Nordic Mines updates on financial situation
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation the Swedish text shall take precedence.
PRESS RELEASE, 7 October 2016
Nordic Mines AB publ ("The Company"), has since the publication of the second
quarterly report received, in addition to the earlier communicated USD 500 000,
an additional share holder loan of USD 250 000. The Company has also been able
to reduce costs, for example in conjunction with the sorting test, and recovered
certain reserved funds. With the cash at hand and planned payments the Company
has liquidity until mid-November.
The Company have been informed from its the major shareholder Lau Su Holding AB
("Majority owner") that they are continuing the split-up of their shareholding
in Nordic Mines amongst the Majority owner's original investors.
The Company has engaged Pareto Securities as financial advisor regarding the
larger financing and the Company continues to evaluate different financing
options where both equity and debt is considered.
For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
For more information about Nordic Mines, please visit; www.nordicmines.com
The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 2:30 p.m. (CET) on October 7, 2016.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer
to www.nordicmines.com
Nordic Mines updates on financial situation:
http://hugin.info/138647/R/2047596/765421.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.10.2016 - 14:30 Uhr
Sprache: Deutsch
News-ID 499414
Anzahl Zeichen: 2683
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Nordic Mines updates on financial situation"
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