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Press Releases

2017

21 June 2017. Nordic Mines AB (publ) summons for Extraordinary General Meeting to decide on joint venture with Firesteel Resources Inc. according to details previously released pdf-file >

20 June 2017. Nordic Mines AB (publ) notifies on supplementary information to notice on Annual General Meeting June 30, 2017 pdf-file >>

16 June 2017Nordic Mines AB (publ) and Firesteel Resources Inc. agree to a revision of previously announced agreement pdf-file >>

8 June 2017Nordic Mines signs Joint Venture Memorandum of Understanding with Firesteel pdf-file >>

8 June 2017. Nordic Mines makes amendments to Board Announcements & changes to Group Management pdf-file >>

5 June 2017. Press release regarding notification from Nasdaq Stockholm pdf-file >>

1 June 2017. Notice of the Annual General Meeting of Nordic Mines AB (publ) pdf-file >>

23 May 2017. Nordic Mines AB (publ) First Quarter Report pdf-file>

15 May 2017. Nordic Mines receives an offer to underwrite a rights issue pdf-file>

11 May 2017. Approval to process third party ores pdf-file>

10 May 2017. Notice of Shareholder Meeting pdf-file>

09 May 2017. Nordic Mines Market Update pdf-file >

28 April 2017. Nomination Committee of Nordic Mines pdf-file >

28 April 2017. Nordic Mines AB (publ) publishes its 2016 Annual Report pdf-file >

20 April 2017. Management changes in Nordic Mines pdf-file >

10 April 2017. Nordic Mines Announces Transformational Transaction to Bring Laiva Back into Production pdf-file >

15 March 2017. Notice of EGM in Nordic Mines AB (publ) pdf-file >

15 March 2017. Nordic Mines resolves on Rights Issue of SEK 51 million and directed new issue pdf-file >

1 March 2017. Year-End Report 2016 with editorial changes pdf-file >

28 February 2017. Year-End Report 2016 pdf-file >

17 February 2017. Clarification regarding the date for the quarterly financial report for the fourth quarter 2016 pdf-file >

18 January 2017. Resignation of Mr Pranay Panda as a director of the board of Nordic Mines AB (publ) pdf-file >

18 January 2017. Nordic Mines AB (publ) appoints Evli Bank plc to lead a rights issue pdf-file >

9 January 2017. Cancellation of Extraordinary General Meeting pdf-file >


2016

21 December 2016. Encouraging Assay Results from sorting test work pdf-file >

30 November 2016. Notice of extraordinary general meeting pdf-file >

30 November 2016. Financial remodelling with the aim to restart the mine 2017, introduces a new share class and conducts directed new share issues of SEK 23 million pdf-file >

30 November 2016. Interim report third quarter 2016 pdf-file >

25 November 2016. Relase date of interim report third quarter 2016 pdf-file >

16 November 2016. Relase date of interim report third quarter 2016 pdf-file >

27 October 2016. Management changes in Nordic Mines pdf-file >

25 October 2016. Management changes in Nordic Mines pdf-file >

19 October 2016. Nordic Mines appoints Mr. Ola Wahlquist as Sr. Advisor pdf-file >

7 October 2016. Nordic Mines updates on financial situation pdf-file >

26 September 2016. Encouraging early results from sorting test work pdf-file >>

18 August 2016. Interim report second quarter 2016 pdf-file >>

18 August 2016. Short term financing pdf-file >>

4 August 2016. Nordic Mines share being put on observation status pdf-file >>

28 July 2016. The Disciplinary Committee of Nasdaq imposes a fine on Nordic Mines pdf-file >>

14 July 2016. Nordic Mines hires Lars Vilhelmson as CFO-consultant and Joakim Kindahl as IR-consultant pdf-file >>

30 June 2016. Bulletin from Nordic Mines’ Annual General Meeting 2016 pdf-file >>

27 June 2016. Proposal for Board of Directors in Nordic Mines pdf-file >>

31 May 2016. Notice of the Annual General Meeting of Nordic Mines AB (publ) pdf-file >>

31 May 2016. Changes in ownership within Nordic Mines’ majority owner Lau Su Holding AB pdf-file >>

25 May 2016. Laiva Scoping Level Preliminary Economic Assessment May, 2016 pdf-file >>

17 May 2016. Nordic Mines informs pdf-file >>

17 May 2016. Nordic Mines reports an updated Mineral Resource pdf-file >>

12 May 2016. Annual report 2015 (in Swedish) pdf-file >>

12 May 2016. Interim report first quarter 2016 pdf-file >>

25 February 2016. Year-end report 2015 pdf-file >>

19 February 2016. Nomination Committee of Nordic Mines pdf-file >>

3 February 2016. Changes in Nordic Mines' Management pdf-file >>

13 January 2016. The Swedish Securities Council issues a statement with respect to Nordic Mines pdf-file >>

7 January 2016. Statement from Nordic Mines’ Extra General Meeting pdf-file >>

5 January 2016. Proposal for a new Board of Directors in Nordic Mines pdf-file >>


2015

30 December 2015. Publication of changes in the total number of shares and votes in Nordic Mines pdf-file >>

14 December 2015. Nordic Mines’ observation status on Nasdaq now removed pdf-file >>

14 December 2015. Nordic Mines calls for an Extra General Meeting to elect a new Board of Directors pdf-file >>

14 December 2015. Nordic Mines completes the repurchase of outstanding bank debt pdf-file >>

1 December 2015. Nordic Mines’ proceeds of rights issue received pdf-file >>

1 December 2015. Nordic Mines informs on payment in the Company’s ongoing rights issue pdf-file >>

18 November 2015. Nordic Mines’ share receives observation status pdf-file >>

16 November 2015. Publication of a third supplementary prospectus relating to Nordic Mines’ rights issue pdf-file >>

13 November 2015. Nordic Mines receives around SEK 80 million from the new share issue and receives a new industrial main owner pdf-file >>

9 November 2015. Publication of a second supplementary prospectus relating to Nordic Mines’ rights issue pdf-file >>

9 November 2015. Nordic Mines’ agreement with the banks finalized pdf-file >>

2 November 2015. Nordic Mines Publication of supplementary prospectus pdf-file >>

30 October 2015. Nordic Mines AB (publ) Interim report January - September 2015 pdf-file >>

29 October 2015. The Board of Directors and the CEO of Nordic Mines subscribe for shares in the rights issue pdf-file >>

23 October 2015. Publication of Prospectus pdf-file >>

21 October 2015. Communiqué Nordic Mines’ EGM 2015 pdf-file >>

21 October 2015. Nordic Mines announces pdf-file >>

19 October 2015. Timetable Nordic Mines’ rights issue pdf-file >>

16 October 2015. Final conditions rights issue pdf-file >>

30 September 2015. Publication of changes in the total number of shares and votes in Nordic Mines pdf-file >>

21 September 2015. Nordic Mines has reached an agreement in principle with the Company's lenders regarding the repurchase of outstanding debt pdf-file >>

31 August 2015. Publication of changes in the total number of shares and votes in Nordic Mines pdf-file >>

31 August 2015. Nordic Mines consolidates its shares pdf-file >>

13 August 2015. Nordic Mines AB (publ) Interim report January - June 2015 pdf-file >>

13 August 2015. Nordic Mines AB announces Changes at the Laiva Mine pdf-file >>

30 June 2015. Communiqué Nordic Mines’ AGM 2015 pdf-file >>

25 June 2015. Nordic Mines holds start of production at Laiva mine and withdraws proposed share issue pdf-file >>

29 May 2015. Business plan and funding pdf-file >>

28 May 2015. Nomination Committee proposal for a new Board of Directors pdf-file >>

26 May 2015. Annual report and financing pdf-file >>

4 Maj 2015. Eva Kaijser new CEO Nordic Mines pdf-file >>

30 April 2015. Nordic Mines AB (publ) Interim Report January - March 2015 pdf-file >>

26 March 2015. Nordic Mines informs about the ongoing work with the updated business plan for the Laiva mine pdf-file >>

4 March 2015. Nomination committee of Nordic Mines pdf-file >>

26 February 2015. Nordic Mines reports an updates Mineral Reserve corresponding to five years of gold production pdf-file>>

19 February 2015. Nordic Mines AB (publ) Year-end report 2014 pdf-file >>


2014

19 December 2014. Information from Nordic Mines about the work on the company´s updated action plan pdf-file>>

7 November 2014. Nordic Mines AB (publ) Interim report Janyary - September 2014 pdf-file>>

21 October 2014. Nordic Mines publishes Company Update pdf-file >>

14 October 2014. Nordic Mines invites to Capital Market Presentation pdf-file >>

10 September 2014. Nordic Mines' proceeds of rights issue recieved pdf-file >> 

1 September 2014. Publication of a second supplementary prospectus relating to Nordic Mines rights issue pdf-file >>

22 August 2014. Nordic Mines informs about the ongoing capital raise. The efforts to provide the company with at least SEK 150m to fund a restart of the Laiva mine continues pdf-file >>

14 August 2014. Publication of supplementary prospectus relating to Nordic Mines rights issue pdf-file >>

14 August 2014. Final contract documentation between Nordic Mines and the Company's lenders now signed pdf-file >>

13 August 2014. Clarification regarding trade in Nordic Mines´paid subscriber shares (BTA) pdf-file >>

11 August 2014. Nordic Mines has reachen an agreement in principle with the Company´s lenders pdf-file >>

7 August 2014. Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and in Finland pdf-file >>

6 August 2014. Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and in Finland pdf-file >>

4 August 2014. The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 7 days until and including August 15, 2014 pdf-file >>

31 July 2014. Nordic Mines informs on the ongoing corporate reorganisation procedures in Finland and in Sweden pdf-file >>

25 July 2014. The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 7 days until and including August 8, 2014 pdf-file >>

17 July 2014. Nordic Mines postpones the financial report for the seqond quarter, 2014 pdf-file >>

10 July 2014. Nordic Mines´production report for the second quarter 2014 pdf-file >>

8 July 2014. Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and Finland pdf-file >>

4 July 2014. The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 21 days until and including August 1, 2014 pdf-file >>

27 June 2014. Communique from Nordic Mines´Annual General Meeting pdf-file >>

27 June 2014. Nordic Mines informs on the ongoing corporate reorganisations in Sweden and Finland and the discussions with the Company's lenders pdf-file >>

26 June 2014. The Nomination Committe´s proposal to the Annual General Meeting of Nordic Mines pdf-file >>

5 June 2014. The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 29 days until and including July 11, 2014 pdf-file >>

5 June 2014. Nordic Mines presents a preliminary agreement with the Company's creditors pdf-file >>

2 June 2014. Corporate reorganization to continue within Nordic Mines pdf-file >>

27 May 2014. Invitation to Annual General Meeting Nordic Mines AB (publ) June 27:th 2014 pdf - file >>

14 May 2014. The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with three weeks until June 12, 2014 pdf-file >>

7 May 2014. Publication of prospectus relating to Nordic Mines AB (publ) rights issue pdf - file >>

28 April 2014. Nordic Mines AB (publ) Communiqué from Extraordinary general meetings pdf-file >>

28 April 2014. Nordic Mines AB (publ) presents a preliminary financing solution and resolves on terms of share issues pdf - file >>

23 April 2014.  NORDIC MINES AB (publ) Interim report January - March 2014 pdf-file >>

10 April 2014. Nordic Mines: The Laiva mine produced 187 kilos of gold during 1Q 2014 pdf-file >>

8 April 2014. NORDIC MINES AB (publ) Annual Report is now published (avaliable in Swedish only) pdf-file >>

26 March 2014. Nordic Mines will publish first quarter results report on April 23rd 2014 pdf-file >>

26 March 2014. Notice of Extraordinary General Meeting of Nordic Mines AB (publ) pdf-file >>

26 March 2014. Nordic Mines invites to Extraordinary General Meeting ("EGM") pdf-file >>

13 March 2014. Jonatan Forsberg appointed interim CFO for Nordic Mines pdf-file >>

12 March 2014. Nordic Mines Oy starts cooperation negotiations pdf-file>>

20 Februari 2014. Changes in Nordic Mines´ Group Management pdf-file>>

17 February 2014. Corporate reorganization to continue within Nordic Mines pdf-file>>

6 February 2014. Nordic Mines AB (publ) Year-End Report 2013. pdf-file>>

10 January 2014. Production Report: The Laiva mine produced 241 kilos of gold during Q4 2013. pdf-file>>


2013

22 November 2013. Nomination Committee of Nordic Mines pdf-file>>

18 November 2013. Corporate reorganization to continue within Nordic Mines pdf-file>>

31 October 2013. Nordic Mines AB Interim report January-September 2013 pdf-file>>

10 October 2013. The Laiva mine produced 259 kilos of gold in Q3, 2013 pdf-file>>

10 September 2013. Basic report filed at the Oulu District Court for Nordic Mines Oy pdf-file>>

27 August. Resignation at own request from the Board of Nordic Mines pdf-file>>

8 August. NORDIC MINES AB (publ) Interim report January-June 2013 pdf-file>>

29 July. Decision from the meeting of the creditors at Uppsala Tingsrätt pdf-file>>

11 July. Production report Q2, 2013 pdf>>

8 July. Nordic Mines files for corporate reorganization for all non-dormant companies within the Group pdf-file>>

22 May. Nordic Mines starts installation of a cost efficient crushing function pdf-file>>

17 May. Nordic Mines has pre-settled the remaining gold price hedge pdf-file>>

8 May. NORDIC MINES AB (publ) Q1 Report 2013 pdf>>

3 May. NORDIC MINES AB (publ) Annual Report 2012 pdf>>

12 April. Production report Q1, 2013. pdf>>

28 February. Publication of changes in the total number of shares and votes in Nordic Mines. pdf>>

13 February. Nordic Mines AB (publ) Year-End Report 2012. pdf>>

31 Januari. Publication of changes in the total number of shares and votes in Nordic Mines. pdf>>

24 January. Final result of Nordic Mines’ rights issue. pdf>>

22 January. Nordic Mines’ rights issue fully subscribed pdf>>

09 January. The Laiva mine produced 78 kilos of gold during December 2012 pdf>>

2012

28 December. Publication of prospectus regarding the rights issue of Nordic Mines. pdf>>

20 December. Communiqué from Nordic Mines’ extraordinary general meeting. pdf>>

18. December. Minor leakage of tailings along the tailing pipe at the Laiva mine. pdf>>

18. December. The Board of Directors of Nordic Mines resolves on terms for the fully underwritten Rights issue of SEK 282 million. Read pdf>>

10. December. The Laiva mine produced 120 kilos of gold during November 2012 pdf>>

20.November. Notice of EGM of Nordic Mines AB (publ) pdf>>

20 November. Nordic Mines announces action plan. pdf>>

15 November. NORDIC MINES AB (publ) Interim Report, January - September 2012. pdf>>

13 November. Susanne Andersson has been appointed new CFO of Nordic Mines. pdf>>

09 November. The Laiva mine produced 87 kilos of gold during October 2012. pdf>>

09 October. The Environmental authority NTM- centralen in Northern Österbotten has approved the commissioning of a pipeline for excess water from the Laiva mine. pdf>>

09 October. The Laiva mine produced 78 kilos of gold during September 2012. pdf>>

11 September. The Laiva mine produced 94 kilos of gold during August 2012. pdf>>

07 September. The administrative court of Vasa has decided to withdraw the permission to temporarily
                     discharge mine water.
pdf>>

16 August. Nordic Mines AB (publ)—Interim Report, Jan-Jun 2012 pdf>>

16 August. Increased gold production and finances secured. pdf>>

15 Augusti. Communiqué from Nordic Mines’ extraordinary general. pdf>>

13 August. Catharina Lagerstam and Tord Cederlund resign from the Board of Directors of Nordic Mines AB. pdf>>

10 August. Publication of changes in the total number of shares and votes in Nordic Mines. pdf>>

09 August. The Laiva mine produced 85 kilos of Gold during July 2012. pdf>>

23 July. Invitation to Extraordinary General Meeting of Nordic Mines AB (publ) pdf>>

10 July. The Laiva mine produced a total of 260 kilos of gold during the second quarter 2012 pdf>>

09 July. Date set for the Extraordinary General Meeting. pdf>>

09 July. Nordic Mines’ rights issue of SEK 236 million fully subscribed. pdf>>

08 July. On Sunday 8th of July 2012 at Laiva gold mine, a minor leakage of paste (almost inert tailings) occurred at the paste area. pdf>>

29 June. Publication of changes in the total number of shares and votes in Nordic Mines. pdf>>

20 June. Publication of prospectus regarding the rights issue of Nordic Mines. pdf>>

15 June. Communiqué from the Extra General Meeting of Nordic Mines AB (publ) held on 15th June 2012. pdf>>

14 June. Correction of date - First day of trading in Nordic Mines´ shares, excluding preferential rights is June 18, 2012 pdf>>

14 June. Nordic Mines brings in strategic partner and secures issue proceeds of at least SEK 250 million and announces complete terms for the rights issue. pdf>>

11 June. Tom Söderman – New general manager at the Laiva mine. pdf>>

11 June. The Laiva mine produced 90 kilos of gold during May 2012. pdf>>

04 June. Nordic Mines has secured bridge financing. pdf>>

24 May. Invitation to Extraordinary General Meeting of Nordic Mines AB (publ). pdf>>

23 May. Communiqué from the Annual General Meeting of Nordic Mines AB (publ) held on 23rd May 2012. pdf>>

23 May. Nordic Mines announces a fully underwritten rights issue of approximately SEK 220 million. pdf>>

09 May. The production rate at the Laiva mine is increasing step by step, our goal is a positive cash flow this summer. pdf>>

08 May. Nordic Mines' gold deposit in Laiva mine continues to grow and now corresponds to another two full years of production. pdf>>

20 April. Unicredit exercises warrants in Nordic Mines AB (publ) and subscribes for new shares. pdf>>

18 April. Invitaition to the Annual General Meeting of Nordic Mines AB (publ). pdf>>

13 April. The Laiva mine produced 130 kilos of gold Q1 2012. pdf>>

16 March. Clarification in response to Finnish media stories on our application to the Environment Protection Agency. pdf>>

28 February. Nordic Mines has appointed Carnegie Investment Bank as financial advisor in the previously communicated directed share issue. pdf>>

16 February. Nordic Mines starts shipping gold from the Laiva mine. pdf>>

2011

19 December. Nordic Mines move to Nasdaq OMX Mid Cap list. pdf>>

16 November. Prodution start at the Laiva mine. pdf

17 August. Half-year Interim Report, January-June 2011. pdf

09 August. Nordic Mines's gold deposit the Laiva mine continues to grow ahead of prodution start. pdf

10 March. Nordic Mines secures the gold price to 1049€/oz. pdf

07 March. All mining contarcts in place at the Laiva gold mine. pdf

17 February. Full Year Report 2010. Laiva-project according to plan. pdf

2017-09-08 Nordic Mines AB (publ) has been delisted from Nasdaq Stockholm


The company today announces that the Nasdaq Disciplinary Board has decided to delist the company's shares. The reason is said to be a number of shortcomings in management and information to the market. Trading with the company's shares has been discontinued since July 7, 2017.


The Board is accepting the stock exchange's decision but has a divergent view that in an ambition that the company's problems are about to be resolved.


The Disciplinary Board has decided that the Board of Directors and the Board of Directors of Nordic Mines have not met the requirements of 2.4.1, 2.4.2 and 2.4.3 of the Nasdaq Stockholms Regulatory Issue.


A detailed description of the case and the Disciplinary Board's decision can be found at:

http://www.nasdaqomx.com/listing/europe/surveillance/stockholm/disciplinarycommittee/decisions/

För additional information contact:
Torbjörn Bygdén
Company secreterare och Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, box 34212
10026 Stockholm

For more information Nordic Mines, besök www.nordicmines.com/.

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8 September 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-09-05 Prior to Friday's Extra General Meeting in Nordic Mines AB (publ), the company wishes to make the following statement

Under the leadership of Chairman Fredrik Zettergren, and in consultation with the company's largest shareholder, Lau Su, the company has negotiated with Firesteel regarding the proposed Joint Venture agreement.
 
The renegotiation has resulted in a number of changes, including the fact that, in the event of a successful rights issue, the Company will be entitled to invest with Firesteel in Nordic Mines Market, which will change ownership interests in the Company's favor (given that the rights issue provides sufficient capital) and that the board / operating committee in any case until its Firesteel has acquired a majority stake in the Nordic Mines Market, shall consist of equally many members and that decisions shall be taken unanimously.
 
