SOTKAMO SILVER AND TRAXYS HAS AGREED TO EXTEND TRAXYS’ PERIOD OF EXCLUSIVITY.
Regarding to the previously announced agreement between Sotkamo Silver and Traxys Europe SA on a marketing and a financing agreement for the Company’s Sotkamo Silver Oy project, Traxys has engaged its consultants to conduct a very detailed technical due diligence process.
Given the significant progress made thus far on their due diligence, Traxys has requested the Company for an extension, and the Company has agreed to extend Traxys’ period of exclusivity until March 31th, 2017, to allow Traxys to complete its due diligence and the parties to finalize negotiation of documentation. “.
Stockholm, 13th March 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.
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 .
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 SE000837388.
The Warrant gives the right to subscribe for one (1) share at 4 SEK in August 2017.
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93.
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.