The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation the Swedish text shall take precedence.
PRESS RELEASE 14 DECEMBER 2015
With the conclusion of Nordic Mines AB`s (publ) ("Nordic Mines" or "the Company") rights issue for existing shareholders Nordic Mines has gained a new main owner - Lau Su Holding AB ("the Main Owner"), which now owns 61.5 per cent of the shares in the Company. The Main Owner is controlled by a number of investors with a background within mining, finance and investments.
The Main Owner has informed the Company their intention to work out a roadmap for creating significant long-term value including operating Nordic Mines at globally competitive costs.
The Main Owner has further informed the Company that their investment case is built upon:
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Unlocking hidden value in the processing plant to become world class
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Bringing operational efficiency to the mining operations
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Ensuring financial discipline and ending Nordic Mines composition plan in the Finnish subsidiary
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Consolidating and integrating the Nordic gold mining industry
On the request from the Main Owner the Board of Directors of Nordic Mines now calls for an Extra General Meeting (the "EGM") to among other things elect a new Board of Directors reflecting the new ownership structure of the Company. The Main Owner has also given notice that their requirements for a newly elected Board of Directors is to develop a new strategy for Nordic Mines going forward.
The EGM is to be held in Stockholm on 7 January 2016. The final proposal for a new Board of Directors will be presented in due time before the EGM.
Stockholm, 14 december 2015
Nordic Mines AB (publ)
For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10
The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 14 December 2015 at 8:30 a.m.
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. Also refer to www.nordicmines.se.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
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