Kibo Mining (GB:KIBO) has released an update.
Kibo Energy PLC announces an extensive corporate restructuring initiative, including potential changes to its board and a strategic shift towards a broader energy focus that may incorporate oil and gas opportunities. The company has raised £500,000 through a conditional fundraise and proposes the appointment of new executives, aiming to reduce debt and eventually become debt-free. These developments come as Kibo Energy faces ongoing challenging trading conditions, with a significant portion of its liabilities consisting of deferred salaries and operational costs.
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