Planned acquisition of TVL Gold progresses
Endomines AB (publ) announces that its planned acquisition of TVL Gold 1 LLC in the USA, as described in the Company’s announcement of November 22, 2017, has today progressed with the payment of the initial purchase price of USD 250,000. The initial purchase price, which grants Endomines exclusivity on the transaction until the end of March 2018, has been funded by a loan, which, as a main alternative, will be repaid in Endomines shares upon the completion of the US transaction. The shares will be issued under the Board’s authorization to issue shares as resolved by the Annual General Meeting held on April 20, 2017, and the price per share in the set-off issue will be SEK 10.10. The number of shares to be issued for the repayment, including set-off in shares of an arrangement fee, is at the current SEK/USD exchange rate approximately 226,000, representing 0.7 per cent of the shares outstanding after the Company’s planned rights issue.
Saila Miettinen-Lähde, CEO, +358 40 548 36 95, firstname.lastname@example.org
This information was submitted for publication through the contact person set out above at 11:30 CET on November 30 2017.
Endomines AB is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo and has exploration activities more broadly along the Karelian Gold Line in Eastern Finland. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.
The Company’s shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).