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The new issue in Nordic Mines is subscribed to circa SEK 152m


September 1, 2014 - London

Not for distribution, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be unlawful

PRESS RELEASE, September 1, 2014

The English text is an unofficial translation of the Swedish original and in case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail. This is not a legal document

The new issue in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is now subscribed to circa SEK 152m. Thus exists all prerequisites for the refinancing of Nordic Mines to be completed.

"As the new issue is now subscribed to SEK 152m, the last piece is in place to end the company reorganization process that Nordic Mines has been in since July 2013. After the proceeds of the new issue have been paid all conditions fulfills for the write down of debt together with the composition plan in Sweden and Finland and proceeds from the new issue makes Nordic Mines go from threat of bankruptcy to a strengthened cash position. The liquidity increase from the new issue enables, together with the write down of debt of SEK 440m (EUR 48m), that we during winter/spring 2015 look forward to restart the operations of the Laiva mine in a way that provides prerequisites for a significantly better profitability than before", comments Thomas Cederborg, CEO of Nordic Mines.

Nordic Mines' extraordinary general meeting resolved on April 28, 2014 on a new issue of shares with preferential rights for the Company's existing shareholders.

The Company has now received applications for subscription of new shares in the new issue, from private investors as well as several institutional investors, amounting to 5 061 826 243 shares, corresponding to a subscription level of 78% of the total number of offered shares in the new issue with preferential rights. Out of the shares covered by applications for subscription, 2 530 028 031 shares have been applied for subscription with preferential right.

After all shares have been paid, the Company will be provided with circa SEK 152m before transaction costs[1]. The number of shares in the Company will thus be increased by 5 061 826 243 to in total 5 403 043 195 shares and the Company's share capital would be increased by SEK 50 618 262.43 to SEK 391 835 214.43.


Payment

Full payment for shares covered by applications to subscribe shall be made in cash no later than 5 p.m. CET on September 5, 2014. The subscription price is SEK 0.03 per share.

As soon as possible after payment has been made, paid subscribed shares (Sw. Betalda Tecknade Aktier, BTA) will be booked on the respective VP-accounts. Such BTAs will be admitted to trading on NASDAQ OMX Stockholm. The volume weighted average price for the last 30 days for Nordic Mines amounts to SEK 0.14.

As soon as the share capital increase has been registered by the Swedish Companies Registration Office, the BTAs obtained after application for subscription of new shares with preferential right will be converted into new shares.

The new shares received will be admitted to trading on NASDAQ OMX Stockholm.

For additional information, please contact:

Thomas Cederborg, CEO, +46 708 480 521
Jonatan Forsberg, CFO, +46 761 051 310

For more information about Nordic Mines, please visit; www.nordicmines.se

The above information may be information that Nordic Mines AB (publ) is required to disclose under the Securities Market Act and / or the Trading in Financial Instruments. The information was published at 8:00 a.m. CET on 1 September, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europe's leading gold producers and a role model in respecting the environment. The Laiva mine in Finland commenced gold production in late 2011. The discovery is one of the largest in the Nordic countries. Exploration is performed in Finland and Sweden. Nordic Mines was founded in 2005 and has almost 100 employees and is headquartered in Uppsala. Its shares are traded on the Nasdaq OMX Small Cap list. See also www.nordicmines.se



[1] Transaction costs are estimated to SEK 25m

The new issue in Nordic Mines is subscribed to circa SEK 152m



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#1852656

GlobeNewswire

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