Notice of reverse stock split
Luxembourg, August 14, 2013 – Northland Resources S.A. (OSE: NAUR, Frankfurt: NPK, Nasdaq OMX/First North: NAURo – Northland or the "Company") announces reverse stock split.
Reference is made to the resolution passed at the Company's extraordinary general meeting on July 31, 2013, regarding a reverse stock split of the Company's shares by exchanging 100 existing shares for 1 new share.
The last day of trading on an unconsolidated basis will be Friday August 16, 2013. The Company's shares will trade on a consolidated basis reflecting the reverse stock split (100:1) from and including Monday August 19, 2013.
Any fractional interests in shares of the Company as a result of the reverse stock split will be cancelled through a share capital reduction, expected to be implemented on or about August 22, 2013.
Registered shareholders in Canada that hold share certificates will receive a letter of transmittal from the Company's Canadian transfer agent. The letter of transmittal should be completed and returned to the transfer agent along with the old share certificate in order to receive the new share certificate, which will be reflect the reverse stock split.
For further information please contact:
Eva Kaijser, CFO, +46 709 320 901
Jonas Lundström, VP Corporate Communication +46 705 493 338
Petter Brunnberg, Investor Relations: +46 727 24 41 09
Or visit our website: www.northland.eu
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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.
This announcement may include “forward-looking” information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, the completion of the reverse stock split, Northland’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland’s actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland’s results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.