ACCORDING TO PRELIMINARY RESULTS THE PREFERENTIAL SHARE ISSUE HAS BEEN FULLY SUBCRIBED
The recently concluded rights issue was fully subscribed. The Company will receive approximately SEK 186 million through this issue before expenses.
The rights issue was guaranteed up to 70 % by undertakings and by underwriting commitments. 100 % of subscribed shares mean that the guarantees did not have to be utilized.
"This additional equity gives us an opportunity to form a financing package to start construction of the Silver Mine during late 2016" comments CEO Timo Lindborg.
Stockholm Corporate Finance has acted as financial advisor. A1 Advokater and Peltonen LMR Attorneys Ltd have acted as legal advisors.
Stockholm, 1th July 2016.
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns, through its subsidiary mineral deposits, which contains silver and gold in Finland and exploration-potential targets of zinc, lead, copper and gold in Norway. The Company’s main development project is the Silver Mine project in the municipality of Sotkamo.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and mineral reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI at NGM and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares are SE0001057910.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi