Preliminary result of Subsequent Offering in Nordic Mining ASA
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. NOT FOR release, PUBLICATION or distribution, in whole or in part directly or indirectly, (I) IN OR INTO THE united states EXCEPT TO (1) Institutional Accredited Investors as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D OF THE U.S. Securities Act of 1933, AS AMENDED (THE "U.S. SECURITIES ACT") AND (2) QUALIFIED INSTITUTIONAL BUYERS AS DEFINED UNDER RULE 144A OF THE U.S. SECURITIES ACT, OR (II) OUTSIDE THE UNITED STATES EXCEPT to non-U.S. persons (as defined in Regulation S under the U.S. Securities Act ("Regulation S")). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to previous stock exchange announcements regarding the Subsequent Offering (the "Subsequent Offering") by Nordic Mining ASA (the "Company") of 3,000,000 new shares with a nominal value of NOK 0.60 each (the "Offer Shares") at a subscription price of NOK 3.20 per Offer Share.
The subscription period for the Subsequent Offering expired on Friday 26 January 2018 at 16:30 hours (CET). Preliminary counting indicates that the Company has received subscriptions for approximately 8,700,000 Offer Shares at the end of the subscription period. The Subsequent Offering has consequently been substantially oversubscribed.
The final result of allocation of the Offer Shares is expected to be published on 30 January 2018. Notices of allocation of Offer Shares and the corresponding subscription amount to be paid by each individual subscriber will be distributed on 30 January 2018. Payment for the Offer Shares is due on 2 February 2018.
The Managers of the Subsequent Offering are Carnegie AS and Swedbank Norge NUF and Kvale Advokatfirma is legal advisor for the Subsequent Offering.
For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 941.
Oslo, 29 January 2018
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.
Nordic Mining is undertaking a large-scale project development at Engebø on the west coast of Norway 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, and a prefeasibility study was completed in October 2017. Nordic Mining's associated company Keliber in Finland is in the process of completing its definitive feasibility study and preparing for production of lithium carbonate. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Norway. Further, the Company holds exploration rights at Reinfjord in northern Norway where a prospective area of sulphide mineralisation has been discovered. Nordic Mining is also exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".