GRANGEX enters into an extension agreement for the Sydvaranger mine acquisition

On 30 November 2023, GRANGEX AB (publ) (“Grangex”)announced that it had executed a conditional sale and purchase agreement (“SPA”) with OMF Fund II H Ltd (“Orion”) for the acquisition of 100% of the share capital and shareholder loans of Sydvaranger Mining AS (“Sydvaranger”). Sydvaranger owns an iron ore mine in Kirkenes, Northern Norway, where Grangex aims to restart production of ultra-high-grade magnetite concentrate in line with is sustainable mining strategy.

Further to that announcement, the Company is today pleased to announce that it has entered into an extension agreement with Orion whereby the Long Stop Date (the date by which the acquisition has to be completed) has been extended to 1 May 2024.

The Company will publish further updates as and when appropriate.

Contact person

Christer Lindqvist, Chief Executive Officer, phone +46 70 591 04 83.

This is information that GRANGEX AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:00 CET on April 08 2024.

About GRANGEX AB (publ)
GRANGEX is a Swedish mineral development company with the vision to actively contribute to a sustainable society within Europe. The Company, together with its group companies, strives to become the leading mineral development group in Europe that develops and conducts responsible extraction and recycling of minerals, primarily iron ore products and other critical minerals for the green transition with minimal climate impact.
The company's share (short name GRANGX) is traded on NGM Nordic SME.
ISIN: SE0018014243
FISN: GRANGEX/SHInstrument-ID: 9XX
Legal Entity Identifier (LEI) number: 549300MZ7HL7X6AXMC13.
For more information www.grangex.se/