The renegotiation has been made on the basis of the views expressed by the circle of shareholders, and with present draft agreements, Lau Sus's comments on JV cooperation, as taken directly to Firesteel and to the Board, have been taken into account.
 
Against this background, the Board is of the opinion that the Firesteel option is what shareholders should primarily take into consideration, especially in view of the fact that Lau Su has not yet provided documentation with evidence that Lau Su will provide bridge financing for the Company despite previous commitments, nor any guarantee that Lau Su will subscribe for an amount of at least US $ 3 million in the rights issue.

För additional information contact:
Torbjörn Bygdén
Company secreterare och Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, box 34212
10026 Stockholm

For more information Nordic Mines, besök www.nordicmines.com/.

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 5 September 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-09-04 Nordic Mines AB: The Board informs about Nasdaq's actions in connection with communication on compliance

According to Nasdaq Stockholm, the company has not adhered to the stock exchange's regulatory framework and considers that the company does not fulfill the basic listing requirements. The company has announced in several communications to the stock exchange that the previous problems and difficulties will be passed when the extraordinary shareholders meeting decide on the strategic path and at substantial financing of the business. The company therefore does not agree with the judgment that the Supervisory Authority has attributed to the company.

Nasdaq thus writes: "The stock exchange will promptly submit the matter to the Stock Exchange Disciplinary Board for review of a decision to delist the company's shares from Nasdaq Stockholm, in accordance with paragraph 2.9.3 of the Nasdaq Stockholms Stock Exchange's Rules of Issuers."

För additional information contact:
Torbjörn Bygdén
Company secreterare och Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, box 34212
10026 Stockholm
For more information Nordic Mines, besök www.nordicmines.com/.

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 4 September 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-08-22 Nordic Mines AB (publ): Interim report second quarter 2017

Second quarter of 2017

  • Revenues were SEK 0.0 million (SEK 0.0 million) as the Laiva Mine is on care and maintenance and
  • not in production.
  • The Company reported an operating loss of SEK -4.2 million (SEK -8.4 million 2nd quarter 2016).
  • Loss after tax for the period amounted to SEK -4.5 million (SEK -8.4 million 2nd quarter 2016),
  • corresponding to SEK -0.01. (SEK -0.01) per share.
  • Cash and cash equivalents were SEK 4.8 million (SEK 2.9 million 31 December 2016) at the end of
  • the period. Thus, the Company currently does not have sufficient funds to cover its needs for the next
  • three months starting from the date of this report.
    Equity was SEK 478.2 million (SEK 489.7 million 31 December 2016) at the end of the period.
  • Annual general meeting decided on a rights issue of SEK 69,1 million.

January to June, 2017

  • Revenues were SEK 0.0 million (SEK 0.0 million) as the Laiva Mine is on care and maintenance and not in production.
  • The Company reported an operating loss of SEK -15.5 million (SEK -21.8 million 2nd quarter 2016).
  • Loss after tax for the period amounted to SEK -16.5 million (SEK -20.4 million 2nd quarter 2016), corresponding to SEK -0.03. (SEK -0.04) per share.

Significant events after June 30, 2017

  • The board has initiated contacts with potential partners for the purpose of carrying out the rights issue.
  • Nasdaq has in its communication with the company had issues with the way the company handles certain tasks and asked the company for an explanation on how it perceives rectifying issues such as management and communication. The company has answered the questions from Nasdaq. Although answer has been given, Nasdaq put a trade stop on Nordic Mines shares from July 7.
  • The company has per August 21 given a new reply to Nasdaq's questions
  • The company has summoned to extraordinary general meeting by September 8 in order to for the meeting to decide upon two alternative deals, one presented by Firesteel and the other by the shareholder Lau Su. Documentation has already been published as press release.

Board of Directors statement
The company has continued difficulties in handling significant funding challenges. Of course, it impedes Opportunities for operational activities at the Laiva mine. As previously announced, the AGM has decided New share issue of just over SEK 69 million. In connection with the extraordinary meeting of September 8, the shareholders will evaluate two offers on financing and development of the company. An offer to enter a business agreement with tFiresteel Resources Inc., listed on the Canadian Stock Exchange, or a business solution that will be presented by the shareholder Lau Su Holding AB. The company seeks to broaden the board as well as strengthen resources for management including appointing managing director.

Results, second quarter 2017
Net sales were SEK 0.0 million (SEK 0.0 million) during the first quarter of 2017 as the Laiva mine remains on care and maintenance and is not in production.
Production costs amounted to SEK -3.1 million (SEK -3.6 million 2nd quarter 2016) during the first quarter of 2017. Even though there has not been any production during the quarter, the Company has maintained some of the organisation around the Laiva mine, for example for maintenance work and environmental supervision. The mine and the plant also have a number of fixed costs, for example balancing the water levels in the mining area, which remain even though the mine is not in production. Depreciation, amortization and impairment losses for the first quarter of 2017 were SEK -2.9 million (SEK -5.8 million 2nd quarter 2016).

Sales and administration costs amounted to SEK -4.0 million (SEK -6.4 million 2nd quarter 2016).
The Company reported an operating result of SEK -4.2 million (SEK -8.5 million 2nd quarter 2016).
Net financial items were SEK -0.3 million (SEK -0.9 million 2nd quarter 2016). The Company's income tax for the period has an impact on profit of SEK 0.0 million (SEK 0.0 million 2nd quarter 2016).
Loss for the period after tax amounted to SEK -4.8 million (SEK -7.5 million 2nd quarter 2016).

Cash flow and financial position
Cash flow from operating activities including changes in working capital for the first quarter of 2017 amounted to SEK -0.3 million (SEK -7.4 million Q1 2016). Net cash flow from the financing operations amounted to SEK 3.5 million (SEK -0.2 million Q1 2016) during the same period. Cash and cash equivalents at the end of the period amounted to SEK 4.8 million compared to SEK 2.9 million as of 31 December 2016. Therefore the Company does not currently have sufficient funds to cover its needs for the next three months at the date of this report. If external funds are not provided, it is the assessment of the Board that there is a high risk that the Company will be facing a liquidity deficit. For more information please refer to Liquidity Risks.
At the end of the period, the Group's equity was SEK 473.2 million, compared to SEK 489.7 million as of 31 December 2016. For risks related to the Company's equity, please refer to the Going Concern Principle. The equity/assets ratio was 88.8 per cent compared to 88.7 per cent as of 31 December 2016. Net debt was SEK 15.5 million compared to SEK 8.5 million as of 31 December 2016.

Investments
Since the Company is currently not conducting any mining operations at the Laiva mine, only smaller investments have been made. Net investments during the quarter amounted to SEK 0.0 million, compared to SEK 0.0 million during the same quarter of 2016.

Segment reporting
As per January 2013, the Group stopped using a segment division as there has only been one productive mine in Finland within the Group, and exploration work is currently limited to an administrative scope due to cost savings. The consolidated income statements and balance sheets have been reviewed and valued thereafter.

Employees
During the first quarter of 2017, the average number of employees was 35. No serious accidents were reported during the period.

Exploration
Due to cost savings, Nordic Mine's exploration work was more or less suspended at the beginning of 2013. In total, capitalised exploration expenses as of 31 March 2017 amounted to SEK 64.6 million.

Mineral resource and mineral reserve, 1 January 2015, prepared by SRK Consulting UK Ltd
The tables below shows the most recent update to the Mineral Resource estimate that includes ore sorting that reduces the amount of waste rock and the previous Mineral Resource estimate without sorting

Laiva Mineral Resource - with sorting (16 May 2016)
         
Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
         
Measured - - - -
Indicated 24 317 397 1,13 27 535 885 000
Measured + indicated 24 317 397 1,13 27 535 885 000
Inferred 4 374 277 1,64 7 187 231 000

The mineral resource is reported at a cut off of 0.3 g/t.
The calculation of the mineral resource was based on an assumed five-year gold price of €1,225 per tr.oz (USD 1,400 per
tr.oz).

Laiva Mineral Resource- without sorting (1 January 2015)
         
Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
         
Measured - - - -
Indicated 15 970 000 1,52 24 300 780 000
Measured + indicated 15 970 000 1,52 24 300 780 000
Inferred 3 220 000 2,08 6 700 215 000

The mineral resource is reported at a cut-off grade of 0.6 g/t.
The model for the calculation of the mineral resource is limited by an assumed gold price of €1,300 per troy ounce (USD
1,510 per troy ounce).
The reported mineral resource includes the mineral reserve shown below.

Laiva Mineral Reserve - Without sorting (1 januari 2015)
         
Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
         
Proved - - - -
Probable 9 367 000 1,19 11 200 360 000
Proved + probable 9 367 000 1,19 11 200 360 000

The mineral reserve is reported at a cut-off grade of 0.6 g/t.
The calculation of the mineral reserve was based on an assumed five-year gold price of €1,020 per troy ounce (USD 1,184
per troy ounce).

The gold market and price of gold
According to LBMA (London Bullion Market Association) gold fixing, the price of gold was listed at the beginning of the quarter per troy oz at USD 1,159.10 and EUR 1,100.03, and at the end of the quarter at USD 1,241.70 and EUR 1,156.58.

The Nordic Mines share
The Nordic Mines share has been traded on the Nasdaq Stockholm's Small Cap list since July 2008. The ticker symbol for the share is NOMI and the ISIN code is SE0007491105.

Shareholders
As per 31 March 2017, the number of shareholders in Nordic Mines amounted to approximately 11,000. The ten largest shareholders in the Company are listed in the table below.

Shareholders as per 30 Juni 2017 Antal aktier Innehav % No of shares Percentage
EUROCLEAR BANK S.A/N.V, W8-IMY  123 024 503 21,75%
CBSG-PHILLIP SEC P/L-CL(INSTI NDVP)  47 754 771 8,44%
STATE STREET BANK & TRUST COM., BOSTON  24 326 540 4,30%
FÖRSÄKRINGSAKTIEBOLAGET, AVANZA PENSION  18 857 366 3,33%
SWEDBANK FÖRSÄKRING  7 534 286 1,33%
NORDNET PENSIONSFÖRSÄKRING AB  5 438 996 0,96%
SALA KEBAB AB  5 000 000 0,88%
HILMAND, BIRTE  4 550 000 0,80%
HANDELSBANKEN LIV  4 438 225 0,78%
MENDRIS, NICO  3 755 000 0,66%
ÖVRIGA 321 043 069 56,75% 321 043 069 56,75%
TOTAL 565 722 756 100,00%

Share capital
As per 31 March 2017, the market capitalisation amounted to SEK 158.4 million divided between 565,722,756 shares with a quoted value of SEK 0.28 each.
Equity amounted to SEK 478.0 million at 31 March 2017, compared to SEK 489.7 million at 31 December 2016.

Significant risks and uncertainties
All enterprise is associated with a certain degree of risk. Nordic Mines' operations must be assessed based on the risk, cost and difficulty that companies in the mining and exploration business often face. The risks in the majority of cases are such that the Company cannot protect itself from them.
The risk faced by mining and exploration companies is mainly associated with the outcome of the exploration itself, the production and the market price on the metal markets, but there is also risk associated with licensing issues related to exploration, processing and the environment.
The Group is also exposed to a number of financial risks: liquidity risk, credit risk, gold price risk and currency risk. The Board and Management attempt to address these risks by identifying, evaluating and mitigating the risks listed above where appropriate.
A more detailed analysis is available in the 2016 Annual Report, which is available on the Company's website, www.nordicmines.se.

Liquidity risk
The Company currently does not have sufficient funds to cover its needs for the next three months at the date of this report. Cash and cash equivalents totalled SEK 1.3 million at the end of the first quarter of 2017 and the Company basically does not have any income since production as the plant was closed, albeit there have been some modest timber sales in the fourth quarter. The Company is dependent on external capital contributions for continued operations.
The Company does not currently have the funds to restart operations at the Laiva mine. In order to fund the restart of the Laiva mine, a capital contribution in addition to existing cash and cash equivalents would be required. This capital contribution is intended to fund working capital related to the restart, initial investments and a liquidity reserve for unforeseen costs and administration. This funding is assumed to be a combination of debt financing and additional equity contributions.
If the Company fails to raise additional capital, there is a risk that a liquidity deficit will eventually occur. Given such a development, it is a risk that the Finnish composition plan would default, thus leading to a new reorganisation, bankruptcy or other winding down of the Company.

Composition plan Nordic Mines Oy
On 31 July 2014, the Uleåborg District Court decided to adopt the composition plan proposal filed with the court by the administrator for Nordic Mines' Finnish subsidiary. The composition plan includes conditions that allow the Company's creditors and the composition plan supervisor, attorney Hannu Ylönen from the Krogerus law firm, to apply for the composition to be revoked under certain conditions. Ground for termination include those related to the Group companies not fulfilling their payment obligations under the composition plan.
If Nordic Mines Oy breaches the composition plan, there is a risk that the Finnish composition plan will fail, which could lead to a new reorganisation, bankruptcy or other winding down of the Company. In the event the Finnish composition plan defaults, the relevant creditors' claims return to Nordic Mines Oy, at their full amount, and in the event of bankruptcy all shareholders will lose the entire amount of their previously invested share capital.
A more detailed analysis on the Composition plan in Nordic Mines Oy is available in the prospectus from 2015, which is available on the Company's website, www.nordicmines.se.

Gold price risk
Sales commenced in January 2012 and essentially have consisted of a single product, doré bars, containing gold, silver and copper. A decline in the price of gold could have a negative impact on the Group's future profit as well as a negative impact on the Company's possibilities for restarting operations at the Laiva mine.

Currency risk
Gold is quoted in USD, the majority of the costs occur in EUR and the Group is consolidated in SEK. Accordingly, the Company is directly dependent on exchange rates for these currencies. If USD strengthens against EUR, this has a positive effect. If EUR strengthens against SEK, this has a positive effect on sales, but a negative effect on costs.

Employees
Nordic Mines currently has a small organisation and is dependent on a number of key individuals. A limited expected lifetime and to date weak profitability for the Laiva mine can result in restricted opportunities to recruit key personnel once the mine restarts its operations.

Accounting principles
The consolidated accounts have been prepared in accordance with the International Financial Reporting Standards (IFRS) as endorsed by the EU and recommendation RFR 1 issued by the Swedish Financial Reporting Board on Supplementary Accounting Rules for Groups, which specifies the additions to the IFRS disclosures that are required as stipulated in the Annual Accounts Act. This financial report was prepared in accordance with IAS 34, Interim Financial Reporting. The Parent Company's financial statements are prepared in accordance with the Annual Accounts Act and RFR 2, Accounting for Legal Entities. The Group uses the same accounting principles as those described in the 2015 Annual Report. No new IFRS additions or regulations that affect the Group have entered into force.

Upcoming informational meetings and announcements
---
Interim report Q3 21 November 2017
Interim report Q4 27 February 2018

The Board of Directors and the Chief Executive Officer hereby confirm that this interim report gives a true and fair view of the Company's and the Group's operations, financial position and results of operations, and describes significant risks and uncertainties faced by the Company and the companies in the Group. The report for January - March 2017 has not been reviewed by the Company's auditors.

Stockholm, 22 augusti 2017
NORDIC MINES AB (publ)

Fredrik Zettergren         Hans Andreasson           Krister Söderholm            Torsten Börjemalm
Styrelseordförande        Styrelseledamot             Styrelseledamot                Styrelseledamot

Note
Nordic Mines is required to publish this information pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 22 August 2017, at 13:00 CET.

For further information, please contact:
Torbjörn Bygdén: +46 (0)10 141 21 03

Definitions according to SveMin
A Mineral Resource is a concentration of occurrences of materials in or on the earth's crust in such form, quality and quantity that is of interest financially and for which financially profitable extraction is deemed possible. The location, quantity, grade, continuity and other geological characteristics of a mineral resource are measured, estimated or interpreted based on specific geological facts, tests and knowledge. On the basis of its geological certainty, a mineral resource is classified into the following categories: inferred mineral resource, indicated mineral resource and measured mineral resource.

An Inferred Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be estimated with a low level of confidence. This is inferred from geological evidence, tests and assumed but not verified geological or grade continuity. It is based on information gathered using appropriate techniques through exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. The information is limited or of uncertain quality and reliability.

An Indicated Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be assumed with a reasonable level of confidence. It is based on information gathered using appropriate techniques through exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. However, this information is too inconsistent or inappropriately distributed to guarantee geological or grade continuity.

A Measured Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be assumed with a high level of confidence. It is based on information gathered using appropriate techniques through detailed and reliable exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. This information is sufficiently consistent to prove geological and/or grade continuity.

A Mineral Reserve is the part of a measured or indicated mineral resource that is deemed to be economically feasible for extraction. This includes diluting material and losses which may occur when the material is mined. Appropriate assessments and studies have been conducted and modified taking into consideration realistic assumptions related to mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction can be reasonably justified. On the basis of their geological certainty, mineral reserves are classified into the following categories: probable mineral reserve and proven mineral reserve.

When using the term "mineral reserve", there is an expectation that studies have been conducted at the Pre- Feasibility level as a minimum, including a mining plan that is technically appropriate and economically viable.

A Probable Mineral Reserve is the part of an indicated or under some circumstances measured mineral resource for which extraction is economically viable. This includes diluting material and losses which occur when the material is mined. Studies at a minimum of the Pre-Feasibility level have been conducted and modified to take into consideration mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction can be reasonably justified.

A Proven Mineral Reserve is the part of a measured mineral resource for which extraction is deemed to be economically viable. This includes diluting material and losses which occur when the material is mined. Studies at a minimum of the Pre-Feasibility level have been conducted and modified to take into consideration mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction is justified.



Press release (PDF)

2017-08-10 The Board's comment and assessment of alternatives from Firesteel and Lau Su as well as a summary description in Swedish of the options. Full presentations in English attached as pdf

Since the previous AGM, the Board has devoted time to discuss with Firesteel and with representatives of Lau Su about NOMI's strategic direction for the future, and finally to determine the terms that accompany the two current road choices. The board is still trying to find an alternative where the two proposals could be combined in an NOMI-beneficial manner.

At present, the Board of Directors favors Firesteel's options, although there is still no confirmation of proof of funds are allocated to the account to implement the plans. The reason for this statement is that Firesteel's proposal implies that NOMI is promptly provided with the necessary capital to ensure continued operations and to start operations at Laiva.

With regard to Lau Sus's proposal, the Board does not want to reject it at the present time, as the Board lacks sufficient support to assess the deal in all respects. For this reason, the Board recommends that feasibility studies, technical description and benefits versus Firesteel proposal be implemented before a further general meeting can decide if there is scope for further progress. If shareholders find that Lau Sus's proposals should be investigated in the manner proposed now, it is imperative that Lau Su also undertakes to make available the necessary funding until such time as decisions can be taken and for the necessary time thereafter. According to what the Board has received, the aforementioned investigations will take at least six months before they can be submitted to a general meeting for a decision. Lau Su should also undertake to guarantee an amount of three million US dollars, as proposed by Lau Su, within the framework of the rights issue currently prepared according to the resolutions of the previous AGM.

As noted above, the Board has also taken steps to initiate a new share issue in cooperation with the company's partners and advisors. In addition, probation are ongoing to broaden the board.

In summary, the various proposals include:

I. Firesteel's business plan

A) Drive the Laiva mine as a Joint Venture together with Nordic Mines AB (publ)
B) Obtain the necessary resources and skills to restart the mine. From start to full production is estimated 6 months
C) The need for funds is estimated to be approximately CAD 20,000,000
D) Strengthen shareholder values by running profitable mining operations
E) Implement better cost control
F) Implement better grade control at the blasting control to increase the gold content of the ore
G) Optimize mining methods and process recovery. It includes reworked geological model, better blasting methods, crushing, improvement in the mill and qualified mining management. Objective of doubling the gold content to 1.8 gr / ton.
H) Demonstrate hidden values in a previously poorly understood asset
I) Build resources through exploration
J) Evolve to an international mid-tier producer by acquiring other assets in other assets in other jurisdictions
K) Firesteel has so far invested CAD 3,000,000 in direct financial support and extensive technical research which includes geology, preparation of operational plan and contacts with the company's creditors.
L) Firesteel will own 51% of the asset Nordic Mines Marknad AB initially and later 60%. Firesteel will offer shareholders the opportunity to buy their remaining 40% share of the shares.

