Tue, 16 Jul 2019 18:28:41 +0200
Nordic Iron Ore raises loans of SEK 5 million
Nordic Iron Ore AB (the "Company") has decided to raise a loan of SEK 5 million, which adds additional working capital to the Company. With the capital increase, the Company gets the sufficient resources to efficiently analyze the results of the ongoing feasibility study for the restart of the mine in Blötberget. As previously announced, the study will be reported later in the current quarter.
Summary of terms:
- Loan agreements totaling SEK 5 million have been signed with three professional investors.
- The loan has an annual interest rate of 12 percent.- The loan runs until December 31, 2019.
- If the Company carries out an issue during the term, all or part of the loan amount may be offset at the same subscription price as in the offer in question.
Overall, the Board has made the assessment that the terms of the loan are market-based.
Augment Partners has acted as financial advisor.
For further information please contact:
Lennart Eliasson Managing Director
phone: +46 70 640 5177
Nordic Iron Ore Group is a mining company with the ambition to revive and develop the iron ore production of Ludvika Mines in Blötberget and Håksberg. The company also intends to expand its mineral resources, and upgrade them to ore reserves, primarily through exploration and other studies of the connecting Väsman field. The Company has all the necessary permits in place for the mine in Blötberget and will be able to produce iron ore of extremely high quality.
For more information, see www.nordicironore.se.
Nordic Iron Ore’s shares and warrants are listed at Nasdaq First North Stockholm. Wildeco is the company’s Certified Adviser.
This information is required and provided by Nordic Iron Ore AB (publ) under the EU Market Abuse Regulation. The information was provided by Cision for publication at the date and time set above.Release