SOTKAMO SILVER HAS RECEIVED THE GRANT OF 2 M€ AS A PART OF THE FINANACING PACKAGE AT THE SILVER MINE
North Ostrobothnia Centre for Economic Development, Transport and Environment (NTM) has decided to issue a state investment and development grant of € 2,000,000 (SEK19.6 million). The investment will be used to construct and develop infrastructure at the open pit, underground-mine and environmental-protection facilities at the Silver Mine. The grant will be received after a separate request, which show the cost incurred during the construction-process and approved according to the grant-decision.
"We are grateful for the grant and support provided by ELY Centre. This grant of EURO 2 million is an important step in the final financing solution of the Silver Mine project.
The Company believes that the remaining part of required capital will be financed through various options, such as debt instruments, 'streaming' financing and vendor financing etc. The ambition is that all building and construction work should be completed by the end of 2017, with the aim to reach full production during the first half of 2018". Says Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, 28th September 2016.
Timo Lindborg, CEO
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act.
The official Stock Exchange Releases are given in Swedish and there may be slight differences in the translated versions.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns, mineral deposits, which contains silver and gold in Finland plus zinc and gold in Norway. The Company’s main development project is the Silver Mine project in the municipality of Sotkamo.
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 ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi