PRESS RELEASE Kiruna on
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN
On
“We are happy and proud of the trust we have received from existing and new shareholders. It gives us the opportunities to fully implement our project and business plan for primarily the reopening of the Viscaria mine, which in the near future means focus on environmental permit work, expansion and further definition of our mineral resources, organizational expansion and continued dialogue with local stakeholders", says
The result of Copperstone's rights issue, whose subscription period ran from
Through the rights issue, Copperstone will receive approximately MSEK 160 before deductions for costs related to the rights issue. Through the rights issue, the Company's share capital increases by
Given the high subscription rate, the Company has decided on the previously communicated overallotment issue of approximately MSEK 10.3 with the support of authorization from the Annual General Meeting on
Those who have subscribed for shares without the support of subscription rights will be allotted shares in accordance with the principles stated in the prospectus, meaning that shares subscribed for without the support of subscription rights shall primarily be allotted to the parties who have made binding commitments prior to the announcement of the rights issue to subscribe for shares without the support of subscription rights. Due to the very high subscription rate, only those who have given binding commitments have received allotment. Notification of allotment for such subscription without the support of subscription rights is made through a settlement note which is sent within shortly to the respective subscriber. Payment must be made by instruction on the settlement note. Only those who receive allotment will be notified.
Copperstone intends to use the proceeds from the issue to secure the Company's working capital needs for the next 18-24 months. Furthermore, in connection with the receival of the proceeds from the issue, the Company will prepay the additional purchase price to Sunstone through a cash payment of MSEK 26, which will result in the Group's long-term debt being written down by MSEK 46. As a result of the transaction, Sunstone will have no further claims on Copperstone as the Viscaria acquisition will be paid in full. The company now only has Norrlandsfonden as a long-term debt in the form of convertible debentures with a nominal of MSEK 9.1 at 5 percent annual interest.
Advisors
Financial advisor to Copperstone in connection with the Rights Issue is
For more information, please contact
Chairman of the board
jorgen.olsson@deciso.se
CEO
michael.mattsson@copperstone.se
info@copperstone.se or www.copperstone.se
This press release contains inside information that
ABOUT COPPERSTONE
Copperstone Resources AB is a mineral exploration company formed in 2006. During 2019, the Company acquired Viscaria deposit in Kiruna and accordingly, the Company’s strategy was revised. The goal is to become a modern and responsible producing mining company through the reopening of the Viscaria mine. The deposit’s high level of copper and the geographical location provide for good conditions to become a key supplier of qualitative and responsible produced copper to customers who are driving the global change towards an electrified society. In addition to the Viscaria mine, Copperstone has several Exploitation Concessions and Exploration Permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan), all of which are located in
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions and the recipients of this press release in jurisdictions in which this press release has been released, announced or distributed shall inform themselves of and follow such legal restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Copperstone in any jurisdiction either from Copperstone or from someone else.
This press release is not a prospectus in the meaning of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus, corresponding to an EU Growth Prospectus, have been drawn up by the Company and published on the Company’s website.
This press release does not constitute an offer to, or an invitation to, acquire or subscribe for any shares in Copperstone in any jurisdiction, neither from Copperstone nor from anyone else. This press release may not be announced, published or distributed, directly or indirectly, in or into
No subscription rights, interim shares or shares in Copperstone have been, or will be, registered under the United States Securities Act of 1933 in its current wording (the “Securities Act”) or the securities laws of any state or other jurisdiction in
The securities referred to herein have not been approved or disapproved by the
This press release contains certain forward-looking information that reflects Copperstone’s present view of future events as well as financial and operational development. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “believe”, “estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.
Attachment
- PR20210128
UK
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