on which 12,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors.  Akobo Minerals' shares will continue to trade on the Euronext Growth in Oslo under the symbol AKOBO, and on the Frankfurt Stock Exchange under the symbol AKOBO.

The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade AKOBF. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies.  To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

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Akobo Minerals has positioned itself as the leading mining and exploration company in Ethiopia – a country with vast untapped resources. In terms of mining, Akobo is nearing the complete construction of the Segele gold mine, a uniquely high-grade asset. In terms of exploration, Akobo has a rapidly expanding portfolio of exploration targets with high grade intersections at depth and at surface. The Segele mine has an Inferred and Indicated Mineral Resource of 68,000 ounces yielding a world-class gold grade of 22.7 g/ton, combined with an estimated all-in sustaining cost (AISC) of USD 243 per ounce. The gold mineralised zone at the Segele Mine continues at depth, this and the exploration targets have good potential to have a positive impact on future resource estimates and mine-life. The company plans a strategic expansion of the exploration licence in order to open a new gold province. 

Jørgen Evjen, CEO of Akobo Minerals, said: “I am pleased to reach the milestone of trading on OTCQX, as this will make it easier for U.S. investors to invest in Akobo. After 13 years of hard work, the timing is right for new investors to invest in this great adventure. We are establishing the first new commercial mine in Ethiopia since 1994, with first pour of gold in sight. And from our exploration work we see the potential in discovering a possible million-ounce deposit. This is just the beginning, and we welcome all new shareholders on board. Ethiopia is going to be the new hot spot for mining in Africa over the next 10 years. We have a head start and are first movers”.

About Akobo Minerals 

Akobo Minerals is a Scandinavian-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and a 16 km 2 mining license with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 13 years of on-the-ground activity. 

Akobo Minerals has an excellent relationship with local communities all the way up to national authorities and we place environment and social governance (ESG) at the heart of our activities – as demonstrated by a planned industry-leading extending shared value program. 

Akobo Minerals has built a strong local foothold based upon the principles of sound ethics, transparency, and communication, and 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.

Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, whilst adhering to a lean business operation.

The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange and Frankfurt Stock Exchange under the ticker symbol, AKOBO.

Akobo Minerals AB (OTCQX: AKOBF) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

Akobo Minerals fully meets and complies with all parts of the JORC code, 2012. For further information, see https://www.jorc.org/ 

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB®Venture Market and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

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