Kinetiko secures AU$6.5 million for completing Afro Energy acquisition

Kinetiko Energy Ltd (ASX: KKO), a company dedicated to developing energy transition solutions in South Africa, primarily focused on advancing shallow conventional gas projects in the Mpumalanga Province, provides the following update regarding its onshore gas exploration and production development initiatives. A strategic South African investment firm recently committed to providing AU$6.5 million in funding (pre-costs).

This funding plays a pivotal role in facilitating the sale of Badimo Gas consideration shares as part of an intended merger and does not lead to any dilution of Kinetiko's ownership. Moreover, this financial commitment paves the way for the finalization of the 100% acquisition of Afro Energy. Talent 10 Holdings (Pty) Ltd (T10), the investing entity, is a South African investment company with key stakeholders consisting of prominent figures in the South African oil and gas sector.

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