II. Lau Su's business plan

The business plan extends from September 2017 to August / September to production start-up, estimated to fall in 2018. It comprises the following steps:
A) New issue of $ 8 million, September 2017. Of which guaranteed by Lau Su $ 3 million
B) Dilution 25%
C) Conversion loan to equity, December 2017
D) Ambition for write-down of liabilities to suppliers by 80% in respect of items beyond the composition plan.
E) Prospectus for splitting mining / mill, February 2018. Included license questions.
F) Voluntary delisting from Nasdaq, February 2018. Takes about 6 months. Unregistering may also be enforced, whereby naturally alternative registration is to be sought.
G) Private investment in new company 2, the mill, April 2018. Merger with company $ 100 million turnover
H) Guaranteed IPO (New Registration) of new companies 1 and 2 on the Bombay Stock Exchange, July 2018
I) IPO completed for the two companies with size of $ 6 million each in September 2018
J) Objective of value per share company 1 (mining) = 1.55SEK / share: company 2 (mill) 1.55SEK / share
K) Immediate following after September 2018, objective is continuing with the acquisition of another Nordic gold mining company and continuing exploration in Laiva

For additional information, please contact:
Torbjörn Bygdén
Företagsekreterare och Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 August 2017. 
 
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. For further information, see www.nordicmines.com



Press release (PDF)

2017-08-04 Notice of extra general meeting of Nordic Mines AB (publ)

The shareholders of Nordic Mines AB (publ), Corporate Registration Number 556679-1215 (the "Company") are hereby invited to the Extra General Meeting on Friday, September 8 2017 at 1.30 p.m. at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm.

Right to participate in the Meeting

Shareholders who wish to participate in the Meeting must be included in the shareholders' register maintained by Euroclear Sweden AB as of Friday, September 1 2017, and notify the Company of their participation not later than September 4 2017, preferably before 3 p.m., at the following address: Nordic Mines AB (publ), c/o Azets Insight AB Att. Ludmilla Lundberg, Box 34212, 100 26 Stockholm, per telefon +46 70 268 81 13, eller via e-post till ludmilla.lundberg@azets.net.

In their notification of attendance, shareholders must state their name, personal identification number or corporate registration number, address, telephone number, e-mail address, any assistants and shareholdings. Proxy forms for shareholders wishing to participate in the Meeting via proxy will be available on the Company's website www.nordicmines.com. Shareholders represented by proxy are to issue a dated power of attorney for the proxy. If the power of attorney is issued on behalf of a legal entity, a certified copy of a registration certificate or corresponding document for the legal entity is to be appended to the notification of attendance. The power of attorney and registration certificate should be sent to the Company at the aforementioned address well in advance of the Meeting. The power of attorney may not be more than five years old.

Shareholders whose shares are registered with a bank's custody services department or another nominee must temporarily re-register their shares in their own name with Euroclear Sweden AB to be able participate in the Meeting. Such re-registration must be completed by September 1  2017, and the nominee must thus be informed well in advance of this date.

Items of business at the Meeting

Proposed agenda

1)   Opening of the Meeting

2)   Election of chairman of the Meeting

3)   Preparation and approval of the voting list

4)   Election of one or two persons to verify the minutes

5)   Determination of whether the Meeting has been duly convened

6)   Approval of the agenda

7)    Firesteel Resources 51/49 JV in Nordic Mines Marknad AB to be presented by Firesteel. As opposed to item 8 - 10, which will be presented by the shareholder Lau Su, the board endorses suggested deal from Firesteel.

8)   De-Merger & Fresh IPO Plan of Lau Su to be presented by Lau Su

9)   Voluntary De-Listing from NASDAQ OMX on account of De-Merger

10)  Merger of Nordic Mines AB with Nordic Mines Marknad AB

11)  Decision on item 7 versus items 8 - 10

12)  Meeting decision on supplement of Board of Directors

13)  Closing of meeting

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

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 4 August 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-07-25 Nordic Mines AB: To shareholders in Nordic Mines

The Board understands the concern and frustration of the company's shareholders regarding the company's development and the lack of information. The Board therefore wishes to take this opportunity to inform on how it views the situation and which initiatives that are taking place.

First and foremost, the AGM resolved on a rights issue, which the Board halted. The reason for this is that a new share issue does not appear to be guaranteed by any of the major shareholders, which would mean that the sums that the issue would generate may only pay for payment by the company's current creditor. However, the monies would not suffice - which is extremely important for the survival of the company - what is required to launch mining operations. The Board's attitude and perception is that conditions must be created for, for example, an industrial owner entering into business together with existing shareholders with capital and know-how.

Nordic Mines chairman Fredrik Zettergren has the task of conducting discussions with such an industrial partner, Firesteel, with the purpose of determining whether a deal with Nordic Mines can be carried out. The dialogue has lasted a few weeks and still continues. When the discussions are completed, it will rendere in a clear agenda for an upcoming EGM meeting. Therefore, it is easy to understand that the company have had to postpone the meeting to an indefinite date until the talks are completed.

The company has not yet received feedback from Nasdaq on trade halt and any requirement for re-registration on Nasdaq.

Finally, it should be emphasized that the current Board and also the previous Board have not given any binding commitments to Firesteel. The current board is, however, interested in bringing unconditional talks with Firesteel about cooperation

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

For additional information, please contact:
Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 July 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-07-11 Nordic Mines AB: The Board informs about strategic plan and to postpone extraordinary meetings

The Board is currently working on a number of strategic considerations which will be important for the company's development and financing. For these reasons, the planned extraordinary general meeting of July 25 will be postponed somewhat. The company will revert with a new date shortly.

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

For additional information, please contact:
Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11 July 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-07-10 Nordic Mines AB - Information about observation and trading stop

Quote from Nasdaq's remark.

"The stock exchange can note that Nordic Mines AB does not comply with the requirements for listing requirements (section 2.4.2 of the regulations) concerning capacity for information disclosure (section 2.4.3 of the regulations), and that there appear to be significant deficiencies regarding the board (section 2.4.1 of the regulations ).

In the light of the above, and based on paragraph 2.9.2 (2) of the regulatory framework, the stock exchange expect to receive a thorough statement of what measures the company intends to take and how these measures mitigates the above requirements are to be met. Such a statement shall be announced no later than Friday 21 July 2017. The trade stop that the stock exchange has decided on today will last at least until the stock exchange receives the company's statement.

When the stock exchange receives feedback from the company around above, we will take a stand on how we proceed on the matter.

Due to the fact that the company is not deemed to comply with the applicable listing requirements, the stock exchange has decided to update the observation of the company's share, point 2.7 (i) of the regulatory framework, against this background."

Nordic Mine's response

The company and the board work intensively to resolve the issues Nasdaq has pointed out and intend to return to the stock exchange before July 21 with an answer.

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

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 July 2017.

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. For further information, see www.nordicmines.com



Press release (PDF)

2017-06-21 Nordic Mines AB (publ) summons for Extraordinary General Meeting to decide on joint venture with Firesteel Resources Inc. according to details previously released.

Nordic Mines AB (publ) summons for Extraordinary General Meeting to decide on joint venture with Firesteel Resources Inc. according to details previously released.

The shareholders of Nordic Mines AB (publ), corporate registration number 556679-1215 (the "Company"), are hereby invited to the Extraordinary General Meeting on Tuesday, 25 July 2017 at 1.30 p.m. at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm.

Right to participate in the Meeting

Shareholders who wish to participate in the Meeting must be included in the shareholders' register maintained by Euroclear Sweden AB as of Friday, 18 July 2017, and notify the Company of their participation not later than 21 July 2017, preferably before 3 p.m., at the following address: Nordic Mines AB (publ), c/o Azets Insight AB Att. Ludmilla Lundberg, Box 34212, 100 26 Stockholm, per telefon +46 70 268 81 13, eller via e-post till ludmilla.lundberg@azets.net.

In their notification of attendance, shareholders must state their name, personal identification number or corporate registration number, address, telephone number, e-mail address, any assistants and shareholdings. Proxy forms for shareholders wishing to participate in the Meeting via proxy will be available on the Company's website www.nordicmines.com. Shareholders represented by proxy are to issue a dated power of attorney for the proxy. If the power of attorney is issued on behalf of a legal entity, a certified copy of a registration certificate or corresponding document for the legal entity is to be appended to the notification of attendance. The power of attorney and registration certificate should be sent to the Company at the aforementioned address well in advance of the Meeting. The power of attorney may not be more than five years old.

Shareholders whose shares are registered with a bank's custody services department or another nominee must temporarily re-register their shares in their own name with Euroclear Sweden AB to be able participate in the Meeting. Such re-registration must be completed by 18 July 2017, and the nominee must thus be informed well in advance of this date.

Items of business at the Meeting

Proposed agenda

1)   Opening of the Meeting
2)   Election of chairman of the Meeting
3)   Preparation and approval of the voting list
4)   Election of one or two persons to verify the minutes
5)   Determination of whether the Meeting has been duly convened
6)   Approval of the agenda
7)   Decision to go ahead with proposed agreement with Firesteel on joint venture in regards of Nordic Mines Marknad AB.
8)   Closing of the Meeting

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.com
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 21 June 2017 08:00 CEST.


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. For further information, see
www.nordicmines.com. 



Press release June 21 ENG

2017-06-20 Nordic Mines AB (publ) notifies on supplementary information to notice on Annual General Meeting June 30, 2017

Nordic Mines AB (publ) notifies on supplementary information to notice on Annual General Meeting June 30, 2017

Nordic Mines AB (publ) has the pleasure to announce that the authorized auditing firm KPMG has announced that it intends to appoint Authorized Public Accountant Helena Arvidsson Älgne as the Company's Chief Auditor in case KPMG will be elected at the Annual General Meeting on 30 June 2017.

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.com
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 20 June 2017 08:00 CEST.


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. For further information, see
www.nordicmines.com. 



Press release June 20 ENG

2017-06-16 Nordic Mines AB (publ) and Firesteel Resources Inc. agree to a revision of previously announced agreement

Nordic Mines AB (publ) and Firesteel Resources Inc. agree to a revision of previously announced agreement

Nordic Mines and Firesteel announces amendments to agreement signed on June 7, 2017 in MoU (memorandum of understanding). Thus

      -          Initially the joint venture will be 51% Firesteel and 49 % Nordic Mines AB on investment of CAD 18.000.000
      -          Firesteel will acquire a further 9% of the investment Nordic Mines Marknad AB after investing a further CAD 4.000.000 and production of 5.000 ounces of gold
      -          The joint venture has the support of the Nordic Mines board and major shareholders
      -          Firesteel has voting lock agreement for around 40% of Nordic Mines shareholders to be voted in Firesteel' favour
      -          This is considered an arm's length transaction

By investing CAD 18.000.000 Firesteel will acquire 51% of the investment Nordic Mines Marknad AB. Nordic Mines will have 49% by contributing the mill, mineral reserves and exploration assets. After the investment, Firesteel will acquire an additional 9% by investing CAD 4.000.000 on a production of 5.000 ounces of gold. Firesteels ownership will then be 60%.

The remaining balance of Nordic Mines Marknad will be acquired at fair market value once the mine is returned to production.

The transaction is subject to shareholder and regulatory approval and is subject to the rules of Nasdaq OMX Stockholm Small Cap and TSX Venture Exchange.

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.com
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16 June 2017 16:00 CEST.


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. For further information, see
www.nordicmines.com. 



Press release June 16 ENG

2017-06-08 Nordic Mines makes amendments to Board Announcements & changes to Group Management

Nordic Mines makes amendments to Board Announcements & changes to Group Management

All members of the current board of Nordic Mines AB (Publ.) have now decided to make themselves available for re-election at the AGM, subject to approval of the AGM.

In addition, Nordic Mines' Board announces Appointments of New Group Management and resignations of Tony Butler and Ole Eikeland.

The management team of the Company will be re-inforced as follows. Saradhi Rajan continues to remain as the Group CEO. Group Management will be and reinforced by Ludmilla Lundberg (Chief Financial Officer), Torbjorn Bygden (Company Secretary & IR). The current CFO Tony Butler and Ole Eikeland (IR) will step down. Mr. Butler will remain available as  Sr. Advisor for the time being.

Ludmilla Lundberg (Chief Financial Officer, Born 1955)
Ludmilla Lundberg has more than 20 years of experience of working with compliance and reporting as Financial Controller and Chief Accounting Officer in large publicly listed companies such as Skanska, SEB, ABB and Vattenfall. In addition to this, Ludmilla Lundberg was also the acting CFO of Copperstone Resources AB listed at Nasdaq OMX First North.

Torbjorn Bygden (Company Secretary & Investor Relations, Born 1959)
Torbjorn Bygden has more than 27 years of experience in Finance & Business Administration. He has spent 10 years with Astra Zeneca Group as a Finance Director (Accounting & Reporting) & Head of Finance & Business Adminstration; 8 years with Visma Services AB (Now Cogital Group) as a Director International Services. Torbjorn has extensive experience in IFRS Regulations, Sarbanne-Oxley Financial Control Framework along with in depth knowledge in Swedish GAAP and US GAAP accounting systems. Torbjorn will be responsible for ensuring compliance with statutory and regulatory requirements of NASDAQ OMX, Investor Relations and for ensuring that all decisions of the board of directors are implemented. He is an Economics Science Graduate from Umea University.

For additional information, please contact:

Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azzets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

For more information about Nordic Mines, please visit www.nordicmines.com/.
Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 8 June 2017 10:30 CEST.

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. For further information, see www.nordicmines.com.



Press release June 7 ENG

2017-06-08 Nordic Mines signs Joint Venture Memorandum of Understanding with Firesteel

Nordic Mines signs Joint Venture Memorandum of Understanding with Firesteel

Nordic Mines AB (Publ) ("Nordic Mines" or the "Company") has signed a Memorandum of Understanding (MOU) with Firesteel Resources Inc ("FTR") in order to establish a Joint Venture in favour of FTR. The salient features of the MOU are set out below.

  • The Joint Venture Vehicle will be Nordic Mines Marknad AB ("NMM") which at present is a wholly owned subsidiary of the Company. NMM will hold all of the Company's prospecting licenses as well as all of the exploitation properties. Nordic Mines will contribute the properties, the mill and the licenses for 49% of the Joint Venture and FTR will contribute CAD 18,000,000, the operating team, the operating plan and know-how for 51% of the Joint Venture. NMM contains all the operative business of the Nordic Mines group.
     
  • The Joint Venture will be run by an operating committee comprised of five directors. Three of whom will be appointed by FTR and two of whom will be appointed by Nordic Mines. It is the parties intention that any profits from NMM pursuant to the production of gold will be distributed to the respective parties in the form of dividends.
     
  • The parties intend to sign legally binding documentation by June 25, 2017 which will include FTR committing the sum of CAD 18,000,000 (approximately 116 MSEK) by August 25, 2017. To initiate the legally binding documentation, the Joint Venture has secured approval from shareholders representing close to 40 % of the shares and votes in Nordic Mines, supporting the necessary agreements and a Standstill and Exclusivity arrangement to FTR for a period up-until August 25, 2017 in which to complete the transaction. Standstill meaning that loans in NMM will not be collected although the expiration date has passed. In exchange for this option FTR will pay the sum of EUR 887,100 (approximately 8,7 MSEK) to the Company with immediate effect no later than during the week commencing Monday 12th June 2017 via confirmed Bank Transmittance copy to the Company. The agreement will be subject to shareholders approval at an upcoming Extra General Meeting to be summoned.
     
  • As a result of the Joint Venture the resolution by the board of directors on Rights Issue on the condition of the subsequent approval from the AGM, as communicated on 1 June 2017 in the notice to the upcoming AGM, will no longer be supported by Lau Su Holding AB ("Lau Su").
     
  • Lau Su has signed the MOU and has agreed to support a 51:49 Joint Venture model involving a binding commitment to investment of CAD 18,000,000.

For additional information, please contact:
Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm

Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8 June 2017 10:30 CEST.

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. For further information, see www.nordicmines.com.



Press release June 7 ENG

2017-06-05 Nordic Mines AB: Press release regarding notification from Nasdaq Stockholm

Press release regarding notification from Nasdaq Stockholm

Because of proposed changes to the board of directors in Nordic Mines AB (publ), as communicated on 1 June 2017 through press release regarding notice to annual general meeting to be held on 30 June 2017, Nasdaq Stockholm has notified the company that the proposed changes are deemed substantial changes to the company's operations and would therefore trigger item 2.8 in the Nasdaq Stockholm Rulebook for Issuers. The exchange has therefore decided that a new listing process must be initiated. Such new listing process implies that a new application to the Listing Committee must be submitted, that a stock exchange auditor will be engaged to make an assessment as to whether the company fulfils the listing requirements and that a full application fee must be paid. Based on the above Nasdaq Stockholm has asked the board of directors to revert no later than on Friday June 9, 2017, in writing with information on how the company intends to proceed.

In accordance with the above, the board of directors will reply to Nasdaq Stockholm no later than Friday June 9, 2017, on how to proceed to possibly avoid triggering a new listing process.

One possible solution that would be discussed with NASDAQ would be current board having secured participation of 4 current board members along with 3 new board members suggested by Lau Su Holding AB, who would then be set for election at the announced AGM. If this solution is agreeable with NASDAQ, an updated AGM notice reflecting the changes will be issued separately. This solution would also include current board having secured continued support from Legacy Hill during a transitional period wherein a smooth hand over is provided by Legacy Hill to New Management appointed by New Board.

For additional information, please contact:

Anneli Önneby

annelionneby@icloud.com

00 46 (0) 736-80 62 42

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 5 June 2017 08.45 CEST.

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. For further information, see www.nordicmines.com.



170605 NOMI Press Release

2017-06-01 Nordic Mines AB: Notice of Annual General Meeting with editorial changes

Notice of Annual General Meeting of Nordic Mines AB (publ)

The Company's notice of annual general meeting is updated with editorial changes under item nine and eleven.  

The shareholders of Nordic Mines AB (publ), Corporate Registration Number 556679-1215 (the "Company") are hereby invited to the Annual General Meeting on Friday, 30 June 2017 at 1.30 p.m. at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm.

A.  Right to participate in the Meeting

Shareholders who wish to participate in the Meeting must be included in the shareholders' register maintained by Euroclear Sweden AB as of Friday, 23 June 2017, and notify the Company of their participation not later than 26 June 2017, preferably before 3 p.m., at the following address: Nordic Mines AB (publ), c/o Azets Insight AB Att. Ludmilla Lundberg, Box 34212, 100 26 Stockholm, per telefon +46 70 268 81 13, eller via e-post till ludmilla.lundberg@azets.net.

In their notification of attendance, shareholders must state their name, personal identification number or corporate registration number, address, telephone number, e-mail address, any assistants and shareholdings. Proxy forms for shareholders wishing to participate in the Meeting via proxy will be available on the Company's website www.nordicmines.com. Shareholders represented by proxy are to issue a dated power of attorney for the proxy. If the power of attorney is issued on behalf of a legal entity, a certified copy of a registration certificate or corresponding document for the legal entity is to be appended to the notification of attendance. The power of attorney and registration certificate should be sent to the Company at the aforementioned address well in advance of the Meeting. The power of attorney may not be more than five years old.

Shareholders whose shares are registered with a bank's custody services department or another nominee must temporarily re-register their shares in their own name with Euroclear Sweden AB to be able participate in the Meeting. Such re-registration must be completed by 23 June 2017, and the nominee must thus be informed well in advance of this date.

B.  Items of business at the Meeting Proposed agenda
1)   Opening of the Meeting
2)   Election of chairman of the Meeting
3)   Preparation and approval of the voting list
4)   Election of one or two persons to verify the minutes
5)   Determination of whether the Meeting has been duly convened
6)   Approval of the agenda
7)   Presentation of the annual accounts and the consolidated accounts as well as auditor's report and auditor's report on the consolidated accounts
8)   Resolution on:
a)  adoption of the income statement and balance sheet as well as consolidated income statement and consolidated balance sheet
b)  disposal of the Company's result in accordance with the adopted balance sheet; and
c)  discharge from liability of the members of the Board of Directors and the managing director
9)   Resolution on the number of Board members to be elected by the Meeting and the number of auditors and deputy auditors
10)  Resolution on fees to the Board members and the auditor
11)  Election of Board members, chairman of the Board of Directors and auditor
12)  Resolution on principles for remuneration to senior management
13)  Resolutions to:

  1. amend the articles of association; and
  2. decrease the Company's share capital

14)  Resolution to approve the Board of Directors resolution to issue new shares with preferential rights for shareholders
15)  Resolution to increase the Company's share capital through bonus issue
16)  Board of Directors' proposal for resolution regarding authorisation for the Board to make minor adjustments to resolutions made at the Meeting in conjunction with registration with the Swedish Companies Registration Office and Euroclear Sweden AB
17)  Closing of the Meeting

PROPOSALS FOR RESOLUTION

Item 8 b) - disposal of the Company's result in accordance with the adopted balance sheet
The Board of Directors propose that no dividend shall be paid for the financial year 2016. The net profit for the year and retained earnings shall be carried forward in an amount of SEK 97,529,000.

