Allocation of options to primary insiders
On 1 November 2018, the general meeting of Nordic Mining ASA ("Nordic Mining") resolved an option program for leading employees and qualified resource persons (the “Option Program”).
The following primary insiders in Nordic Mining have today been awarded in total 3 million options pursuant to the Option Program as follows:
|Name||Position||No of options||Shares owned1|
|Ivar S. Fossum||CEO||1,050,000||528,848|
|Birte Norheim||CFO||575,000||29,815 (2)|
|Lars K. Grøndahl||Sr. Advisor||400,000||1,500,000 (3)|
|Mona Schanche||VP Exploration||400,000||34,053|
|Kenneth N. Angedal||Project Manager Engebø||400,000||38,000|
1 Including shares allocated in the recent rights issue
2 The shares are owned through the company Bino Consult AS
3 The shares are owned through the company Magil AS
Each option gives the right to subscribe for one share in Nordic Mining. The subscription price for each share shall be NOK 2.63 (i.e. equal to the 3-day volume weighted average share price of Nordic Mining prior to the award date plus 5 per cent).
The options will be vested and may be used to subscribe for shares in the Company on the terms and conditions set out in the Option Program.
For further information please contact Birte Norheim, CFO, telephone +47 95 29 33 21.
Oslo, 26 November 2018
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA ("Nordic Mining" or "the Company") is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company's project portfolio is of high international standard and holds a significant economic potential. The Company's assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the west coast of Norway where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government. The definitive feasibility study was initiated directly following completion of the prefeasibility study in October 2017. Nordic Mining's associated company Keliber completed the definitive feasibility study for its lithium project in Finland in June 2018. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Norway. Further, the Company holds exploration rights at Reinfjord in northern Norway where a prospective area of sulphide mineralisation has been discovered. Nordic Mining is also exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".