99 PER CENT OF THE WARRANTS WERE EXERCISED FOR SUBSCRIPTION OF NEW SHARES.
Subscription of shares in Sotkamo Silver AB through Teckningsoption 2 (Warrant: SOSI TO2) ended 30 March 2011. 99 per cent of the warrants was exercised for subscription.
- The number of shares increase by 31 179 764 to a total of 259 481 749.
- Gross proceedis13.4 MSEK before transaction costs.
- The company's share capital will hereby increase with 12 471 905,58 SEK to 103 792 700,58 SEK.
Until the registration of the new shares is completed, Sotkamo Intermim Shares (SOSI IA) will be traded.
Sotkamo Silver's main project is Taivaljärvi Silver Mine in Finland, with significant amounts of silver and gold. The funds raised, will be invested in preparatory works, such as core-drilling and pilot-test to complete the planning and Feasibility Study for mining-operations with planed start in 2013.
Stockholm 7th APRIL 2011
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regard to human society and environment. Sotkamo Silver owns, through its subsidiary mineraldeposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The shares are traded at the Burgundy market place and NGM Equity in Stockholm. The ticker symbol is SOSI.
ISIN-code for Sotkamo Silver shares is SE0001057910. ISIN-code for Sotkamo Silver warrants is SE0003299718.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +46-8-30 49 20