Kibo Energy Reports Delay in Carbon Resilience Acquisition, Convertible Loan Note Deals

05:59 AM EST, 12/23/2025 (MT Newswires) -- Kibo Energy (KIBO.L, KBO.JO) said Tuesday that its deal with FA SPC Real Asset Income and Carbon Resilience Pte Ltd. did not take effect after they failed to provide sufficient due diligence documentation within the deadline. Under the sale and purchase agreement, the renewable energy-focused investor agreed to purchase Carbon Resilience from FA SPC Real Asset Income via a reverse takeover process for $135 million, subject to certain conditions, as announced in October. Meanwhile, Kibo said the institutional investor for its convertible loan note has failed to provide the second tranche of funds. The notes were issued to secure up to 150,000 pounds sterling in funding, which it planned to use for working capital purposes and to finance the acquisition's initial costs. As such, Kibo said it will need to secure alternative financing sources for its working capital requirements, while it also evaluates other potential opportunities.