Nordic Mining ASA: First release of USD 30 million from the Bond Escrow Account completed
Nordic Mining ASA (“Nordic Mining” or the “Company”) is pleased to announce that the Company, through its wholly owned subsidiary Engebø Rutile and Garnet AS (“ERG”), has completed the first release of USD 30 million from the Escrow Account that holds the proceeds from the issuance of the USD 100 million senior secured bond (“Bond”). The release is an important milestone for the Engebø Project as an independent engineer has confirmed that a cost-to-complete test had been satisfied, being a third-party assessment of the Company’s projections that the Engebø Project has sufficient funding