EXTENSION OF TRAXYS’ EXCLUSIVITY THAT WILL FULLY FINANCE SOTKAMO SILVER´S MINE PROJECT
Sotkamo Silver and Traxys Europe have agreed to extend the period of exclusivity until April 21st, 2017, which Sotkamo may extend by one week, to allow Traxys to complete its due diligenc process to a favourable conclusion.
Thereafter an extension of exclusivity for no more than another month will be given to Traxys´ to give the possibility to complete on definitive binding agreements and consummate the Financing transaction and the Marketing- and Sales Agreement. Traxys have confirmed in writing that they remain very interested in the Sotkamo project and intend to bring the approval process to a favourable conclusion as soon as practical.
"Both Traxys and Sotkamo Silver are looking forward to conclude a mutual acceptable transaction as soon as possible. “comments by Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, 3th April 2017
Timo Lindborg, CEO
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc 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 ore 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 in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
The Traxys Group, headquartered in Luxembourg, is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management and trading activities are conducted by over 300 employees, in over 20 offices worldwide, and its annual turnover is in excess of $6 billion. Traxys’ focus is primarily on the marketing and sourcing of base metals and concentrates, minor and alloying metals, industrial minerals and chemicals, and materials for steel mills and foundries, and the management of all parts of the supply chain, from producer to consumer, worldwide .
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi .
For further information please contact Timo Lindborg, CEO on +46-8-304920.