Final result of the Rights Issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES (OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to previous stock exchange announcements by Nordic Mining ASA ("Nordic Mining" or the "Company") relating to the rights issue (the "Rights Issue") of up to 25,000,000 new shares with a nominal value of NOK 0.60 each (the "Offer Shares") at a subscription price of NOK 1.40 per Offer Share.

The subscription period for the Rights Issue expired at 16:30 (CEST) on 2 October 2019. At the expiry of the subscription period, the Company had received subscriptions for a total of approximately 37.8 million Offer Shares. The Rights Issue was oversubscribed by approximately 51%.

The Company has today approved the final allocation of Offer Shares in the Rights Issue based on the allocation criteria set out in the Prospectus dated 17 September 2019. A total of approximately 22.3 million Offer Shares have been allocated to subscribers on the basis of exercised subscription rights and approximately 2.7 million Offer Shares have been allocated to holders of subscription rights as a result of oversubscription. No Offer Shares have been allocated to subscribers without subscription rights.

Gross proceeds from the Rights Issue is NOK 35 million and will mainly be used for further development of the Engebø rutile and garnet project towards completion of the definitive feasibility study and into the Front-End Engineering and Design (FEED) phase.

Letters of allocation and notification of the corresponding subscription amount to be paid by each subscriber will be distributed today. Payment for the allocated Offer Shares falls due on Monday 7 October 2019.

The Offer Shares may not be transferred or traded before they are fully paid and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises, expected on or about 14 October 2019. The Offer Shares will be registered with the Company's ISIN NO0010317340 with the VPS and be traded on Oslo Axess under the Company's trading symbol "NOM", expected to occur on or about 15 October 2019.

Following registration of the share capital increase in the Norwegian Register of Business Enterprises, the share capital of Nordic Mining will be NOK 101,275,063.20 divided into 168,791,722 shares, each with a nominal value of NOK 0.60.

SpareBank 1 Markets AS is the manager for the Rights Issue.

For more information please contact Senior advisor Lars K. Grøndahl, telephone +47 90160941.


Oslo, 3 October 2019
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. 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. Nordic Mining also holds 18.5% of the shares in Keliber Oy, which is developing a lithium project in Finland to become the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various stages of development. This includes patented rights for a new technology for production of alumina, and exploration of seabed minerals and high-purity quartz. 

Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".