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Nordic Mines' rights issue fully subscribed
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN,NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR IN ANY JURISDICTION IN WHICH THE DISTRIBUTION OF THIS RELEASE WOULD BE UNLAWFUL.
PRESS RELEASE January 22, 2013
The subscription period for Nordic Mines AB's (publ) ("Nordic Mines" or the "Company") rights issue ended on January 18, 2013. The preliminary result of the rights issue indicates that approximately 252 million shares, representing approximately 98.5 per cent of the shares offered, were subscribed for by the exercise of subscription rights. Additionally, subscription forms corresponding to approximately 94 million shares have been received for subscription without the exercise of subscription rights. Thus the rights issue is fully subscribed. Through the rights issue, Nordic Mines will receive proceeds amounting to approximately SEK 282 million (including set-off amount) before transaction related costs. Payment for a total of 47,250,000 shares, which were subscribed for by the exercise of subscription rights by Property Dynamics AB (owned by the chairman of the Company Lennart Schönning) and Eldorado Gold Cooperatief U.A. were done by way of set-off against existing interest bearing debts. Nordic Mines debt has been reduced by approximately SEK 52 million due to this.
Those who have subscribed for shares without the exercise of subscription rights will be allotted shares in accordance with the principles set forth in the prospectus which was published on December 28, 2012, and those who have been allotted shares are expected to be notified on or around January 29, 2013. Only those who are allotted shares will be notified. Payment for shares subscribed for without the exercise of subscription rights shall be made in cash in accordance with the instructions on the contract note within three banking days from the date when the subscriber was notified of allotment. The final outcome of the rights issue is expected to be announced on or around January 24, 2013.
Through the rights issue Nordic Mines' share capital increases by SEK 255,912,714 to SEK 341,216,952. The number of shares increases by 255,912,714 to 341,216,952.
New shares subscribed for with the exercise of subscription rights are expected to start trading on NASDAQ OMX Stockholm on or around January 30, 2013, and new shares subscribed for without the exercise of subscription rights are expected to start trading on NASDAQ OMX Stockholm on or around February 6, 2013.
For additional information, please contact:
Thomas Cederborg, CEO, +46 708 480 521
Susanne Andersson, CFO, +46 730 668 904
For additional information about Nordic Mines, please visit; www.nordicmines.se
Uppsala, January 22, 2013
Nordic Mines AB (publ)
The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08.00 on January 22, 2012.
Nordic Mines is a Nordic mining and exploration company whose goal is to be one of the leading gold producers in Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and Sweden. Nordic Mines has 120 employees and its head office is in Uppsala. The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.
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