VANCOUVER, BC, Dec. 2, 2024 /CNW/ - First Nordic Metals Corp. (the "Company" or "FNM") (TSX.V: FNM) (OTCQB: FNMCF) (Germany: HEG0) is excited to announce that it has initiated the process of applying for a secondary listing of Swedish depository receipts ("SDRs"), a financial instrument issued by a Swedish bank representing shares in a non-Swedish company, on Nasdaq First North Growth Market ("Nasdaq First North") in Sweden. The completion of the listing is contingent upon obtaining approval from Nasdaq Stockholm but FNM's objective is to complete the listing and start trading on Nasdaq First North during the first quarter of 2025.
First Nordic Metals Corp. (CNW Group/First Nordic Metals Corp.)
The decision to pursue a secondary listing on Nasdaq First North reflects FNM's commitment to enhancing its presence in Sweden, a key part of the Company's strategy moving forward. Recent additions to FNM's board of directors and management team have brought significant technical expertise to its key assets in Sweden, bolstered operational efficiencies and expanded the Company's in-country presence; all of which will be instrumental for FNM as it advances its Gold Line ("Gold Line") Belt projects in northern Sweden, including the Barsele Project in joint venture with Agnico Eagle Mines Limited. The secondary listing will enable Swedish investors to participate in First Nordic's growth more directly and it increases the Company's exposure to analysts, institutional investors, and other stakeholders in the region.
In preparation of the secondary listing on Nasdaq First North, the Company intends to facilitate the conversion of common shares of First Nordic to SDRs in Sweden, where a notice to shareholders who seek to convert shares will be issued in a separate news release closer to the first day of trading.
Taj Singh, FNM President and CEO comments: "The FNM story has been very well received since our merger was completed in early 2024. Listing our shares for trading on the Nasdaq First North will bring new local shareholders in Sweden to invest in Sweden's largest undeveloped gold project, the Barsele Project ("Barsele"), as well as ~100 kilometers of the Gold Line surrounding Barsele, hosting a growing number of drill-ready mine-scale targets. Barsele is a critical asset that could create thousands of jobs and leverage the incredibly efficient "green energy" of northern Sweden, and the Gold Line targets further provide FNM with world-class district-scale potential."
Augment Partners AB has been appointed as the Company's Certified Adviser in connection with the listing process.
ABOUT NASDAQ FIRST NORTH Nasdaq First North is a marketplace for growth companies with strong investor demand, both among retail and institutional investors. As one of the most liquid and efficient cash equities markets in Europe, Nasdaq First North is currently home to more than 550 traded growth companies. On average, more than five companies grow and transfer to the Main Market each year.
ABOUT FIRST NORDIC METALS The Company's flagship asset is the Barsele gold project, located in northern Sweden and in a joint venture with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is the 100%-owner of a district-scale license position of close to 100,000 hectares on Gold Line Belt. Additionally, in northern Finland FNM is the 100%-owner of a district-scale position covering the entire Oijärvi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS Taj Singh, M.Eng, P.Eng, CPA President & CEO, Director
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Forward-looking Statements This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or that the assumptions on which it is based are correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the date of this press release and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