Item 9 - Resolution on the number of Board members to be elected by the Meeting and the number of auditors and deputy auditors
The individually largest shareholder Lau Su Holding AB proposes that the Board of Directors shall be comprised of five ordinary members for the time until the next Annual General Meeting.

The nomination committee proposes that the Company have a registered firm of accountants as its auditor.

Item 10 - Resolution on fees to the Board members and the auditor
The individually largest shareholder Lau Su Holding AB has proposed that the fee for members of the Board shall remain in accordance with the resolutions by the annual general meeting on 30 June 2016, meaning remuneration for the board of directors amounting to SEK 200,000 for independent directors per person and year and that dependent directors do not receive any remuneration.

The nomination committee proposes that fees to the auditor are to be paid according to approved invoice.

Item 11 - Election of Board members, chairman of the Board of Directors and auditor
Since the current Board of Directors have declined re-election, the individually largest shareholder Lau Su Holding AB proposes that Fredrik Zettergren, Denise Lagercrantz, Ludmilla Lundberg Pranay Panda and Göran Lundsten be elected new Board members. It is proposed that Fredrik Zettergren be elected chairman of the Board.

Fredrik Zettergren: Born 1969, is among the top lawyers in Sweden having been nominated three times within the field of Business Law to "The Lawyer among Lawyers". Among top seven hard won tax cases in Sweden, Fredrik has 2 wins on his list of merits. Fredrik has many years of judicial experience of large and complex cases in the field of Governance, Negotiations, Business & Taxation. He is currently a partner with Law Firm Zettergen & Lagercrantz and prior to which was a partner to Law Firm Fylgia AB. Fredrik has a Masters in Law and Bachelors in Arts in Military Science. He is a member of Swedish Bar Association. Fredrik is an independent candidate in relation to the Company and Management and dependent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Ludmilla Lundberg: Born 1955, Ludmilla Lundberg has more than 20 years of experience of working with compliance and IFRS reporting as Financial Controller and Chief Economist in large Swedish Groups & Publicly listed companies as ABB, Skanska, Vattenfall, SEB Asset Management & Visma. Ludmilla Lundberg has also been an acting CFO via Visma Services AB for Copperstone Resources AB listed at Nasdaq OMX First North.  Lau Su's focus will be to drive board focus on Governance and Ludmilla's experience in Accounting/Reporting functions with top Swedish Groups will go a long way in helping Nordic Mines achieve this. Sweden Resident, Ludmilla Lundberg is dependant in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Göran Lundsten: Born 1960, is a business lawyer currently as a partner in Hellstrom Law Firm prior to which he was a legal counsel to Skandia Insurance listed in NASDAQ OMX, Legal Counsel and Member of the Swedish Bar Association at Law Firm Manheimer Swartling & Audit Firm Aurthur Andersen. Göran has been a board member and company secretary on several boards of Insurance/Bank/Mutual fund and Financial securities' companies like Skandia listed in NASDAQ, Coop Bank, Gaming Corps AB (IT, gaming industry) listed on NASDAQ First North & Fair Investments AB (Asset Management). Göran's field of expertise is in Corporate and Financial Law with focus on financial and regulatory Issues advising companies which are regulated by the Financial Supervisory Authority and listed on regulated market. Goran has a Masters in Law from the Stockholm University. Goran Lundsten is independent in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Pranay Panda:  Born 1971, Pranay Panda is the current Chairman of Lau Su Holding AB, major shareholder of Nordic Mines. He has more than 20 years of experience out of which more than 15 years have been in Investing [Equity Capital Markets & Currency], Investment Management [Risk, Valuations, Mergers & Acquisitions, Post M&A Integration] both as an Entrepreneur in Transformational Deals and in Advisory with Deloitte, Bearing Point Inc. [Earlier KPMG Consulting] in Private Equity space. Around 5 years have been spent in Brand Planning in outfits like the DDB and Lowe group. Pranay has a MBA from Stockholm School of Economics in Sweden and a Bachelors Honors in applied Mathematics from University of Poona, India. Pranay Panda is actively involved with the boards of Lau Su Holding AB and Lau Su Investment AB. Pranay Panda is independent in relation to the Company and management and dependent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
123,010,854 shares indirectly through Lau Su Holding AB.

Denise Lagercrantz: Born 1980, Denise is a Public Defender and Counsel in the area of Business Law. Denise has great technical skills and competence in Business law proceedings where the evaluation of technical investigation & governance is becoming increasingly important. She is a Partner to Zettergren and Lagercrantz and earlier Lawyer to Law Firm Kerstin Koorti.  Denise has a Masters in Law from Stockholm University & is a member of the Swedish Bar Association . Denise Lagercrantz is independent in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

The nomination committee proposes, for the period until the end of the next Annual General Meeting, election of the authorized accounting firm KPMG AB as the Company's auditor. KPMG's proposal for principal auditor will be communicated by the Company before the Meeting.

Item 12 - Resolution on principles for remuneration to senior management
The Board of Directors has prepared a proposal for principals for the determination of remuneration and other employment terms for senior management. Senior management consists of the managing director and other senior executives of the Company and its subsidiaries. The Board of Directors proposes that the Meeting resolves on the following principles for remuneration and other employment terms for the Company's senior management.

The principles apply for employment agreements entered into subsequent to the resolution of the Annual General Meeting and also in such cases where changes are made to existing terms after such point in time. The proposal of the Board of Directors is based on the Company's remuneration level and remuneration structure for the senior management being in line with market practice.

Basic remuneration
The basic remuneration shall be individual and based on each individual's responsibility and role, as well as such individual's qualification and experience with the relevant position.

Variable remuneration
The variable remuneration for senior management in the Company shall be structured as a variable component of the total cash remuneration package and the criteria for the variable remuneration shall be related to the meeting of defined targets. The purpose of the variable remuneration is to promote the Company's long-term value creation. The criteria for the remuneration are to be reviewed annually by the Board of Directors to ensure that the targets are in line with the current business strategies. The proportion of the total remuneration consisting of the variable remuneration may vary depending on the position and may compose a maximum of 50 per cent of the basic remuneration if the relevant targets are met in full and shall be cash based. The remuneration plan shall also include a minimum performance level in relation to the targets, below which no variable remuneration shall be payable.

Other benefits
Other benefits, such as company car, health insurance etc., shall be of limited value in relation to other remuneration and be in line with what is considered market practice. In addition, participation in long-term incentive programmes, e.g. consisting of warrants, or shares in an employee fund or profit share fund, may be offered as a complement if appropriate and based on resolutions and principles from the General Meeting.

Pension
The senior management are entitled to pension benefits on market terms, where the pensionable income is based on the basic remuneration. Provisions for pensions may be made up to 35 per cent of the basic remuneration and, for the managing directors, of the severance pay.

Notice of termination period and severance pay
For the senior management who are employed by the Company, the termination notice period shall not exceed six month in the event of termination by the employee, and shall not exceed 12 month in the event of termination by the Company. In case of notice of termination, a member of the senior management may be entitled to a severance pay equivalent up to 12 month basic remuneration. The terms of employment shall also in other respects be in accordance with market practice.

Remuneration committee
A remuneration committee within the Board of Directors, appointed by the Board of Directors, shall prepare matters regarding remuneration and other employment terms of the managing director and other senior management, and present proposals to the Board of Directors for resolutions in such matters.

Deviation in individual cases
The Board of Directors shall have the right to deviate from these principles if there, in an individual case, are specific reason for such deviation. If such discrepancies occur, information of such and the reason for the discrepancy shall be presented at the next Annual General Meeting. All previously resolved, but not yet paid, remuneration to the senior management are in line with the abovementioned proposed principles.

Item 13 - Resolutions to a) amend the articles of association and b) decrease the Company's share capital

13 a) amendment of the articles of association
To enable the decrease of the Company's share capital under item 13 b) and the new share issue under item 14, the Board of Directors proposes that the Meeting resolves on the following amendments to the articles of association of the Company:
The provision in § 4 regarding the limits of the share capital of the Company is amended so that the share capital shall be no less than SEK 100,000,000 and no more than SEK 400,000,000.
The provision in § 5 regarding the limits of the number of shares of the Company is amended so that the number of shares shall be no less than 400,000,000 and no more than 1,600,000,000.

13 b) decrease of the Company's share capital
Furthermore the Board of Directors proposes that the Meeting resolves on a reduction of the Company's share capital by SEK 88,476,152.40. The reduction shall be effected without cancellation of shares. The reduction amount shall be allocated as non-restricted equity. The reduction is made in order to reduce the quota value of the shares to facilitate the issues of shares to be resolved in accordance with item 14. Following the reduction, the Company's share capital will amount to SEK 161,230,985.46 divided between 565,722,756 shares in total (prior to the new issue of shares), each share having a quota value of SEK 0.285.

The reduction is subject to the amendment to the articles of association in accordance with item 13 a) above.

The Meetings' resolution under item 13 a) - b) above shall be resolved upon as one decision. Such resolution requires, for its validity, that a minimum of two-thirds of the votes cast and the shares represented support the resolution.

Item 14 - Resolution to approve the Board of Directors resolution to issue new shares with preferential rights for shareholders

The Board of Directors proposes that the Meeting resolves to approve the Board of Directors' resolution as of 31 May 2017 to increase the Company's share capital with not more than SEK 69,098,994 by an issue of not more than 242,452,609 new shares.

The right to subscribe for shares in the new share issue shall with preferential rights be granted to those shareholders who on the record date for the new share issue are registered as shareholders of the Company. Each shareholder is entitled to preferential right to subscribe for shares in proportion to their existing holdings.

Seven (7) existing shares entitles the holder to three (3) newly issued shares. The subscription price per share is SEK 0.285.

In the event that all shares are not subscribed for with preferential rights, the Board of Directors shall, within the maximum limit of the new share issue, resolve on the allocation of shares not subscribed with preferential rights. Such allocation shall firstly be made to investors who have subscribed for shares with preferential rights, irrespectively if they were shareholders at the record date or not, and, in the event of oversubscription, in proportion to the number of subscription rights each investor have used for subscription of shares, and to the extent this is not possible, by drawing of lots. Allocation should secondly be made to others who have subscribed for shares without preferential rights and, in case of oversubscription, in proportion to the amount subscribed, and if this cannot be made, through drawing of lots.

The record date for determining the right to receive shares shall be 11 July 2017. Subscription with preferential rights shall be made by way of cash payment during the period from 13 July 2017 up to and including 27 July 2017. The Board of Directors shall be entitled to prolong the subscription period as well as the time of payment.

Application for subscription of shares not based on preferential rights shall be made on a separate subscription list during the period stated above. Payment for subscription without preferential rights shall be made through payment in cash no later than three (3) bank days after the contract notes evidencing the allocation of shares have been sent out. The Board of directors shall be entitled to prolong the subscription period as well as the time of payment. It is noted that the Board of directors has the right to approve payment by way of set-off in accordance with Chapter 13, Section 41 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)).

The new shares entitle to dividends for the first time on the first record date for dividend that take place after the new share issue has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.

Lau Su Holding AB has informed the Company of its intention to receive repayment of existing shareholder loans of USD 1,200,000, including accrued interest until 30 June 2017, by subscribing for shares in the new share issue. This corresponds to 16.1 per cent of the new share issue, if fully subscribed.

The new share issue is subject to the amendment to the articles of association and decrease of the Company's share capital in accordance with item 13 a) - b) above.

Item 15 - Resolution to increase the Company's share capital through bonus issue
To facilitate the registration of the Board of Directors' proposal on the share capital reduction pursuant to item 13 b) above, the Board of Directors propose that the Meeting resolves a bonus issue, without the issuance of shares, to increase the share capital by no more than SEK 50,942,384.54 by way of transfer from the Company's non-restricted equity. The Board of Directors shall be authorized to execute the transfer.

Item 16 - Board of Directors' proposal for resolution regarding authorisation for the Board to make minor adjustments to resolutions made at the Meeting in conjunction with registration with the Swedish Companies Registration Office and Euroclear Sweden AB
It is proposed that the Meeting authorises the Board of Directors or the party appointed by the Board of Directors to make minor adjustments to the resolutions passed at the Meeting should they be required in conjunction with registration with the Swedish Companies Registration Office or Euroclear Sweden AB.

C. Documents, disclosures and number of shares and votes etc
The Meetings' resolution under item 13 above requires, for its validity, that a minimum of two-thirds of the votes cast and the shares represented support the resolution.

Complete proposals for resolutions and other documentation under the Swedish Companies Act will be available at at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm, Sweden no later than three weeks before the Meeting and at the Company's website www.nordicmines.com. The documentation will, upon request, be sent free of charge to shareholders who have provided their postal address. The documents will also be available at the Meeting.

If requested by a shareholder and if the Board believes that such action can take place without any material harm to the Company, the Board and managing director are to provide disclosures about circumstances that may influence the assessment of an item of business on the agenda, circumstances that may affect the Company's financial position, the Company's relationship with another Group company and the consolidated financial statements.

The total number of shares and votes in the Company on the publication date of this notice was 565,722,756. The Company is not holding any own shares.

____________________
Stockholm in May 2017
Nordic Mines AB (publ)
The Board of Directors

For additional information, please contact:
Anneli Önneby
annelionneby@icloud.com
00 46 (0) 736-80 62 42

For more information about Nordic Mines, please visit www.nordicmines.com. Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:30 am CET on 1 June 2017.



Notice to Annual General Meeting in Nordic Mines AB

2017-06-01 Nordic Mines AB: Notice of Annual General Meeting

Notice of Annual General Meeting of Nordic Mines AB (publ)

The shareholders of Nordic Mines AB (publ), Corporate Registration Number 556679-1215 (the "Company") are hereby invited to the Annual General Meeting on Friday, 30 June 2017 at 1.30 p.m. at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm.

A.  Right to participate in the Meeting

Shareholders who wish to participate in the Meeting must be included in the shareholders' register maintained by Euroclear Sweden AB as of Friday, 23 June 2017, and notify the Company of their participation not later than 26 June 2017, preferably before 3 p.m., at the following address: Nordic Mines AB (publ), c/o Azets Insight AB Att. Ludmilla Lundberg, Box 34212, 100 26 Stockholm, per telefon +46 70 268 81 13, eller via e-post till ludmilla.lundberg@azets.net.

In their notification of attendance, shareholders must state their name, personal identification number or corporate registration number, address, telephone number, e-mail address, any assistants and shareholdings. Proxy forms for shareholders wishing to participate in the Meeting via proxy will be available on the Company's website www.nordicmines.com. Shareholders represented by proxy are to issue a dated power of attorney for the proxy. If the power of attorney is issued on behalf of a legal entity, a certified copy of a registration certificate or corresponding document for the legal entity is to be appended to the notification of attendance. The power of attorney and registration certificate should be sent to the Company at the aforementioned address well in advance of the Meeting. The power of attorney may not be more than five years old.

Shareholders whose shares are registered with a bank's custody services department or another nominee must temporarily re-register their shares in their own name with Euroclear Sweden AB to be able participate in the Meeting. Such re-registration must be completed by 23 June 2017, and the nominee must thus be informed well in advance of this date.

B.  Items of business at the Meeting Proposed agenda
1)   Opening of the Meeting
2)   Election of chairman of the Meeting
3)   Preparation and approval of the voting list
4)   Election of one or two persons to verify the minutes
5)   Determination of whether the Meeting has been duly convened
6)   Approval of the agenda
7)   Presentation of the annual accounts and the consolidated accounts as well as auditor's report and auditor's report on the consolidated accounts
8)   Resolution on:
a)  adoption of the income statement and balance sheet as well as consolidated income statement and consolidated balance sheet
b)  disposal of the Company's result in accordance with the adopted balance sheet; and
c)  discharge from liability of the members of the Board of Directors and the managing director
9)   Resolution on the number of Board members to be elected by the Meeting and the number of auditors and deputy auditors
10)  Resolution on fees to the Board members and the auditor
11)  Election of Board members, chairman of the Board of Directors and auditor
12)  Resolution on principles for remuneration to senior management
13)  Resolutions to:

  1. amend the articles of association; and
  2. decrease the Company's share capital

14)  Resolution to approve the Board of Directors resolution to issue new shares with preferential rights for shareholders
15)  Resolution to increase the Company's share capital through bonus issue
16)  Board of Directors' proposal for resolution regarding authorisation for the Board to make minor adjustments to resolutions made at the Meeting in conjunction with registration with the Swedish Companies Registration Office and Euroclear Sweden AB
17)  Closing of the Meeting

PROPOSALS FOR RESOLUTION

Item 8 b) - disposal of the Company's result in accordance with the adopted balance sheet
The Board of Directors propose that no dividend shall be paid for the financial year 2016. The net profit for the year and retained earnings shall be carried forward in an amount of SEK 97,529,000.

Item 9 - Resolution on the number of Board members to be elected by the Meeting and the number of auditors and deputy auditors
The individually largest shareholder Lau Su Holding AB proposes that the Board of Directors shall be comprised of four ordinary members for the time until the next Annual General Meeting.

The nomination committee proposes that the Company have a registered firm of accountants as its auditor.

Item 10 - Resolution on fees to the Board members and the auditor
The individually largest shareholder Lau Su Holding AB has proposed that the fee for members of the Board shall remain in accordance with the resolutions by the annual general meeting on 30 June 2016, meaning remuneration for the board of directors amounting to SEK 200,000 for independent directors per person and year and that dependent directors do not receive any remuneration.

The nomination committee proposes that fees to the auditor are to be paid according to approved invoice.

Item 11 - Election of Board members, chairman of the Board of Directors and auditor
Since the current Board of Directors have declined re-election, the individually largest shareholder Lau Su Holding AB proposes that Fredrik Zettergren, Denise Lagercrantz, Ludmilla Lundberg and Pranay Panda be elected new Board members. It is proposed that Fredrik Zettergren be elected chairman of the Board.

Fredrik Zettergren: Born 1969, is among the top lawyers in Sweden having been nominated three times within the field of Business Law to "The Lawyer among Lawyers". Among top seven hard won tax cases in Sweden, Fredrik has 2 wins on his list of merits. Fredrik has many years of judicial experience of large and complex cases in the field of Governance, Negotiations, Business & Taxation. He is currently a partner with Law Firm Zettergen & Lagercrantz and prior to which was a partner to Law Firm Fylgia AB. Fredrik has a Masters in Law and Bachelors in Arts in Military Science. He is a member of Swedish Bar Association. Fredrik is an independent candidate in relation to the Company and Management and dependent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Ludmilla Lundberg: Born 1955, Ludmilla Lundberg has more than 20 years of experience of working with compliance and IFRS reporting as Financial Controller and Chief Economist in large Swedish Groups & Publicly listed companies as ABB, Skanska, Vattenfall, SEB Asset Management & Visma. Ludmilla Lundberg has also been an acting CFO via Visma Services AB for Copperstone Resources AB listed at Nasdaq OMX First North.  Lau Su's focus will be to drive board focus on Governance and Ludmilla's experience in Accounting/Reporting functions with top Swedish Groups will go a long way in helping Nordic Mines achieve this. Sweden Resident, Ludmilla Lundberg is dependant in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Göran Lundsten: Born 1960, is a business lawyer currently as a partner in Hellstrom Law Firm prior to which he was a legal counsel to Skandia Insurance listed in NASDAQ OMX, Legal Counsel and Member of the Swedish Bar Association at Law Firm Manheimer Swartling & Audit Firm Aurthur Andersen. Göran has been a board member and company secretary on several boards of Insurance/Bank/Mutual fund and Financial securities' companies like Skandia listed in NASDAQ, Coop Bank, Gaming Corps AB (IT, gaming industry) listed on NASDAQ First North & Fair Investments AB (Asset Management). Göran's field of expertise is in Corporate and Financial Law with focus on financial and regulatory Issues advising companies which are regulated by the Financial Supervisory Authority and listed on regulated market. Goran has a Masters in Law from the Stockholm University. Goran Lundsten is independent in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

Pranay Panda:  Born 1971, Pranay Panda is the current Chairman of Lau Su Holding AB, major shareholder of Nordic Mines. He has more than 20 years of experience out of which more than 15 years have been in Investing [Equity Capital Markets & Currency], Investment Management [Risk, Valuations, Mergers & Acquisitions, Post M&A Integration] both as an Entrepreneur in Transformational Deals and in Advisory with Deloitte, Bearing Point Inc. [Earlier KPMG Consulting] in Private Equity space. Around 5 years have been spent in Brand Planning in outfits like the DDB and Lowe group. Pranay has a MBA from Stockholm School of Economics in Sweden and a Bachelors Honors in applied Mathematics from University of Poona, India. Pranay Panda is actively involved with the boards of Lau Su Holding AB and Lau Su Investment AB. Pranay Panda is independent in relation to the Company and management and dependent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
123,010,854 shares indirectly through Lau Su Holding AB.

