CHANGES IN THE CURREN TEKES LOAN AND DEVELOPMENT LOAN OFFER
Tekes - the Finnish Funding Agency for Innovation, have decided to extend the grace period of the current loan of 514 000 EUR (4 972 KSEK) to Sotkamo Silver Oy. The first amortisation is to be done in June 2019 instead of June 2017. Tekes has also changed the terms of the development loan offer of 9.4 MEUR (91 MSEK) that was earlier granted to the Company’s fully owned subsidiary Sotkamo Silver Oy. According to the new terms, the project financing of the Silver Mine shall be secured before December 31st, 2017. The terms have also been amended and the external project financing needed is