Assignment of advisor to explore strategic/financial options
Nordic Mining has assigned Swedbank Norway as financial advisor to assist in exploring alternatives with regards to potential financial or strategic investors and/or partners and to carry out a review of strategic alternatives.
CEO Ivar S. Fossum comments: “Nordic Mining’s Engebø project is a world-class rutile deposit. After receiving the support of the Norwegian government as well as the required permits in April 2015, we look forward to progressing the project. In that respect, the initiation of a review of financing and strategic alternatives will allow us to explore various options with the aim of unlocking values of the company’s underlying assets for the benefit of our shareholders.”
There is no assurance that the aforementioned will result in a transaction. Nordic Mining does not expect to update the market with any further information on this process unless and until its Board of Directors has approved a specific transaction or otherwise deemed disclosure appropriate or necessary.
For further information please contact CFO Lars K. Grøndahl, Nordic Mining on telephone +47-90160941, or Ove Gusevik, Head of Corporate Finance, Swedbank on telephone +47 23238039 / +47 91555062 (or email ove.gusevik@swedbank.no).
Oslo, 14 August 2015
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.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking large-scale project development at Engebø in Sogn and Fjordane where the Company has rights to a substantial eclogite deposit with rutile and garnet. Permits for the project were granted by the Norwegian government in April 2015. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess.