Nordic Mines receives an offer of a fully guaranteed rights issue

Nordic Mines receives an offer of a fully guaranteed rights issue

On 11 may 2017 received the Nordic Mines AB (publ) (“Nordic Mines” or the “Company”) an offer from Lau Su Holding AB (“Lau Su”), the company’s largest shareholder, which holds 21.7% of the ordinary shares in Nordic Mines, on a guaranteed new share issue of aid to the undertaking. The proposal is intended to replace the transaction with Firesteel Resources Inc. (“Firesteel”).

The main conditions in the Lau Sus proposal is:

  • 69,1 million in new share issue

  • Price set at 0,285 $ per share

  • Lau Su bet of 3.0 million USD in new investments

  • The conversion of 1.2 million USD in loans provided earlier by Lau Su, plus interest on the issue price

  • 1.0 million USD, to be made available immediately through a short-term loan to meet Nordic Mines ‘ financing requirements

  • Lau Su will lead a skuldkonsortium to provide at least $ 6 million of debt financing secured against the company’s assets and the exclusive rights to the company’s gold production in 5 years

  • Lau Su will take over control of the company by it after the issue has three of the company’s four board members

The board of directors of Nordic Mines has responded to Lau Su relating to some of the terms and conditions of the proposal and will evaluate it and any adjustments to the proposal.

Nordic Mines has appointed financial advisors to assist the directors to evaluate the proposal and compare it with the proposed transaction with Firesteel, which was announced on april 10, 2017 and which were updated on 9 may 2017. The board of directors will, in good time to make a recommendation to the shareholders. In the meantime, it continues to work with the deal with the Firesteel.

For further information, please contact:

D. Saradhi Rajan, ceo: Tel.: +44 743 271 1564

Ole Eikeland: Tel.: +47 900 60 666

More information about Nordic Mines is available on the website:

This information is such that Nordic Mines AB (publ) shall publish in accordance with the EU marknadsmissbruksförordning. The information was submitted for publication at 12:00 CET on 15 may 2017 via contact PR-agency in accordance with the above.

Nordic Mines is a nordic mining and exploration companies. The laiva mine in Finland, produced gold during the years 2011 to 2014. The deposit is one of the largest in the Nordic region. Nordic Mines is a member of SveMin and applying its reporting rules for public mining and exploration companies. The Nordic Mines share is traded on Nasdaq Stockholm Small Cap list.

See also:


20170515 NOMI Press Release

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