Denise Lagercrantz: Born 1980, Denise is a Public Defender and Counsel in the area of Business Law. Denise has great technical skills and competence in Business law proceedings where the evaluation of technical investigation & governance is becoming increasingly important. She is a Partner to Zettergren and Lagercrantz and earlier Lawyer to Law Firm Kerstin Koorti.  Denise has a Masters in Law from Stockholm University & is a member of the Swedish Bar Association . Denise Lagercrantz is independent in relation to the Company and management and independent in relation to Major Shareholders in the Company.

Shareholdings in the Company:
No shares: 0

The nomination committee proposes, for the period until the end of the next Annual General Meeting, election of the authorized accounting firm KPMG AB as the Company's auditor. KPMG's proposal for principal auditor will be communicated by the Company before the Meeting.

Item 12 - Resolution on principles for remuneration to senior management
The Board of Directors has prepared a proposal for principals for the determination of remuneration and other employment terms for senior management. Senior management consists of the managing director and other senior executives of the Company and its subsidiaries. The Board of Directors proposes that the Meeting resolves on the following principles for remuneration and other employment terms for the Company's senior management.

The principles apply for employment agreements entered into subsequent to the resolution of the Annual General Meeting and also in such cases where changes are made to existing terms after such point in time. The proposal of the Board of Directors is based on the Company's remuneration level and remuneration structure for the senior management being in line with market practice.

Basic remuneration
The basic remuneration shall be individual and based on each individual's responsibility and role, as well as such individual's qualification and experience with the relevant position.

Variable remuneration
The variable remuneration for senior management in the Company shall be structured as a variable component of the total cash remuneration package and the criteria for the variable remuneration shall be related to the meeting of defined targets. The purpose of the variable remuneration is to promote the Company's long-term value creation. The criteria for the remuneration are to be reviewed annually by the Board of Directors to ensure that the targets are in line with the current business strategies. The proportion of the total remuneration consisting of the variable remuneration may vary depending on the position and may compose a maximum of 50 per cent of the basic remuneration if the relevant targets are met in full and shall be cash based. The remuneration plan shall also include a minimum performance level in relation to the targets, below which no variable remuneration shall be payable.

Other benefits
Other benefits, such as company car, health insurance etc., shall be of limited value in relation to other remuneration and be in line with what is considered market practice. In addition, participation in long-term incentive programmes, e.g. consisting of warrants, or shares in an employee fund or profit share fund, may be offered as a complement if appropriate and based on resolutions and principles from the General Meeting.

Pension
The senior management are entitled to pension benefits on market terms, where the pensionable income is based on the basic remuneration. Provisions for pensions may be made up to 35 per cent of the basic remuneration and, for the managing directors, of the severance pay.

Notice of termination period and severance pay
For the senior management who are employed by the Company, the termination notice period shall not exceed six month in the event of termination by the employee, and shall not exceed 12 month in the event of termination by the Company. In case of notice of termination, a member of the senior management may be entitled to a severance pay equivalent up to 12 month basic remuneration. The terms of employment shall also in other respects be in accordance with market practice.

Remuneration committee
A remuneration committee within the Board of Directors, appointed by the Board of Directors, shall prepare matters regarding remuneration and other employment terms of the managing director and other senior management, and present proposals to the Board of Directors for resolutions in such matters.

Deviation in individual cases
The Board of Directors shall have the right to deviate from these principles if there, in an individual case, are specific reason for such deviation. If such discrepancies occur, information of such and the reason for the discrepancy shall be presented at the next Annual General Meeting. All previously resolved, but not yet paid, remuneration to the senior management are in line with the abovementioned proposed principles.

Item 13 - Resolutions to a) amend the articles of association and b) decrease the Company's share capital

13 a) amendment of the articles of association
To enable the decrease of the Company's share capital under item 13 b) and the new share issue under item 14, the Board of Directors proposes that the Meeting resolves on the following amendments to the articles of association of the Company:
The provision in § 4 regarding the limits of the share capital of the Company is amended so that the share capital shall be no less than SEK 100,000,000 and no more than SEK 400,000,000.
The provision in § 5 regarding the limits of the number of shares of the Company is amended so that the number of shares shall be no less than 400,000,000 and no more than 1,600,000,000.

13 b) decrease of the Company's share capital
Furthermore the Board of Directors proposes that the Meeting resolves on a reduction of the Company's share capital by SEK 88,476,152.40. The reduction shall be effected without cancellation of shares. The reduction amount shall be allocated as non-restricted equity. The reduction is made in order to reduce the quota value of the shares to facilitate the issues of shares to be resolved in accordance with item 14. Following the reduction, the Company's share capital will amount to SEK 161,230,985.46 divided between 565,722,756 shares in total (prior to the new issue of shares), each share having a quota value of SEK 0.285.

The reduction is subject to the amendment to the articles of association in accordance with item 13 a) above.

The Meetings' resolution under item 13 a) - b) above shall be resolved upon as one decision. Such resolution requires, for its validity, that a minimum of two-thirds of the votes cast and the shares represented support the resolution.

Item 14 - Resolution to approve the Board of Directors resolution to issue new shares with preferential rights for shareholders

The Board of Directors proposes that the Meeting resolves to approve the Board of Directors' resolution as of 31 May 2017 to increase the Company's share capital with not more than SEK 69,098,994 by an issue of not more than 242,452,609 new shares.

The right to subscribe for shares in the new share issue shall with preferential rights be granted to those shareholders who on the record date for the new share issue are registered as shareholders of the Company. Each shareholder is entitled to preferential right to subscribe for shares in proportion to their existing holdings.

Seven (7) existing shares entitles the holder to three (3) newly issued shares. The subscription price per share is SEK 0.285.

In the event that all shares are not subscribed for with preferential rights, the Board of Directors shall, within the maximum limit of the new share issue, resolve on the allocation of shares not subscribed with preferential rights. Such allocation shall firstly be made to investors who have subscribed for shares with preferential rights, irrespectively if they were shareholders at the record date or not, and, in the event of oversubscription, in proportion to the number of subscription rights each investor have used for subscription of shares, and to the extent this is not possible, by drawing of lots. Allocation should secondly be made to others who have subscribed for shares without preferential rights and, in case of oversubscription, in proportion to the amount subscribed, and if this cannot be made, through drawing of lots.

The record date for determining the right to receive shares shall be 11 July 2017. Subscription with preferential rights shall be made by way of cash payment during the period from 13 July 2017 up to and including 27 July 2017. The Board of Directors shall be entitled to prolong the subscription period as well as the time of payment.

Application for subscription of shares not based on preferential rights shall be made on a separate subscription list during the period stated above. Payment for subscription without preferential rights shall be made through payment in cash no later than three (3) bank days after the contract notes evidencing the allocation of shares have been sent out. The Board of directors shall be entitled to prolong the subscription period as well as the time of payment. It is noted that the Board of directors has the right to approve payment by way of set-off in accordance with Chapter 13, Section 41 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)).

The new shares entitle to dividends for the first time on the first record date for dividend that take place after the new share issue has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.

Lau Su Holding AB has informed the Company of its intention to receive repayment of existing shareholder loans of USD 1,200,000, including accrued interest until 30 June 2017, by subscribing for shares in the new share issue. This corresponds to 16.1 per cent of the new share issue, if fully subscribed.

The new share issue is subject to the amendment to the articles of association and decrease of the Company's share capital in accordance with item 13 a) - b) above.

Item 15 - Resolution to increase the Company's share capital through bonus issue
To facilitate the registration of the Board of Directors' proposal on the share capital reduction pursuant to item 13 b) above, the Board of Directors propose that the Meeting resolves a bonus issue, without the issuance of shares, to increase the share capital by no more than SEK 50,942,384.54 by way of transfer from the Company's non-restricted equity. The Board of Directors shall be authorized to execute the transfer.

Item 16 - Board of Directors' proposal for resolution regarding authorisation for the Board to make minor adjustments to resolutions made at the Meeting in conjunction with registration with the Swedish Companies Registration Office and Euroclear Sweden AB
It is proposed that the Meeting authorises the Board of Directors or the party appointed by the Board of Directors to make minor adjustments to the resolutions passed at the Meeting should they be required in conjunction with registration with the Swedish Companies Registration Office or Euroclear Sweden AB.

C. Documents, disclosures and number of shares and votes etc
The Meetings' resolution under item 13 above requires, for its validity, that a minimum of two-thirds of the votes cast and the shares represented support the resolution.

Complete proposals for resolutions and other documentation under the Swedish Companies Act will be available at at the office of Azets Insight AB, Lindhagensgatan 94, Stockholm, Sweden no later than three weeks before the Meeting and at the Company's website www.nordicmines.com. The documentation will, upon request, be sent free of charge to shareholders who have provided their postal address. The documents will also be available at the Meeting.

If requested by a shareholder and if the Board believes that such action can take place without any material harm to the Company, the Board and managing director are to provide disclosures about circumstances that may influence the assessment of an item of business on the agenda, circumstances that may affect the Company's financial position, the Company's relationship with another Group company and the consolidated financial statements.

The total number of shares and votes in the Company on the publication date of this notice was 565,722,756. The Company is not holding any own shares.

____________________
Stockholm in May 2017
Nordic Mines AB (publ)
The Board of Directors

For additional information, please contact:
Anneli Önneby
annelionneby@icloud.com
00 46 (0) 736-80 62 42

For more information about Nordic Mines, please visit www.nordicmines.com. Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 am CET on 1 June 2017.



Notice to Annual General Meeting in Nordic Mines AB (publ)

2017-05-23 Nordic Mines AB: First Quarter Report 2017

First Quarter Report 2017

First quarter of 2017


· Revenues were SEK 0.3 million (SEK 0.0 million) as the Laiva Mine is on care and maintenance and not in production.
· The Company reported an operating loss of SEK -11.3 million (SEK -13.3 million Q1 2016).
· Loss after tax for the period amounted to SEK -11.8 million (SEK -13.4 million Q1 2016), corresponding to SEK -0.02. (SEK -0.02) per share.
· Cash and cash equivalents were SEK 1.3 million (SEK 2.9 million 31 December 2016) at the end of the period. Thus, the Company currently does not have sufficient funds to cover its needs for the next three months starting from the date of this report.
· Equity was SEK 478.0 million (SEK 489.7 million 31 December 2016) at the end of the period.
· On 9 January 2017, the Board of Directors of Nordic Mines cancelled the extraordinary general meeting, as they decided to take the necessary steps to carry out a rights issue of common shares to the Company's shareholders of approximately USD 5.0 million, subject to shareholders' approval.
· On 18 January, Nordic Mines appointed the investment bank, Evli Bank plc to lead a rights issue on behalf of the Company.
· On 18 January, the Company announced the resignation from the Board of Directors of Mr Pranay Panda with immediate effect.
· During the period, the Company secured a further SEK 3.8 million (USD 0.45 million) in shareholder loans from Lau Su Holding AB.
· On 15 March, the Company announced that it had resolved to undertake a rights issue for SEK 51 million at a subscription price of SEK 0.27 per share and to issue shares to Lau Su Holdings AB and Lao Tzu Investments AB on the same terms to offset their outstanding shareholder loans.

 Significant events after March 31, 2017


· On 10 April, Nordic Mines announced that it had signed a heads of agreement with the Canadian company Firesteel Resources Inc (TSXV: "FTR") whereby FTR will acquire a majority stake in the Laiva project by a combination of newly issued shares in Nordic Marknad AB ("NMM"), a wholly owned subsidiary of the Company, or buying shares in NMM from the Company. Under the terms of the transaction FTR will acquire 60% of NMM in two stages and fund the project back into production.
· The transaction with FTR is conditional on at least 40% of the Company's shareholders agreeing to support the transaction. At present approximately 17% of the Company's shareholders have expressed their support for the FTR transaction
· On 2 May, FTR lent the Company EUR 200,000 as an advance against the EUR 1.0 million which would have been used to allow Firesteel to acquire 10% of Nordic Mines Marknad AB
· On 8 May the shares of the Company were suspended from trading on the Nasdaq Stockholm Stock Exchange after it came to light that certain price sensitive information regarding the Company had appeared on the internet. Following publication of a market update from Nordic Mines on 9 May the shares resumed trading. 
· On 11 May Nordic Mines received written confirmation from the authorities in Finland that it will be allowed to treat ore and concentrates from third parties for up to 18% of the feed capacity of the high grade leaching circuit in the processing plant. This will allow up to 2% of total leaching capacity in the processing plant to be used for third party ore and concentrates subject to case by case approvals 
· Also on 11 May, the Company received an offer from Lau Su Holding AB, the Company's largest shareholder, to underwrite a SEK 69.1 million rights issue. 
· After evaluating the Company's choices the board of Directors decided that a rights issue underwritten by Lau Su was the most viable choice open to the Company. 
· The chairman, board of directors, CEO and the CFO have all decided to make their positions available and will all step down at an Extraordinary General Meeting which will be called shortly.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:30 CET on 23 May 2017.

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. For further information, see www.nordicmines.com.



2017 Q1 English

2017-05-15 Nordic Mines receives an offer to underwrite a rights issue

Nordic Mines receives an offer to underwrite a rights issue

On 11 May 2017, Nordic Mines AB (publ) ("Nordic Mines" or the "Company") received an offer from Lau Su Holding AB ("Lau Su"), the Company's largest shareholder, which holds 21.7% of the ordinary shares of Nordic Mines, to underwrite a rights issue to support the Company. The proposal is intended to replace the transaction with Firesteel Resources Inc ("Firesteel").

The key terms of Lau Su's proposal are:

  • SEK 69.1 million rights issue
  • Price set at 0.285SEK per share
  • USD 3.0 million of new investment by Lau Su
  • Conversion of USD 1.2 million of loans previously provided by Lau Su, plus interest at the rights issue price
  • USD1.0 million to be made available immediately by way of a short term loan to bridge the funding requirements of Nordic Mines
  • Lau Su to lead a debt consortium to provide a minimum of US$6m of debt financing secured against the Company's assets and the exclusive rights to the Company's gold production for 5 years
  • Lau Su to take control of the Company by way of having three out of four of the directors of the Company following the rights issue

The board of directors of Nordic Mines has responded to Lau Su regarding some of the terms of its proposal and will evaluate the proposal and any adjustments thereto on its merits. 

Nordic Mines has appointed financial advisers to assist the directors to evaluate the proposal and compare it to the proposed transaction with Firesteel, as announced on 10 April 2017 and updated on 9 May 2017.  The board of directors will make a recommendation to shareholders in due course.  In the meantime the Company continues to work to advance the transaction with Firesteel

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 15 May 2017.

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. For further information, see www.nordicmines.com.



20170515 NOMI Press Release

2017-05-11 Nordic Mines AB: Approval to process third party ores

Approval to process third party ores

On the 9th of May, 2017 after the release of the Market Update, the company received written confirmation that it will be allowed to treat ore and concentrates from third parties for up to 18% of the feed capacity of the processing plant's high grade circuit (a small portion of the capacity of the leaching circuit). This is subject to ensuring that the composition of the waste and discharge from the operations is not changed in any material way from that of the Laiva ore discharge. Furthermore, this approval is conditional on Nordic Mines submitting an analysis of ore and concentrates to be treated for approval at least four months prior to the planned processing of such ore and concentrates.

The permit is subject to a 30 day period where complaints may be made.

This confirms the Company's view that handling of all external materials would need to be applied with sufficient data, assays, leach tests, etc and would constitute a significant reporting burden for the Company. The environmental authorities may set new monitoring parameters depending on the quality of the external material.

Further, the Company would again note that

  1. There are few potential sources of material within a short enough distance from Laiva which would mean that third party material could be economically toll treated at the plant at Laiva;
  2. Nordic Mines currently has no offers of a supply of material to the plant; and,
  3. The plant cannot be operated economically with only a supply of third party material equating to 18% of the feed capacity of the processing plant's high grade circuit so would remain reliant on ore from the Laiva mine.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:30 CET on 11 May 2017.

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. For further information, see www.nordicmines.com



Nordic Mines - Press Release Approval to process third party ores

2017-05-10 Nordic Mines AB: Notice of Shareholder Meeting

Notice of Shareholder Meeting

As referred to in the earlier release, Nordic Mines Market Update, the Company confirms the details of the shareholder meeting below:

Date: 16 May 2017
Time: 16:30 to 18:30
Location: Locanda, Mäster Samuelsgatan 60, Stockholm, Sweden

Saradhi Rajan, CEO, will present as well as Michael Hepworth, CEO of Firesteel. Both will then be available for questions.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:30 CET on 10 May 2017.

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. For further information, see www.nordicmines.com.



20170510 Nordic Mines - Press Release Shareholder Meeting

2017-05-09 Nordic Mines AB: Nordic Mines Market Update

Nordic Mines Market Update

On the weekend of Saturday 6 May and Sunday 7 May 2017 it came to the attention of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") that certain confidential and price sensitive information had reached the public domain without the knowledge of the Company and was circulating on the Internet.  The Company duly informed the Nasdaq Stockholm Stock Exchange ("Nasdaq") before Nasdaq opened on 8 May 2017 and a trading halt was placed on the Company's shares.

With respect to the confidential information circulating on the Internet, Nordic Mines wishes to clarify the following:

  • On 4 May 2017, the Company received an email purporting to make a "counter offer" to the transaction with Firesteel Resources Inc. ("Firesteel") from Nordic Mines' largest shareholder, Lau Su Holding AB.  The offer was to underwrite a percentage of a new rights issue. The Lau Su's "counter offer" was not in a form which could be considered by the board of directors of the Company, principally because it lacked the reasonable detail that would be required by the Board to make a decision, in addition the Company asked Lau Su to clarify its sources of funding in the "counter offer" and to provide sufficient detail in the context of the Company and its future. The Company suggested that Lau Su remake the offer through a bona fide market counter part. The original "counter offer" which was made by email was then quickly withdrawn by Lau Su Holding AB.
     
  • Lau Su Holding AB has indicated that they intend to make a new, formal proposal this week. Should such an offer be received and be in a form which can be considered by the directors of Nordic Mines, it will be communicated to the market.
     
  • In late April 2017, Nordic Mines had a meeting with the environmental authorities in Finland about an application for permitting relating to toll treating third party material. This was an informal meeting without a formal outcome. The non-binding indication provided at the meeting was that the authorities may permit that 18% of the material fed into the process plant at Laiva could be supplied from third party sources.
     
  • Handling of all external materials would need to be applied with sufficient data, assays, leach tests, etc and would constitute a significant reporting burden for the Company. The environmental authorities may set new monitoring parameters depending on the quality of the external material. In addition, a new water cleaning system will be required to process external material.
     
  • Further, the Company would note that
     
    1. There are few potential sources of material within a short enough distance from Laiva which would mean that third party material could be economically toll treated at the plant at Laiva;
    2. Nordic Mines currently has no offers of a supply of material to the plant; and,
    3. The plant cannot be operated economically with only a supply of third party material equating to 18% of the plant's capacity so would remain reliant on ore from the Laiva mine.
       
  • Ore sorting: the Company believes that the use of laser ore sorting could make a material difference to the economics of the Laiva operation. The Company has disclosed all of the results received from the tests to-date.  More work is needed to determine whether to incorporate ore sorting into the Laiva flow sheet. Until such time as this work is done the Company can not conclusively state that ore sorting works.
     
