SOTKAMO SILVER SIGNS AN OPTION AGREEMENT TO PURCHASE THE CONCENTRATION PLANT FROM THE BLAIKEN MINE
Sotkamo Silver has signed an option agreement with Lappland Goldminers Sorsele AB in bankruptcy, to acquire the concentration plant with all equipment from Blaiken. The provision for the acquisition is that a legal Due Diligence is positive by June 30th 2015.
Technical Due Diligence has been carried out with positive results. The plant is in good condition and well adapted to Sotkamo Silver's needs. Sotkamo Silver's intention is to move plant and machinery to the Company's Silver Mine project in Sotkamo municipality, Finland.
The transaction consists of the plant, inclusive equipment for ore processing, and removable buildings. A final acquisition expects to reduce the Company's total capital need considerably for construction of the Silver Mine.
"If the legal Due Diligence proves to be positive, the acquisition will be realized and I am convinced that we have managed to negotiate an agreement that is very positive for the Company. The acquisition give us an opportunity to reduce the capital need considerably at the Silver Mine and improve the profitability further,” says CEO Timo Lindborg
Stockholm, 27th May 2015
Sotkamo Silver AB
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 slight differences in the translated versions.
The Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi . For further information please contact Timo Lindborg, CEO on +46-8-304920.
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. 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.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507