Northland to Comment on its Financing Requirement during a Conference Call at 3.30 pm CET
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PRESS RELEASE.
Luxembourg, January 25, 2013 – Northland Resources S.A.(TSX: NAU, OSL: NAUR, Frankfurt: NPK, Nasdaq OMX/First North: NAURo – “Northland” or the “Company”) will comment on its funding requirements during a webcast presentation today, January 25, 2013 at 3:30 pm CET.
On January 24, 2013, Northland announced that the Company has identified an additional financing requirement of USD 425 million, which is required to cover higher than expected capital expenditures and higher initial operating expenditures for the next two years. The Company expects to launch an offering consisting of a combination of new debt and new equity, for total gross proceeds up to USD 375 million. Northland has also signed a term sheet with Stemcor UK Limited (“Stemcor”) for a prepayment facility of up to USD 50 million.
Today, Friday, January 25, 2013, Northland will host a webcast presentation and conference call scheduled to begin at 3.30 pm Central European Time / 9.30 am Eastern Standard Time that will be chaired by Anders Hvide, Executive Chairman and Karl-Axel Waplan, Chief Executive Officer.
The conference call will be web casted at: http://northland.eu/en-us/investor-relations
Please call about five minutes before the advertised starting time to access the conference call.
International Dial-in: +44 (0) 1452 555131
Local UK: 08445718957
Local Sweden:+46 (0) 8 50630 779
President & CEO, Northland Resources S.A.
For more information, please contact:
Karl-Axel Waplan, President and CEO: +46 705 104 239
Peder Zetterberg, Acting CFO, +46 708 652 120
Anders Antonsson, Vice President – Investor Relations: +46 709 994 970
Or visit our website: www.northland.eu
Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study (“DFS”) for its Hannukainen Iron Oxide Copper Gold (“IOCG”) project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.