  • The disclosed transaction with Firesteel has been approved by the directors of the Company, pending certain conditions precedent, as announced on 10 April 2017. The initial part of the transaction with Firesteel (where Firesteel will buy 10% of Nordic Mines Marknad for the sum of €1 million) is conditional upon the following "conditions precedent" :-
     
    • That the shareholders comprising the Lau Su group of shareholders support the FTR transaction by signing a voting support agreement. That Lau Su group sign a Standstill agreement in the context of its loans to the Company and agree to have its loans are repaid by Firesteel either in shares or cash at Firesteel's option.
    • That the Company allows the Firesteel Management, management control of the management of the Laiva mine pursuant to the terms of a management agreement the continuation of which is conditional upon the next C$20 million being invested into Nordic Mines Marknad.
    • That the Company would grant Firesteel and option in order to buy an additional 50% of Nordic Mines Marknad, subject to Firesteel investing a further C$20 million and pursuant to the terms of a shareholders agreement to be signed by the Company and an EGM, where the shareholders will be given the opportunity to vote on the Firesteel proposal.

         

  • The Company can confirm that pursuant to the announcement on the 10th of April 2017, that it is making good progress on the documentation and that the initial transaction is now pending the signature of the Lau Su group of shareholders all of whom have indicated with the exception of Lau Su itself that they will support the Firesteel Transaction, however and whilst Firesteel is yet to receive the signed voting support agreements as set out herein. Firesteel, as agreed with the Company, on 2 May 2017 sent the first installment of EUR 200,000 which is part of the EUR 1.0 million which will allow Firesteel to acquire 10% of Nordic Mines Marknad AB. Firesteel published a press release on May 3, 2017 stating that it has completed the first installment of EUR 200,000.
     
  • The Company has received many questions from shareholders seeking to clarify the Firesteel Transaction and it has posted a detailed Q&A on its website which further elaborates on the transaction with Firesteel.
     
  • The Company will give shareholders on record the opportunity to meet with  Board members and the Management, in addition to the CEO of Firesteel on Tuesday 16 May 2017 at a venue which it will confirm in the next 24 hours. The purpose of the meeting is to discuss the prospects for the Company and the Laiva Mine. If by then the Company has received Lau Su's "counter offer" then the Company will be happy to discuss the merits of each proposal with shareholders at the same forum.

The Company's cash position is constrained and the Company is in need of funding, to keep afloat. The Company has looked at numerous different options, but currently the only proposal it has is that of Firesteel. If other offers are made, the Board of the Company will off course evaluate them and propose the best solution for all shareholders.  

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:00 CET on 9 May 2017.

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. For further information, see www.nordicmines.com.



20170509 NOMI - Press Release Market Update

2017-04-28 Nordic Mines AB: Nomination Committee of Nordic Mines

Nomination Committee of Nordic Mines

The Annual General Meeting 2016 (the "AGM 2016") of Nordic Mines AB (publ) ("Nordic Mines") has resolved to establish a Nomination Committee for the Annual General Meeting 2017. The Nomination Committee comprises of Mr. Nikul Sarin, Mr. Ajay Anand, Mrs. Catharina Lagerstam, Mr. Fredrik Zettergren and Mr. Torbjörn Bygden, Mr. Zettergren and Mr. Bygden represent Lau Su Holding AB. Mrs. Catharina Lagerstam represents the minor shareholders of Nordic Mines. The composition of the Committee is as stipulated by the resolution of AGM 2016.

Mr. Ajay Anand has been appointed Chairman of the Nomination Committee.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 28th April 2017.

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. For further information, see www.nordicmines.com.



170428 NOMI Press Release Nominations Committee

2017-04-28 Nordic Mines AB (publ) publishes its 2016 Annual Report

The 2016 Annual Report for Nordic Mines AB (publ) is now available at the Company's website, www.nordicmines.com.

 

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 28th April 2017.

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. For further information, see www.nordicmines.com.



NOMI 2016 Annual Report English

2017-04-20 Nordic Mines AB: Management changes in Nordic Mines

Management changes in Nordic Mines

Nordic Mines AB (publ) announces the appointment of Ole Eikeland as spokesperson and head of Investor Relations in the Company.

Eikeland, a partner at Eikeland & Ravnaas AS, has vast experience from the international stock markets and corporate communication, previously working at Pareto Securities and as a Business Editor at Nettavisen in Oslo. Eikeland is in the best position to act as the spokesperson for the Company, in the important phase that the Company is currently in.

Nordic Mines' previous IR-consultant Rune Nordström has resigned from his position in Nordic Mines, due to future possible conflicts of interests between Nordic Mines and other clients Mr. Nordström is working with.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

Ole Eikeland: +47 900 60 666

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on 20th April 2017.

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. For further information, see www.nordicmines.com.



170420 NOMI Press Release IR ENG

2017-04-10 Nordic Mines AB: Nordic Mines Announces Transformational Transaction to Bring Laiva Back into Production

Nordic Mines Announces Transformational Transaction to Bring Laiva Back into Production

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has signed a heads of agreement with the Canadian company Firesteel Resources Inc (TSXV: "FTR") whereby FTR will acquire a majority stake in the Laiva project by a combination of newly issued shares in Nordic Marknad AB ("NMM"), a wholly owned subsidiary of the Company, or buying shares in NMM from the Company. FTR intends to make the investment necessary to take the Laiva project back into profitable production.  The highlights of the transaction are:

  • The Company will grant an option to FTR to acquire up to 60% of NMM, a wholly-owned subsidiary of the Company, subject to certain conditions precedent.
  • Under the terms of the transaction, FTR will acquire 10% of NMM within 30 business days, subject to certain conditons precedent, for an aggregate sum of €1million, €200,000 of which will be paid to the Company within 7 business days. 
  • FTR will then have the option to invest a further cash amount of Cdn $20 million by a combination of newly issued shares in NMM or buying shares in NMM from the Company in order to acquire a further 50% of equity in NMM. This option will be valid for 90 business days from the date that FTR acquire the initial 10% of NMM, and is subject to shareholder and regulatory approval and is further subject to the rules of the TSX Venture Exchange ("TSXV").
  • Upon completion by FTR of its option to acquire a further 50% of NMM: FTR will own 60% of NMM and Nordic Mines will hold 40% of NMM on a fully funded basis without further dilution at the Company level. FTR will then have the option for a further 12 months to acquire the final 40% of NMM at fair market value, which will be settled either by the issuance of new shares in FTR or in cash.
  • FTR is listed on the TSX Venture exchange in Canada. It is the Company's intention to engage with the team at FTR and bring them alongside Legacy Hill Resources in bringing the Laiva mine back into production as soon as possible.
  • The Board of Directors of Nordic Mines has resolved to cancel the EGM of 18 April 2017, to which the shareholders have been summoned to decide on a proposed rights issue. The decision to cancel the EGM has been taken because the Board of Directors of Nordic Mines has decided to pursue the transaction with FTR.  
  • Nordic Mines therfore gives notice that it has  cancelled the rights issue and EGM previously announced on 15 March 2017 and scheduled for 18 April 2017.

The transaction with FTR is further subject to the parties entering into definitive agreements.  Details of an EGM in Nordic Mines will be published when certain conditions precedent to the transaction have been fulfilled.

-The FTR team have many years of successful experience in rehabilitating gold mines. This transaction ensures that the Laiva project has access to the required funding and people necessary for a successful restart, says Saradhi Rajan CEO of Nordic Mines.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 April 2017 08.30 CEST.

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. For further information, see www.nordicmines.com.



20170410 NOMI Press Release

2017-03-15 Nordic Mines AB: NOTICE OF EXTRAORDINARY GENERAL MEETING IN NORDIC MINES AB (PUBL)

Notice of extraordinary general meeting in Nordic Mines AB (PUBL)

The shareholders of Nordic Mines AB (publ), org.nr 556679-1215 (the "Company") are invited to the extraordinary general meeting on Tuesday 18 April 2017 at 14:00 (CET), at Visma Services AB, Lindhagensgatan 94 in Stockholm.

Notification of attendance etc.

A shareholder, who wishes to participate at the general meeting, must:

  • be recorded as shareholder in the share register held by Euroclear Sweden AB on Monday 10 April 2017, and
  • notify the Company of his/her intention to attend the meeting, no later than Monday 10 April 2017, to address Nordic Mines AB (publ), c/o Advokatfirman Lindahl KB, Att. Sarah Rehnström, Box 1065, 101 39 Stockholm, Sweden, by telephone +46 8 527 70 882, or by email to bolagsstamma@lindahl.se.

The notification shall include the shareholder's full name, personal identification number or company registration number (or similar), address, daytime phone number, shareholding, and where applicable, details of assistants (maximum two), deputy or representative.

Nominee-registered shares

In order to be entitled to participate at the general meeting, shareholders whose shares are registered in the name of a nominee must re-register the shares in their own name in the share register kept by Euroclear Sweden AB. Such re-registration must be carried out on Monday 10 April 2017. This means that such shareholder should request re-registration with the nominee well in advance of this date.

Proxy

Shareholders who are represented by proxy shall issue a dated power of attorney for such representative. If the power of attorney is issued by a legal person, a certified copy of the certificate of registration or equivalent for the legal person must be enclosed with the power of attorney. The power of attorney's validity may not be more than five years from the issuance of the power of attorney. The original copy of the power of attorney together with any certificate of registration should be sent to the Company at the above stated address in ample time before the general meeting. The Company provides a form of power of attorney on request and this form of power of attorney is also available at the Company's website, www.nordicmines.com.

Proposed Agenda

1.         Opening of the general meeting and election of chairman

2.         Preparation and approval of voting list

3.         Election of one or two persons to verify the minutes

4.         Decision of whether the general meeting has been duly convened

5.         Approval of the agenda

6.         Resolutions to:

a.         amend the articles of association; and

b.         decrease the Company's share capital

7.         Resolution to approve the board of directors' resolution to issue shares and warrants (Units) with preferential rights for existing shareholders

8.         Resolution to approve the board of directors' resolution to issue shares and warrants (Units) with deviation from the existing shareholders' preferential rights

9.         Resolution to increase the Company's share capital through a bonus issue

10.      Resolution to decrease the Company's share capital

11.      Resolution on the number of board members

12.      Resolution on fees to the board members

13.      Election of board member

14.      Closing of the general meeting

Proposals for resolutions

Item 6 - Resolution to

a) amend the articles of association

To enable the decrease of the Company's share capital under item 6 b) and the share issues under items 7 and 8, the board of directors proposes that the general meeting resolves on the following amendments to the articles of association of the Company:

The provision in § 4 regarding the limits of the share capital of the Company is amended so that the share capital shall be no less than SEK 100,000,000 and no more than SEK 400,000,000.

The provision in § 5 regarding the limits of the number of shares of the Company is amended so that the number of shares shall be no less than 400,000,000 and no more than 1,600,000,000.

b) decrease the Company's share capital

The board of directors proposes that the general meeting resolves on a reduction of the company's share capital by maximum SEK 96,961,993.74. The reduction shall be effected without cancellation of shares. The reduction amount shall be allocated as non-restricted equity. The reduction is made in order to reduce the quota value of the shares to facilitate the issues of shares to be resolved in accordance with items 7 and 8. Following the reduction, the Company's share capital will amount to SEK 152,745,144.12 divided between 565,722,756 shares in total (prior to the new issues of shares), each share having a quota value of SEK 0.27.

The reduction is subject to the amendment to the articles of association in accordance with item 6 a) above.

The managing director, or any other person appointed by the board of directors, shall be entitled to make such minor amendments that are necessary to register the resolution with the Swedish Companies Registration Office (Sw. Bolagsverket) and Euroclear Sweden AB.

The general meetings' resolution under item 6 a)-b) above shall be resolved upon as one decision. Such resolution requires, for its validity, that a minimum of two-thirds of the votes cast and the shares represented support the resolution.

Item 7 - Resolution to approve the board of directors' resolution to issue shares and warrants (Units) with preferential rights for existing shareholders

The board of directors proposes that the general meeting resolves to approve the board of directors' resolution as of 15 March 2017 to increase the Company's share capital with not more than SEK 50,915,048.04 by an issue of not more than 188,574,252 new shares.

Further, the board of directors proposes that the general meeting resolves to approve the board of directors' resolution as of 15 March 2017, to issue not more than 188,574,252 warrants, entitling to subscription of not more than 188,574,252 shares in the Company, whereby the Company's share capital may, upon exercise of the warrants, increase with not more than SEK 50,915,048.04.

The issues shall be considered as one resolution and be conducted through issuance of so called Units (the "Rights Issue"). The Rights Issue shall be conducted on the terms set out below.

The right to subscribe for Units in the Rights Issue shall with preferential rights be granted to those who on the record date for the Rights Issue are registered as shareholders of the Company. Each shareholder is entitled to preferential right to subscribe for Units in proportion to their existing holdings.

One (1) existing share entitles the holder to one (1) Unit right. Three (3) Unit rights entitle the holder to subscribe for one (1) Unit, consisting of one (1) new share and one (1) warrant. One (1) warrant entitles to subscription of one (1) share in the Company. The subscription price per Unit is SEK 0.27. The warrants are issued without consideration.

In the event that all Units are not subscribed for with preferential rights, the board of directors shall, within the maximum limit of the Rights Issue, resolve on the allocation of Units not subscribed with preferential rights. Such allocation shall firstly be made to investors who have subscribed for Units with Unit rights, irrespectively if they were shareholders at the record date or not, and, in the event of oversubscription, in proportion to the number of Unit rights each investor have used for subscription of Units, and to the extent this is not possible, by drawing of lots. Allocation should secondly be made to others who have subscribed for Units without Unit rights and, in case of oversubscription, in proportion to the amount subscribed, and if this cannot be made, through drawing of lots.

The record date for determining the right to receive Unit rights shall be Thursday 27 April 2017.

Subscription with preferential rights shall be made by way of cash payment during the period from 2 May 2017 up to and including 16 May 2017. The board of directors shall be entitled to prolong the subscription period as well as the time of payment.

Application for subscription of Units not based on Unit rights shall be made on a separate subscription list during the period stated above. Payment for subscription without preferential rights shall be made through payment in cash no later than three (3) bank days after the contract notes evidencing the allocation of Units have been sent out. The board of directors shall be entitled to prolong the subscription period as well as the time of payment. It is noted that the board of directors has the right to approve payment by way of set-off in accordance with Chapter 13, Section 41 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)).

The new shares entitle to dividends for the first time on the first record date for dividend that take place after the Rights Issue has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB. The new shares issued after subscription with warrants entitle to dividends for the first time on the first record date for dividend that take place after the new shares has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.

One (1) warrant entitles the holder to subscribe for one (1) new share in the Company and the subscription price shall be the lower of SEK 0.27 and the share's quota value at the time of exercise.

Subscription of shares in the Company with warrants may take place during the period from and including 2 April 2018 up to and including 30 April 2018.

The managing director, or any other person appointed by the board of directors, shall be entitled to make such minor amendments that are necessary to register the resolution with the Swedish Companies Registration Office and Euroclear Sweden AB.

Lau Su Holding AB and Lao Tzu Investments AB have informed the Company of their intention to receive repayment of existing shareholder and short term loans of USD 1,200,000 and USD 250,000 respectively, including accrued interest until 16 May 2017, by subscribing for shares in the Rights Issue. This corresponds to 22.0 per cent and 4.7 per cent respectively, of the Rights Issue, if fully subscribed. The existing shareholder and short term loans of USD 1,450,000 in total, including accrued interest, accumulate to 26.7 per cent, of the Rights Issue, if fully subscribed.

The Rights Issue is subject to the amendment to the articles of association and decrease of the Company's share capital in accordance with item 6 a)-b) above.

Item 8 - Resolution to approve the board of directors' resolution to issue shares and warrants (Units) with deviation from the existing shareholders' preferential rights

If Lao Tzu Investments AB is not allocated at least 8,882,403 Units in the Rights Issue, the board of directors proposes that the general meeting resolves to approve the board of directors' resolution as of 15 March 2017 to increase the Company's share capital with not more than SEK 2,398,248.81 by an issue of not more than 8,882,403 shares. Further, the board of directors proposes that the general meeting resolves to approve the board of directors' resolution as of 15 March 2017, to issue not more than 8,882,403 warrants, entitling to subscription of not more than 8,882,403 shares in the Company, whereby the Company's share capital may, upon exercise of the warrants, increase with not more than SEK 2,398,248.81. The new issue shall be considered as one resolution and be conducted through issuance of so called Units on the following terms.

One (1) Unit consists of one (1) new share and one (1) warrant. One (1) warrant entitles to subscription of one (1) share in the Company. The subscription price shall be SEK 0.27 per Unit, which corresponds to the subscription price in the Rights Issue and equals the market price as estimated by the board of directors.

The right to subscribe for Units shall, with deviation from the existing shareholders' preferential rights, belong to Lao Tzu Investments AB, to enable Lao Tzu Investments AB to set-off short-term loans that Lao Tzu Investments AB has granted the Company. Vinod Sethi, the chairman of the Company, and Salim Govani, board member of the Company, are also board members of Lao Tzu Investments AB. Kari Langenoja, board member of the Company, is the chairman of Lao Tzu Investments AB.

Subscription shall be made on a subscription list on 19 May 2017 at the latest. Payment for the Units shall be made on 19 May 2017, at the latest, through payment in cash. The board of directors shall be entitled to prolong the subscription period as well as the time of payment. It is noted that the board of directors has the right to approve payment by way of set-off in accordance with Chapter 13, Section 41 of the Swedish Companies Act.

The board of directors shall resolve on the allocation of the Units subscribed for under this item. The board of directors may allocate up to 8,882,403 Units under this issue, with the deduction for the number of Units allocated to Lao Tzu Investments AB in the Rights Issue under item 7.

The new shares entitle to dividends for the first time on the first record date for dividend that take place after the new issue has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB. The new shares issued after subscription with warrants entitle to dividends for the first time on the first record date for dividend that take place after the new shares has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.

One (1) warrant entitles the holder to subscribe for one (1) new share in the Company and the subscription price shall be the lower of SEK 0.27 and the share's quota value at the time of exercise.

Subscription of shares in the Company with warrants may take place during the period from and including 2 April 2018 up to and including 30 April 2018.

The new issue is subject to the amendment to the articles of association and decrease of the Company's share capital in accordance with item 6 a)-b) above. The resolution under item 8 requires, for its validity, that a minimum of nine-tenths of the votes cast and the shares represented support the resolution.

Item 9 - Resolution to increase the Company's share capital through a bonus issue

To facilitate the registration of the board of directors' proposal on the share capital reduction pursuant to item 6 b), the board of directors proposes that the general meeting resolves a bonus issue, without the issuance of shares, to increase the share capital by no more than SEK 83,343,720.78 by way of transfer from the Company's non-restricted equity. The board of directors shall be authorised to execute the transfer.

Item 10 ­- Resolution to decrease the Company's share capital

The board of directors proposes that the general meeting resolves to decrease the Company's share capital by maximum SEK 83,343,720.78. The reduction shall be effected without cancellation of shares and the reduction amount shall be allocated as non-restricted equity. The reduction is made in order to facilitate subscription for new shares in the Company by the use of the warrants that are proposed to be issued under items 7 and 8. Apart from the reduction of share capital, the Company's restricted equity will not be affected. The reduction in share capital to be allocated as non-restricted equity requires authorisation from either the Swedish Companies Registration Office or a court of general jurisdiction.

The reduction is subject to the amendment to the articles of association in accordance with item 6 a) above.

The managing director, or any other person appointed by the board of directors, shall be entitled to make such minor amendments that are necessary to register the resolution with the Swedish Companies Registration Office and Euroclear Sweden AB.

Item 11 - Resolution on the number of board members

Lau Su Holding AB, the majority shareholder of the Company, has proposed that the number of members of the board of directors remains in accordance with the resolution by the annual general meeting on 30 June 2016, which is eight.

Item 12 - Resolution on fees to the board members

Lau Su Holding AB, the majority shareholder of the Company, has proposed that the fees to the board of directors remain in accordance with the resolutions by the annual general meeting on 30 June 2016, meaning remuneration for the board of directors amounting to SEK 200,000 for independent directors per person and year and that dependent directors do not receive any remuneration.

Item 13 - Election of board members

Lau Su Holding AB, the majority shareholder of the Company, has proposed that Fredrik Zettergren is elected board member, for the time until the end of the next annual general meeting. Fredrik Zettergren is dependent in relation to the Company's majority shareholder Lau Su Holding AB and hence, shall in accordance with item 13 not receive any board remuneration. It is noted that the other board members (Vinod Sethi, Hans Andréasson, Torsten Börjemalm, Salim Govani, Kari Langenoja, Saradhi Rajan and Krister Söderholm) are to remain as board members until the end of the next annual general meeting.

