Under the leadership of Chairman Fredrik Zettergren, and in consultation with the company's largest shareholder, Lau Su, the company has negotiated with Firesteel regarding the proposed Joint Venture agreement.
The renegotiation has resulted in a number of changes, including the fact that, in the event of a successful rights issue, the Company will be entitled to invest with Firesteel in Nordic Mines Market, which will change ownership interests in the Company's favor (given that the rights issue provides sufficient capital) and that the board / operating committee in any case until its Firesteel has acquired a majority stake in the Nordic Mines Market, shall consist of equally many members and that decisions shall be taken unanimously.
The renegotiation has been made on the basis of the views expressed by the circle of shareholders, and with present draft agreements, Lau Sus's comments on JV cooperation, as taken directly to Firesteel and to the Board, have been taken into account.
Against this background, the Board is of the opinion that the Firesteel option is what shareholders should primarily take into consideration, especially in view of the fact that Lau Su has not yet provided documentation with evidence that Lau Su will provide bridge financing for the Company despite previous commitments, nor any guarantee that Lau Su will subscribe for an amount of at least US $ 3 million in the rights issue.
För additional information contact:
Company secreterare och Investor Relations
00 46 (0) 70 301 45 46
Lindhagensgatan 94, box 34212
For more information Nordic Mines, besök www.nordicmines.com/ .
Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 5 September 2017.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in Finland produced gold between 2011 and 2014. The deposit is among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share has been admitted for trading on Nasdaq Stockholm's Small Cap list. For further information, see www.nordicmines.com