Option agreement with primary insider

An option agreement has today been awarded to Thomas B. Addison who took up the position as managing director of Nordic Rutile AS on 1 February 2016. Thomas B. Addison is a primary insider in Nordic Mining ASA (“Nordic Mining”). 

Addison has been awarded 2 000 000 options at a price of NOK 0.90 per share. One option can be converted into one share in Nordic Mining. All options are fully vested on award and valid till 18 May 2016. Addison does not own shares in Nordic Mining.

Nordic Mining’s current incentive program for leading employees and qualified resource persons was approved in the General Meeting on 27 May 2014. The Board of Directors was authorised to award options that in total give the right to subscribe for up to 14 million new shares in Nordic Mining. Further, the Board was authorised to determine the subscription price with a minimum subscription price similar to the closing price of the Nordic Mining share on 27 May 2014. The closing price on 27 May 2014 was NOK 0.90 per share.

Subsequent of the new agreement, 12 750 000 options have been awarded to leading employees and resource persons.

For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 941.


Oslo, 18 February 2016
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.