Fredrik Zettergren

Fredrik Zettergren is a Swedish citizen born 1969. Fredrik Zettergren is partner at the law firm Zettergren & Lagercrantz Advokatfirma. Fredrik Zettergren was previously partner and the chairman of the board of directors of Advokatfirman Fylgia. He has a Master of laws, LLM in Law and economics from Stockholm University and is a member of the Swedish Bar Association.

Fredrik Zettergren is independent in relation to the Company and its executive management and dependent in relation to major shareholders in the Company.

Information at the general meeting

Shareholders have the possibility to request information on circumstances which may affect the assessment of a matter on the agenda. Such information shall be provided by the board of directors or the managing director at the general meeting provided that such information may be given without any significant harm to the Company.

Number of shares and votes in the Company

At the date of this notice, the total number of shares and votes in the Company amounts to 565,722,756. The Company itself holds no shares in the Company.

Available documents

Complete proposals for resolutions and other documentation under the Swedish Companies Act will be available at Advokatfirman Lindahl's office with address Mäster Samuelsgatan 20, Stockholm, Sweden no later than 28 March 2017 and at the Company's website www.nordicmines.com. The documentation will, upon request, be sent free of charge to shareholders who have provided their postal address. The documents will also be available at the general meeting.

Stockholm in March 2017

Nordic Mines AB (publ)

The board of directors

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations:

rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:30 am CET on 15 March 2017.



Notice to EGM - Nordic Mines - 2017-03-15 - ENG

2017-03-15 Nordic Mines AB: Nordic Mines resolves on Rights issue of SEK 51 million and directed new issue

This press release may not be published or distributed, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zeeland, South Africa or in any other jurisdiction where such distribution would be prohibited by applicable law. The information in this press release may not be redistributed, reproduced or passed on in ways that conflict with applicable restrictions.

Nordic Mines resolves on Rights issue of SEK 51 million and directed new issue

On 15 March 2017 the Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") resolved, subject to the approval by a forthcoming extraordinary general meeting to be held on 18 April 2017, on a rights issue of shares and warrants (Units) (the "Rights issue"). Upon full subscription of the Rights issue, the Company will raise approximately MSEK 51 before issue expenses.

The Rights issue in summary:

  • On the record date for the Rights issue, shareholders in the Company will for each share held in the Company receive one (1) Unit right. Three (3) Unit rights entitles to subscription of one (1) Unit, consisting of one (1) share and one (1) warrant.
  • The subscription price is SEK 0.27 per Unit (corresponding to 0.27 SEK for each new share). The warrants are issued without consideration.
  • The warrant gives the right, during 2 April 2018 - 30 April 2018, to subscribe for one  (1) share at the lowest of the shares' quota value at the time the warrant is utilized and 0.27 SEK.
  • Upon full subscription of the Rights issue, Nordic Mines will raise approximately MSEK 51 before issue expenses.
  • The subscription period is 2 - 16 May 2017.
  • Upon full utilization of the warrants in April 2018, Nordic Mines will raise not more than approximately MSEK 51 before issue expenses, assuming a quota value of no more than 0.27 SEK.

Notice to the extraordinary general meeting to, inter alia, approve the decision of the issues, will be made public through a separate press release.

Lau Su Holding AB and Lao Tzu Investments AB have informed the Company about their intention to set-off existing shareholder and short term loans of USD 1,200,000 and 250,000 respectively, including accrued interest until 16 May 2017, by subscribing for Units in the Rights issue. This corresponds to 22.0 percent and 4.7 percent respectively of the Rights issue, if fully subscribed. The existing shareholder and short term loans of USD 1,450,000 in total, including accrued interest, accumulate to 26.7 percent, of the Rights issue, if fully subscribed.

Directed new issue

The Board of Directors also intends to propose the extraordinary general meeting to approve the Board of Directors' resolution on 15 March 2017 on a directed new issue to Lao Tzu Investments AB, a company controlled by the Company's Chairman, Vinod Sethi, which company is not a shareholder in the Company, but hasprovided the Company with a short term loan of USD 250,000 (the "Short Term Loan"). The Short Term Loan provided by Lao Tzu Investments AB, together with accrued interest until 16 May 2017, amounts to SEK 2,398,248.94 calculated with the exchange rate 9.03 SEK / 1.00 USD as per 28 February 2017 The Board of Directors has resolved on the directed new issue to allow Lao Tzu Investments AB to set-off the Short Term Loan against shares in the Company to the Subscription Price, in accordance with the terms of the Short Term Loan. The exchange rate when calculating the amount of the Short Term Loan to be set-off against shares in the Company shall be 9.03 SEK / 1.00 USD. The maximum size of the directed new issue is set to 8,882,403 shares and 8,882,403 warrants.

However, the directed new issue will be conditional upon that the Rights Issue being fully subscribed. Hence, the Board of Directors will in first hand allocate Lao Tzu Investments AB Units in the Rights Issue, and only allocate Lao Tzu Investments AB Units in the directed new issue if Lao Tzu Investments AB has not been able to set-off the Short Term Loan through subscription of Units in the Rights Issue.

Background and reasons for the Rights issue

Further development of Laiva and general corporate purposes. Detailed information will follow this announcement shortly.

Terms and conditions of the Rights issue

On the record date for the Rights issue, shareholders in the Company will for each share held in the Company receive one (1) Unit right. Three (3) Unit rights entitle to subscription of one (1) Unit, consisting of one (1) share and one (1) warrant. The subscription price is SEK 0.27 per Unit (corresponding to 0.27 SEK for each new share). The warrants are issued without consideration. The warrant gives the right to, during 2 April 2018 - 30 April 2018, subscribe for one (1) share at the lowest of the shares' quota value at the time the warrant is utilized and 0.27 SEK.

The Rights issue comprises in total a maximum of 188,574,252 shares and 188,574,252 warrants. The subscription period will be between 2 - 16 May 2017, or such later date as resolved by the Board of Directors of the Company. The prospectus for the Rights issue is estimated to be made public on 28 April 2017.

If the Rights issue is fully subscribed, the number of shares in Nordic Mines will increase by 188,574,252 to 754,297,008 shares in total and the share capital will increase by SEK 50,915,048.04. In addition there will be 188,574,252 warrants issued. Shareholders choosing not to participate in the Rights issue will have their respective holdings diluted by 25.0 percent, upon full subscription of the Rights issue, but will have a possibility to be economically compensated for the dilution effect by selling their respective Unit rights.

The Board of Directors will further propose the extraordinary general meeting to reduce the Company's share capital with maximum SEK 96,961,993.74 to SEK 152,745,144.12, without cancellation of shares.

The Board will also propose the extraordinary general meeting to resolve upon a bonus issue of maximum SEK 83,343,720.78, to enable to transfer additional funds to the share capital, without the issuance of new shares, with the effect that the share capital would be fully restored.

The Board of Directors will further propose the extraordinary general meeting to resolve on an adjustment of the Company's articles of association lowering limits of the share capital from SEK 200,000,000 - SEK 800,000,000 to SEK 100,000,000 - SEK 400,000,000, and amending the limits of the number of shares from 200,000,000 - 800,000,000 to 400,000,000 - 1,600,000,000.

In addition, the Board of Directors intends to propose the extraordinary general meeting to reduce the Company's share capital so that the quota value of the Company's share becomes SEK 0.27. However, such reduction of the share capital requires permission from the Swedish Companies Registration Office or the Swedish district court. 

The total Rights issue proceeds amount to a maximum of approximately MSEK 51 at full subscription before issue expenses.

Upon full utilization of the warrants in April 2018, Nordic Mines will raise not more than approximately MSEK 51 before issue expenses, the number of shares will increase with 188,574,252 and the share capital by SEK 50,915,048.04, assuming a quota value of no more than 0.27 SEK.

If the directed new issue to Lao Tzu Investments AB is fully subscribed, the number of shares in Nordic Mines will increase by 8,882,403 to 763,179,411 shares in total. The number of warrants, if the directed new issue is fully subscribed, increases by 8,882,403 to 197,456,655. However, as stated above, the directed new issue will be conditional upon the Rights issue being fully subscribed. Hence, the Board of Directors will in first hand allocate Lao Tzu Investments AB Units in the Rights issue, and only allocate Lao Tzu Investments AB Units in the directed new issue if Lao Tzu Investments AB has not been able to set-off the Short Term Loan through subscription of Units in the Rights issue.

Additional information

The Rights issue and the directed new issue are subject to the approval by the extraordinary general meeting in Nordic Mines. An extraordinary general meeting will be held on 18 April 2017, at 14:00 CET, at Visma Services AB, Lindhagensgatan 94 in Stockholm, Sweden. A notice to the meeting will be made public through a separate press release and will be available at the Company's website www.nordicmines.com.

Indicative timetable for the Rights issue

18 April 2017 Extraordinary general meeting
 

25 April 2017
Last trading day including Unit rights
 

26 April 2017
First trading day excluding the Unit rights
 

27 April 2017
 

The record date for participating in the Rights issue, i.e. shareholders that are registered in the share register on this date will receive Unit rights that entitle them to participate in the Rights issue
 

28 April 2017
Estimated date for publication of the prospectus
 

2 - 12 May 2017
Trading in Unit rights on Nasdaq Stockholm
 

2 - 16 May 2017
Subscription period with and without Unit rights
 

19 May 2017
Publication of the Rights issue's preliminary outcome

Financial and legal advisors

EVLI Bank is financial adviser and Advokatfirman Lindahl is legal adviser to Nordic Mines in connection with the Rights issue.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations:

rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

Nordic Mines AB (publ) is obligated to make this information public pursuant to the EU.

Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.30 am CET on 15 March 2017.

IMPORTANT INFORMATION

Publication or distribution of this press release in certain jurisdictions may be subject to restrictions according to law, and the people in jurisdictions where this press release has been made public or distributed should inform themselves and follow such legal restrictions. This press release does not contain and does not constitute or form part of an invitation to acquire or subscribe or a solicitation of any offer to buy or subscribe for shares or other securities in Nordic Mines.

This press release may not be published or distributed, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zeeland, South Africa or in any other jurisdiction where such distribution would be prohibited by applicable law. The information in this press release may not be redistributed, reproduced or passed on in ways that conflict with applicable restrictions. Failure to comply with these restrictions may constitute a violation of the United States Securities Act of 1933 ("Securities Act") or applicable laws of other jurisdictions.

Forward-looking statements

This press release contains certain forward-looking statements that reflect the Company's current perception and expectations regarding future events and financial and operational progress, including statements regarding the Rights Issue and statements regarding guidance, planning, prospects and strategies. Words such as "intends", "assesses", "expects", "plans", "estimates", "can", and other expressions that imply indications or predictions regarding future progress or trends and that are not based on historical facts, comprise forward-looking information. Even if the Company considers that these statements are based on reasonable assumptions and expectations, the Company cannot provide any guarantee that such forward-looking statements will materialize. As these forward-looking statements include both known and unknown risks and uncertainties, actual results may vary materially from those set forth in the forward-looking information. Forward-looking statements in the press release apply only at the time of publication of the press release and may be revised with out further notice. The Company does not undertake to publish updates or revisions of forward-looking statements as a result of new information, future events or similar, other than those stipulated by applicable legislation or stock market regulations.



170315 NM RIGHTS ISSUE PR ENG

2017-03-01 Nordic Mines AB: Republishing of the Year-End Report 2016 with editorial changes

Republishing of the Year-End Report 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") wishes through this press release announce that the company's year-end report for 2016 is being republished with editorial changes.

The tables on pages 11, 13 and 20 have been completed and an additional comment has been added on page 20.

Year-End Report 2016

                     

Fourth quarter of 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million Q4 2015) as the Laiva Mine is on care and maintenance and not in production.
  • The Company reported an operating loss of SEK -12.3 million (SEK -25.0 million Q4 2015).
  • Loss after tax for the period amounted to SEK -12.5 million (SEK 76.1 million Q4 2015), corresponding to SEK -0.02 (SEK 0.36) per share.
  • Cash and cash equivalents were SEK 2.8 million (SEK 3.5 million 30 September 2016) at the end of the period. Thus, the Company currently does not have sufficient funds to cover its needs for the next three months starting from the date of this report.
  • Equity was SEK 489.7 million (SEK 501.9 million 30 September 2016) at the end of the period.
  • Secured shareholder loans of SEK 4.5 million to fund the running costs of the Company.
  • On 19 October, the Company appointed Mr.Ola Wahlquist, ex Audit Partner of the Year 2015, Ernst & Young as a Senior Advisor. Mr Wahlquist is a subject matter expert in Risk Management, Compliance and Audit related issues.
  • On 25 October, Nordic Mines announced the appointment of Mr Tony Butler as CFO and Mr Rune Nordström, as its Head of Corporate Communications and Investor Relations.
  • On 27 October, Nordic Mines appointed Ludmilla Lundberg as Senior Advisor, Compliance & Reporting. Ludmilla comes with 20 years of experience in compliance and reporting
  • On 30 November, the Company announced a shareholder loan with Lau Su Holding AB and announced the Company's intention to hold an Extraordinary General Meeting to seek shareholder approval to amend the articles of association in order to create a new preferential class of shares and to approve a placement of USD1.5 million in a combination of preferential and ordinary shares to Lau Su Holding AB. On 9 January the Board of Directors resolved to cancel the Extraordinary General Meeting and the proposed financing in favour of pursuing alternative fundraising, on which see below.
  • On 21 December, the Company received assay results from the first batches of the Bjorkdal sorting test sample carried out in September. It is evident that optical sorting systems have the potential to transform the economics at the Laiva mine.  Whilst the forecast upgrades to 1.33 g/t were close to our best expectation, it is clear that further threshold optimization work needs to be carried out

Full Year 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million 2015) due to the production stop at the Laiva mine.
  • The Company reported an operating loss of SEK -37.2 million (SEK -92.3 million 2015).
  • Loss after tax for the period amounted to SEK -37.3 million (SEK 0.0 million 2015), corresponding to SEK -0.07 (SEK 0.00 2015) per share.
  • Total comprehensive income for the period was SEK -35.2 million (SEK -2.6 million 2015).

Significant events after December 31, 2016

  • On 9 January 2017, the Board of Directors decided to cancel the extraordinary general meeting discussed above. The decision was taken because the Board of Directors of Nordic Mines has decided to take necessary steps to carry out a rights issue of common shares to the Company's shareholders of approximately USD 5.0 million, subject to shareholders' approval.
  • On 18 January, Nordic Mines appointed the investment bank, Evli Bank plc to lead a rights issue on behalf of the Company.
  • On 18 January, the Company announced the resignation from the Board of Directors of Mr Pranay Panda with immediate effect.
  • The Company secured a further SEK 2.6 million (USD 0.3 million) in shareholder loans from Lau Su Holding AB.

 

Note

Nordic Mines is required to publish this information pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 1 March 2017, at 15:00 GMT.

 

For further information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations,
+46 70 602 65 20
Mail: rune.nordstrom@nordicmines.com

info@nordicmines.com



20170228 Year-End Report 2016 with editorial changes

2017-02-28 Nordic Mines AB: Year-End Report 2016

NORDIC MINES AB (publ)

Year-End Report 2016

     

Fourth quarter of 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million Q4 2015) as the Laiva Mine is on care and maintenance and not in production.
  • The Company reported an operating loss of SEK -12.3 million (SEK -25.0 million Q4 2015).
  • Loss after tax for the period amounted to SEK -12.5 million (SEK 76.1 million Q4 2015), corresponding to SEK -0.02 (SEK 0.36) per share.
  • Cash and cash equivalents were SEK 2.8 million (SEK 3.5 million 30 September 2016) at the end of the period. Thus, the Company currently does not have sufficient funds to cover its needs for the next three months starting from the date of this report.
  • Equity was SEK 489.7 million (SEK 501.9 million 30 September 2016) at the end of the period.
  • Secured shareholder loans of SEK 4.5 million to fund the running costs of the Company.
  • On 19 October, the Company appointed Mr.Ola Wahlquist, ex Audit Partner of the Year 2015, Ernst & Young as a Senior Advisor. Mr Wahlquist is a subject matter expert in Risk Management, Compliance and Audit related issues.
  • On 25 October, Nordic Mines announced the appointment of Mr Tony Butler as CFO and Mr Rune Nordström, as its Head of Corporate Communications and Investor Relations.
  • On 27 October, Nordic Mines appointed Ludmilla Lundberg as Senior Advisor, Compliance & Reporting. Ludmilla comes with 20 years of experience in compliance and reporting
  • On 30 November, the Company announced a shareholder loan with Lau Su Holding AB and announced the Company's intention to hold an Extraordinary General Meeting to seek shareholder approval to amend the articles of association in order to create a new preferential class of shares and to approve a placement of USD1.5 million in a combination of preferential and ordinary shares to Lau Su Holding AB. On 9 January the Board of Directors resolved to cancel the Extraordinary General Meeting and the proposed financing in favour of pursuing alternative fundraising, on which see below.
  • On 21 December, the Company received assay results from the first batches of the Bjorkdal sorting test sample carried out in September. It is evident that optical sorting systems have the potential to transform the economics at the Laiva mine.  Whilst the forecast upgrades to 1.33 g/t were close to our best expectation, it is clear that further threshold optimization work needs to be carried out

Full Year 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million 2015) due to the production stop at the Laiva mine.
  • The Company reported an operating loss of SEK -37.2 million (SEK -92.3 million 2015).
  • Loss after tax for the period amounted to SEK -37.3 million (SEK 0.0 million 2015), corresponding to SEK -0.07 (SEK 0.00 2015) per share.
  • Total comprehensive income for the period was SEK -35.2 million (SEK -2.6 million 2015).

Significant events after December 31, 2016

  • On 9 January 2017, the Board of Directors decided to cancel the extraordinary general meeting discussed above. The decision was taken because the Board of Directors of Nordic Mines has decided to take necessary steps to carry out a rights issue of common shares to the Company's shareholders of approximately USD 5.0 million, subject to shareholders' approval.
  • On 18 January, Nordic Mines appointed the investment bank, Evli Bank plc to lead a rights issue on behalf of the Company.
  • On 18 January, the Company announced the resignation from the Board of Directors of Mr Pranay Panda with immediate effect.
  • The Company secured a further SEK 2.6 million (USD 0.3 million) in shareholder loans from Lau Su Holding AB.

CEO's Statement

During the fourth quarter, Nordic Mines continued to make progress at the Laiva Project.

The primary Management focus over the past 2 quarters has been twofold. The first has been to explore ways to reduce the mining and processing of waste material, crucial in low grade gold deposits such as Laiva. The second is to plan a drill programme which will a) allow for the mining of wider sections than previously and b) to step out to expand the resource, develop new pits and reduce the strip ratio in the early production years.

Drilling will allow Management to establish the grade of the potentially immediately mineable resource and upgrade an element of the existing resource to mineable. It will also allow for accurate management of bench height and dip together with the associated strip.

Management conducted a lengthy laser optical sorting programme over two years culminating in a large sorting test at Mandalay's Bjorkdal Mine in Sweden in August 2016.  Optical sorting, in various forms, has been widely used in mining since the 1990's. Sorting is essentially a secondary strip.  We consider the results at Bjorkdal very successful: back calculated grades reporting to the mill have been upgraded by 45%. These results confirm that optical sorting of our quartz diorite and volcanic ores is likely to form an influential element of our plan to return the Laiva deposit to long term profitable production once funded.

The Laiva deposit strike length has been traced for over 8 kms. It is a relatively unexplored deposit to date and management is confident that there is potential to increase mineable resources significantly along strike and at depth; an opinion based on known mineralised and drilled outcrops and drill hole data from the historic 79,000 meters 499 hole drill programmes.

Funding
The Board of Directors of Nordic Mines is examining various strategic options available in order to create shareholder value and expedite taking the Laiva Mine back into production. We anticipate that some of these options will crystallize over the next month or two. The Board will announce the preferred way forward, as soon as possible.  The options range from dual listing in a second major stock market, partnering with prominent gold investors, an outright sale, executing a rights issue or a combination. Due diligence is being undertaken on some of these potential options. 

In the meantime, Lau Su Holdings AB ("Lau Su") intends to make a further shareholder loan to the Company of USD 0.5 million as a bridge to a larger financing.  Subject to terms and board approval, Lau Su has also indicated that it is prepared to underwrite a percentage of a proposed rights issue.  All of Lau Su's outstanding shareholder loans would be expected to convert into ordinary shares in the Company on the same terms as the rights issue. Nordic Mines hopes to make an announcement to the market shortly in this regard.

