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Nordic Mines conducts a directed share issue of SEK 92.4 million

Friday, November 26th, 2010

The Board of Directors of Nordic Mines has decided on a directed share issue of 2,400,000 shares, representing approximately 7 percent of the total number of shares in the company after the issue, to approximately forty investors. The share issue is oversubscribed three times and the subscription price is set to SEK 38.5 per share. The directed share issue is expected to raise proceeds of approximately SEK 92.4 million before transaction costs. The share issue is primarily directed to a number of institutional investors in the Nordic region.
The proceeds from the directed share issue will be used to finance further exploration in Laiva with surrounding areas as well as the company’s other gold projects and to finance Nordic Mines’ EUR 4 million share of the total project buffer of EUR 10 million.
The Board of Directors has resolved on the directed share issue in accordance with the authorisation from the Annual General Meeting held on 4 May, 2010. After the directed share issue, the number of shares will amount to 34,921,647 shares and share capital to SEK 34,921,647 million.
Carnegie Investment Bank is acting as financial advisor to Nordic Mines in connection with the transaction.

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