On 6 April 2017, Nordic Mining subscribed for shares in accordance with its allocated subscription rights in a repair issue in the associated lithium company Keliber Oy. Keliber’s repair issue closed for subscription on 6 April, and allocation of shares is expected on or about 10 April 2017.
In total 125,000 shares were offered for subscription at a price of EUR 40 per share in Keliber’s repair issue. The repair issue was carried out subsequent of a successful private placement in March. The number of shares offered and the subscription price in the repair issue was the same as in the private placement. The repair issue shares were offered to shareholders who did not participate in the private placement.
In the repair issue, Nordic Mining subscribed 31,338 shares, in accordance with its rights, at a price of EUR 40 per share. Consequently, Nordic Mining expects to be allocated the subscribed number of shares. Nordic Mining’s new shareholding in Keliber will be informed after the board’s approval of the allocation on or about 10 April 2017.
CEO Ivar S. Fossum comments: “Keliber is making very good progress with the definitive feasibility study and other value increasing activities. Lithium demand growth continues on a strong and positive note, and Keliber is in a lead position for the exciting development in the battery value chain and “green” energy solutions in Europe and in the Nordic region.”
For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 91.
Oslo, 7 April 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”.