The contemplated Private Placement will consist of new class B shares, each with a nominal value of SEK 0.16. The subscription price in the Private Placement will be set through an accelerated bookbuilding process at or close to the closing price 24 March 2011 of the Dannemora share on the First North in Stockholm. Minimum subscription is an amount equivalent to EUR 50,000.

 

The purpose of the Private Placement is to further strengthen the Company's balance sheet and to fulfill the final condition from the bond loan of USD 120 million, which was issued in February 2011.

 

The book-building period will commence today, 24 March 2011 at 17:30 CET and close on 25 March 2011 at 08.30 CET. The Company may, however, at any time resolve to close or extend the bookbuilding period, but will in no event close earlier than 24 March 2011 at 18:30 CET.

 

The subscribers in the private placement will be delivered newly issued class B shares in the company registered in the Norwegian share registry VPS.

 

An application will be made to list the new shares on Oslo Axess, and the listing is expected to take place on or about 7 April 2011.

 

The shares will be tradable as soon as they are delivered and the listing prospectus is approved by the Norwegian Financial Supervisory Authority.

 

The private placement is subject to the approval by the board of directors of Dannemora Mineral. The new shares will be issued pursuant to the authorisation provided to the board of directors at the extraordinary general meeting on 24 February 2011.