Nordic Mining’s associated lithium company Keliber Oy (“Keliber”) has successfully concluded a private placement with gross proceeds of EUR 5.0 million. A subsequent repair issue will be carried out in March/April 2017.
Keliber has successfully concluded a private placement with gross proceeds of EUR 5.0 million. The share issue was subscribed by four Finnish investors; i.a. the investment companies Osuuskunta PPO and Jussi Capital Oy. In total, 125,000 new shares have been allocated to the investors in the private placement. Following the private placement Keliber has around 954.000 shares.
The proceeds from the private placement will be used for the ongoing definitive feasibility study (“DFS”), the environmental permitting process related to the future operations, product marketing and commercial arrangements, and other activities in connection with the lithium project. The DFS is scheduled for completion in Q3 2017.
Subsequent of the private placement, Keliber will carry out a repair issue of up to 125,000 shares on the same terms and conditions as for the private placement and with subscription rights for the shareholders prior to the private placement. The subscription period for the repair issue will end 6 April 2017.
The abovementioned share issues were authorised by the general meeting in Keliber on 16 March 2017. The general meeting also resolved to carry out incentive issues for members of the management and the board. In total, 9.720 shares may be issued in connection with incentive schemes in 2017.
For further information please contact CFO Lars K. Grøndahl, telephone +47 901 60 91.
Oslo, 21 March 2017
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company’s project portfolio is of high international standard and holds a significant economic potential. The Company’s assets are in the Nordic region.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking a large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.