SOTKAMO SILVER HAS AGREED WITH EUROMIN ON THEIR SECOND SUBSCRIPTION AND WITH TRAXYS ON A MARKETING AND FINANCING TERM SHEET, TOTAL EURO 19.3 MILLION.
Sotkamo Silver has agreed with Traxys Europe SA on a marketing and a financing agreement that upon completion will provide the full funding of its Silver Mine project up to production, subject to due diligence and negotiation of documentation.At the same time, Mining Associates’ subsidiary EuroMin Limited, has subscribed for 1,351,533 shares as the Second Subscription in Sotkamo Silver AB. Total amount of the financing raised through the Second Subscription of EuroMin and Traxys’ offer is circa Euro 19.3 million.Traxys’ financing will provide up to Euro 16.3 million to the Sotkamo