Nordic iron ore announce update on exploration of long-term partnership with cargill, including product development, investment in the blötberget project and product offtake
Nordic Iron Ore (“NIO” or the “Company”) is pleased to announce progress made with respect to the 11 February 2022 Memorandum of Understanding (MOU) with Cargill, Incorporated (“Cargill”) to negotiate a long-term offtake agreement for high grade iron ore concentrate from its Blötberget project located in Dalarna, Sweden as well as setting out the possible terms for Cargill to provide a 50 million SEK investment (‘’Investment’’) into the company as part of a wider capital raise of at least 100 million SEK.The two companies have concluded a process of technical due diligence which will inform