Results, fourth quarter 2016

Net sales were SEK 0.0 million (SEK 0.0 million) during the fourth quarter of 2016 and year to date as the Laiva mine remains on care and maintenance and is not in production.

Production costs amounted to SEK -3.8 million (SEK -2.7 million Q4 2015) during the last quarter of 2016. Even though there has not been any production during the quarter, the Company has maintained some of the organisation around the Laiva mine, for example for maintenance work and environmental supervision. The mine and the plant also have a number of fixed costs, for example balancing the water levels in the mining area, which remain even though the mine is not in production. Depreciation, amortisation and impairment losses for the fourth quarter of 2016 were SEK -3.5 million (SEK -5.8 million Q4 2015).

Sales and administration costs amounted to SEK -4.6 million (SEK -11.1 million Q4 2015).

The Company reported an operating result of SEK -12.3 million (SEK -25.0 Q4 2015).

Net financial items were SEK -0.2 million (SEK 101.0 million, primarily accumulated interest). The Company's income tax for the period has an impact on profit of SEK 0.0 million (SEK 0.0 million).

Loss for the period after tax amounted to SEK -12.5 million (SEK 76.1 million Q4 2015).

Cash flow and financial position

Cash flow from operating activities including changes in working capital for the fourth quarter of 2016 amounted to SEK -7.7 million (SEK -34.3 million Q4 2015). Net cash flow from the financing operations amounted to SEK 7.0 million (SEK 48.9 million Q4 2015) during the same period. Cash and cash equivalents at the end of the period amounted to SEK 2.9 million compared to SEK 3.5 million as of 30 September 2016. Therefore the Company does not currently have sufficient funds to cover its needs for the next three months at the date of this report. If external funds are not provided, it is the assessment of the Board that there is a high risk that the Company will be facing a liquidity deficit. However, the majority owner Lau Su has announced to the Board that they are strongly committed to fulfil the new management's funding needs for the Company going forward. For more information please refer to Liquidity Risks.

At the end of the period, the Group's equity was SEK 489.7 million, compared to SEK 501.9 million as of 30 September 2016. For risks related to the Company's equity, please refer to the Going Concern Principle. The equity/assets ratio was 88.7 per cent compared to 89.8 per cent as of 30 September 2016. Net debt was SEK 8.5 million compared to SEK 0.8 million as of 30 September 2016.

Investments

Since the Company is currently not conducting any mining operations at the Laiva mine, only smaller investments have been made. Net investments during the quarter amounted to SEK -0.0 million, compared to SEK 0.6 million during the same quarter of 2015.

Segment reporting

As per January 2013, the Group stopped using a segment division as there has only been one productive mine in Finland within the Group, and exploration work is currently limited to an administrative scope due to cost savings. The consolidated income statements and balance sheets have been reviewed and valued thereafter.

Employees

During the fourth quarter of 2016, the average number of employees was 16.

No serious accidents were reported during the period.

Exploration

Due to cost savings, Nordic Mine's exploration work was more or less suspended at the beginning of 2013. In total, capitalised exploration expenses as of 31 December 2016 amounted to SEK 64.7 million.

Mineral resource and mineral reserve, 1 January 2015, prepared by SRK Consulting UK Ltd

The tables below shows the most recent update to the Mineral Resource estimate that includes ore sorting that reduces the amount of waste rock and the previous Mineral Resource estimate without sorting.

Laiva Mineral Resource - With sorting (16 May 2016)

Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
Measured - - - -
Indicated 24,317,397 1.13 27,535 885,000
Measured + Indicated 24,317,397 1.13 27,535 885,000
Inferred 4,374,277 1.64 7,187 231,000

The mineral resource is reported at a cut off of 0.3 g/t.
The calculation of the mineral resource was based on an assumed five-year gold price of €1,225 per tr.oz (USD 1,400 per tr.oz).

Laiva Mineral Resource - Without sorting (1 January 2015)

Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
Measured - - - -
Indicated 15,970,000 1.52 24,300 780,000
Measured + Indicated 15,970,000 1.52 24,300 780,000
Inferred 3,220,000 2.08 6,700 215,000

The mineral resource is reported at a cut-off grade of 0.6 g/t.

The model for the calculation of the mineral resource is limited by an assumed gold price of €1,300 per troy ounce (USD 1,510 per troy ounce).

The reported mineral resource includes the mineral reserve shown below.

Laiva Mineral Reserve - Without sorting (1 January 2015)

Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
Proved - - - -
Probable 9,367,000 1.19 11,200 360,000
Proved + probable 9,367,000 1.19 11,200 360,000

The mineral reserve is reported at a cut-off grade of 0.6 g/t.

The calculation of the mineral reserve was based on an assumed five-year gold price of €1,020 per troy ounce (USD 1,184 per troy ounce).

For definitions, see the section Definitions in accordance with SveMin.

 

The gold market and price of gold

According to LBMA (London Bullion Market Association) gold fixing, the price of gold was listed at the beginning of the quarter per troy oz at USD 1,318.65 and EUR 1,175.27, and at the end of the quarter at USD 1,159.1 and EUR 1,100.03.

   

The Nordic Mines share

The Nordic Mines share has been traded on the Nasdaq Stockholm's Small Cap list since July 2008. The ticker symbol for the share is NOMI and the ISIN code is SE0007491105.

   
Shareholders

As per 30 December 2016, the number of shareholders in Nordic Mines amounted to approximately 13,000. The ten largest shareholders in the Company are listed in the table below.

Shareholders as at 30 December 2016 Number of shares Holdings %
EUROCLEAR BANK S.A/N.V, W8-IMY 143 801 629 25,42 %
STATE STREET BANK & TRUST COM., BOSTON 51 356 381 9,08 %
CBSG-PHILLIP SEC P/L-CL(INSTI NDVP) 47 754 771 8,44 %
FÖRSÄKRINGSAKTIEBOLAGET, AVANZA PENSION 18 069 220 3,19 %
NORDNET PENSIONSFÖRSÄKRING AB 7 084 479 1,25 %
SWEDBANK FÖRSÄKRING AB 6 360 547 1,12 %
HANDELSBANKEN LIV 4 746 245 0,84 %
HILMAND, BIRTE 4 600 000 0,81 %
CBLDN-UBS FINANCIAL SERVICES INC 4 129 996 0,73 %
MENDRIS, NICO 3 350 000 0,59 %
OTHER 274 469 488 48,52 %
Total 565,722,756 100%

Source: Euroclear

Share capital

As per 30 December 2016, the market capitalisation amounted to SEK 282.9 million divided between 565,722,756 shares with a quota value of SEK 0.5 each.

Equity amounted to SEK 489.7 million at 31 December 2016, compared to SEK 501.9 million at 30 September 2016.

Significant risks and uncertainties

All enterprise is associated with a certain degree of risk. Nordic Mines' operations must be assessed based on the risk, cost and difficulty that companies in the mining and exploration business often face. The risks in the majority of cases are such that the Company cannot protect itself from them.

The risk faced by mining and exploration companies is mainly associated with the outcome of the exploration itself, the production and the market price on the metal markets, but there is also risk associated with licensing issues related to exploration, processing and the environment.

The Group is also exposed to a number of financial risks: liquidity risk, credit risk, gold price risk and currency risk. The Board and Management attempt to address these risks by identifying, evaluating and mitigating the risks listed above where appropriate.

A more detailed analysis is available in the 2015 Annual Report as well as in the prospectus from 2015, which are available on the Company's website, www.nordicmines.se.

Liquidity risk

The Company currently does not have sufficient funds to cover its needs for the next three months at the date of this report. Cash and cash equivalents totalled SEK 2.9 million at the end of the fourth quarter 2016 and the Company basically does not have any income since production as the plant was closed, albeit there have been some modest timber sales in the fourth quarter. The Company is dependent on external capital contributions for continued operations.

The Company does not currently have the funds to restart operations at the Laiva mine. In order to fund the restart of the Laiva mine, a capital contribution in addition to existing cash and cash equivalents would be required. This capital contribution is intended to fund working capital related to the restart, initial investments and a liquidity reserve for unforeseen costs and administration. This funding is assumed to be a combination of debt financing and additional equity contributions.

If the Company fails to raise additional capital, there is a risk that a liquidity deficit will eventually occur. Given such a development, it is a risk that the Finnish composition plan would default, thus leading to a new reorganisation, bankruptcy or other winding down of the Company.

Composition plan Nordic Mines Oy

On 31 July 2014, the Uleåborg District Court decided to adopt the composition plan proposal filed with the court by the administrator for Nordic Mines' Finnish subsidiary. The composition plan includes conditions that allow the Company's creditors and the composition plan supervisor, attorney Hannu Ylönen from the Krogerus law firm, to apply for the composition to be revoked under certain conditions. Ground for termination include those related to the Group companies not fulfilling their payment obligations under the composition plan.

If Nordic Mines Oy breaches the composition plan, there is a risk that the Finnish composition plan will fail, which could lead to a new reorganisation, bankruptcy or other winding down of the Company. In the event the Finnish composition plan defaults, the relevant creditors' claims return to Nordic Mines Oy, at their full amount, and in the event of bankruptcy all shareholders will lose the entire amount of their previously invested share capital.

A more detailed analysis on the Composition plan in Nordic Mines Oy is available in the prospectus from 2015, which is available on the Company's website, www.nordicmines.se.

Gold price risk

Sales commenced in January 2012 and essentially have consisted of a single product, doré bars, containing gold, silver and copper. A decline in the price of gold could have a negative impact on the Group's future profit as well as a negative impact on the Company's possibilities for restarting operations at the Laiva mine.

Currency risk

Gold is quoted in USD, the majority of the costs occur in EUR and the Group is consolidated in SEK. Accordingly, the Company is directly dependent on exchange rates for these currencies. If USD strengthens against EUR, this has a positive effect. If EUR strengthens against SEK, this has a positive effect on sales, but a negative effect on costs.

Employees

Nordic Mines currently has a small organisation and is dependent on a number of key individuals. A limited expected lifetime and to date weak profitability for the Laiva mine can result in restricted opportunities to recruit key personnel once the mine restarts its operations.

Going concern principle

The Company currently does not have sufficient funds to cover its needs for the next twelve months at the date of this report. The Company basically has had no income since the production at the process plant was closed down, and it is therefore dependent on external capital contributions for its continued operation. For more information please refer to Liquidity Risks above.

There are no guarantees that external capital will be raised for continued operations. There are also no guarantees that, at the point in time when a decision must be made about the restart of operations, Nordic Mines will have sufficient liquidity to finance a restart of operations at the Laiva mine.

In a situation where it can no longer be assumed that the Group is a going concern, there is a risk that the Group's assets and the Parent Company's carrying amounts on receivables to Group companies and participations in subsidiaries will be subject to significant impairment losses.

Accounting principles

The consolidated accounts have been prepared in accordance with the International Financial Reporting Standards (IFRS) as endorsed by the EU and recommendation RFR 1 issued by the Swedish Financial Reporting Board on Supplementary Accounting Rules for Groups, which specifies the additions to the IFRS disclosures that are required as stipulated­ in the Annual Accounts Act. This financial report was prepared in accordance with IAS 34, Interim Financial Reporting. The Parent Company's financial statements are prepared in accordance with the Annual Accounts Act and RFR 2, Accounting for Legal Entities. The Group uses the same accounting principles as those described in the 2015 Annual Report. No new IFRS additions or regulations that affect the Group have entered into force.

Upcoming informational meetings and announcements
                            
Annual Report                                                            28 April 2017

Annual General Meeting                                         28 June 2017

---

Interim report Q1                                                        23 May 2017
Interim report Q2                                                        22 August 2017
Interim report Q3                                                        21 November 2017
Interim report Q4                                                        27 February 2018 (Year-End Report)


The Board of Directors and the Chief Executive Officer hereby confirm that this interim report gives a true and fair view of the Company's and the Group's operations, financial position and results of operations, and describes significant risks and uncertainties faced by the Company and the companies in the Group.

The report for October - December 2016 has not been reviewed by the Company's auditors.


 
Stockholm, 28 February 2016

NORDIC MINES AB (publ)

 
 
Vinod Sethi
Chairman of the Board

 
D. Saradhi Rajan
CEO and Director of the Board
Hans Andreasson
Director of the Board
Torsten Börjemalm
Director of the Board
Salim Govani
Director of the Board
Kari Langenoja
Director of the Board
  Krister Söderholm
Director of the Board

 

Note

Nordic Mines is required to publish this information pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 28 February 2016, at 8:00 a.m. GMT.

For further information, please contact:

D. Saradhi Rajan, CEO, +44 743 271 1564
Rune Nordström, Head of Corporate Communications and Investor Relations, +46 70 602 65 20
Mail: rune.nordstrom@nordicmines.com
info@nordicmines.com
 

Definitions according to SveMin

A Mineral Resource is a concentration of occurrences of materials in or on the earth's crust in such form, quality and quantity that is of interest financially and for which financially profitable extraction is deemed possible. The location, quantity, grade, continuity and other geological characteristics of a mineral resource are measured, estimated or interpreted based on specific geological facts, tests and knowledge. On the basis of its geological certainty, a mineral resource is classified into the following categories: inferred mineral resource, indicated mineral resource and measured mineral resource.

An Inferred Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be estimated with a low level of confidence. This is inferred from geological evidence, tests and assumed but not verified geological or grade continuity. It is based on information gathered using appropriate techniques through exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. The information is limited or of uncertain quality and reliability.

An Indicated Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be assumed with a reasonable level of confidence. It is based on information gathered using appropriate techniques through exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. However, this information is too inconsistent or inappropriately distributed to guarantee geological or grade continuity.

A Measured Mineral Resource is the part of a mineral resource for which the tonnage, density of occurrences, form, physical characteristics, grade and mineral content can be assumed with a high level of confidence. It is based on information gathered using appropriate techniques through detailed and reliable exploration and testing of, for example, outcrops, trenches, pits, workings and drill holes. This information is sufficiently consistent to prove geological and/or grade continuity.

A Mineral Reserve is the part of a measured or indicated mineral resource that is deemed to be economically feasible for extraction. This includes diluting material and losses which may occur when the material is mined. Appropriate assessments and studies have been conducted and modified taking into consideration realistic assumptions related to mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction can be reasonably justified. On the basis of their geological certainty, mineral reserves are classified into the following categories: probable mineral reserve and proven mineral reserve.

When using the term "mineral reserve", there is an expectation that studies have been conducted at the Pre-Feasibility level as a minimum, including a mining plan that is technically appropriate and economically viable.

A Probable Mineral Reserve is the part of an indicated or under some circumstances measured mineral resource for which extraction is economically viable. This includes diluting material and losses which occur when the material is mined. Studies at a minimum of the Pre-Feasibility level have been conducted and modified to take into consideration mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction can be reasonably justified.

A Proven Mineral Reserve is the part of a measured mineral resource for which extraction is deemed to be economically viable. This includes diluting material and losses which occur when the material is mined. Studies at a minimum of the Pre-Feasibility level have been conducted and modified to take into consideration mining, metallurgical, economic, marketing, legal, environmental, social and political factors. These assessments show on the reporting date that extraction is justified.



20170228 Year-End Report

2017-02-17 Nordic Mines AB: Clarification regarding the date for the quarterly financial report for the fourth quarter 2016

Clarification regarding the date for the quarterly financial report for the fourth quarter 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") wishes through this press release clarify that the quarterly financial report for the fourth quarter 2016 will be published on the 28th February 2017 at 09:00 CET.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:00 CET on 17th February 2017.

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. For further information, see www.nordicmines.com.



Nordic Mines press release 17 feb 2017

2017-01-18 Nordic Mines AB: Nordic Mines AB (publ) appoints Evli Bank plc to lead a rights issue

Nordic Mines AB (publ) appoints Evli Bank plc to lead a rights issue

Further to the decision of the Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") to take the necessary steps to carry out a rights issue of common shares, the Company announces that it has retained Evli Bank plc to lead the rights issue process.  Evli is an independent, private bank with a strong track of fundraising in Nordic capital markets.

The Company has also appointed Advokatfirman Lindahl KB, a leading Swedish law firm, to assist with the rights issue.  

A rights issue will be subject to shareholder approval, details of which as well as the proposed terms of the rights issue, will be announced in due course.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:00 am CET on 18 January 2017.

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. For further information, see www.nordicmines.com.



ENG NM Appoints Evli Lindahl PM 18 jan 2017

2017-01-18 Nordic Mines AB: Resignation of Mr Pranay Panda as a director of the board of Nordic Mines AB (publ)

Resignation of Mr Pranay Panda as a director of the board of Nordic Mines AB (publ)

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") announces that Mr Pranay Panda has resigned from the Board of Directors of the Company with immediate effect. He has played a critical  role on the board to date and the Company wishes to use his considerable talents to help the company. At this important juncture his joining the management of the company will greatly strengthen our capital markets capabilities.

Mr Panda will now lead the capital raising efforts for the company and focus on the capital markets function.

Lau Su Holdings AB participation in the board will now be represented by Fredrik Zettergren subject to shareholder approval at the EGM to be announced shortly.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:00 am CET on 18 January 2017.

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. For further information, see www.nordicmines.com.



Panda resigns from the board - Press release 18 january 2017

2017-01-09 Cancellation of Extraordinary General Meeting in Nordic Mines AB (publ)

From the Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") with reference to the notice of the Extraordinary General Meeting (EGM) issued on 29 November 2016.

The Board of Directors of Nordic Mines has resolved to cancel the EGM of 9 January 2017, to which the shareholders have been summoned to decide on an amendment of the articles of association.

This would have included the introduction of a new class of shares, preferential shares, and a directed issue of common shares and preferential shares to the Company's major shareholder, Lau Su Holding AB, and to Lao Tzu Investments AB.

The decision to cancel the EGM has been taken because the Board of Directors of Nordic Mines has decided to take necessary steps to carry out a rights issue of common shares to the Company's shareholders of approximately 5M USD. This is subject to shareholders' approval, details of which will be announced in due course.

For additional information, please contact:

Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

For more information about Nordic Mines, please visit www.nordicmines.com/.

Nordic Mines AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 am CET on 9 January 2017.

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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-12-21 Nordic Mines AB (publ): Encouraging Assay Results from sorting test work

On 26th September Nordic Mines ('The Company') announced the successful completion of a 70-ton sorting test at the Bjorkdal mine, Sweden. 25 tons of material was sent to two laboratories in Finland for sample preparation and assay.

We have now received assay results from the first batches of the Bjorkdal sorting test samples. Further assay results will be received in January.

We are very encouraged by the results to date. It is evident that optical sorting systems have the potential to transform the economics at the Laiva mine. However, there is room for improvement, both in sorter settings and washing for cleaner rock surfaces to facilitate quartz detection.

Whilst the forecast upgrades to 1.33 g/t are close to our best expectation, it is clear that further threshold optimization work needs to be carried out on the volcanics, the second of the ore types. Over aggressive threshold settings carried out on the volcanics during the tests, resulted in losses of gold in the waste, which with further adjustment of settings, we believe will be reduced. The settings used allowed mainly larger quartz particles to be sorted as ore and many of the smaller quartz particles were reported as waste.  By lowering the threshold settings for quartz in the ore type volcanics, more quartz including gold reports to the sorted ore stream.

Because optical sorting systems are in themselves a secondary strip, the exercise of going forward becomes a fine balance between increasing gold grade together with management of the waste fraction. Optimisation programs will continue even during the commercial phase. Table 1 presents the average result from the assays received. Further threshold tests are planned for the New Year.

Table 1. Average results from sorting test (including some preliminary assays)

Ore
Type
Pit Sorted
rock
size
mm
Sorter
feed
gold
grad
 g/t
Mass-%
Ore
after
sorting
Mass-%
Waste
after
sorting
Gold
upgrade
of ore
after
sorting
Gold
down-
grade
of
waste
after
sorting
Recovery
of gold
in the
sorting
plant
Number
of
Samples
Quartz
Diorite
North 50-100 0,73 30 % 70 % 130 % -50 % 65 % 4
Volcanics South 50-100 0,85 17 % 83 % 166 % -28 % 40 % 5
                   
One sample is outside expected gold grade range and not included in the average.      
                   
Quartz Diorite South 50-100 2,29 36 % 64 % 113 % -63 % 77 % 1

It is important to note that the sorted ore will make up less than 50 % of the feed to the plant. The majority of the ore feed to the process plant are particles finer than the sorted rock being below 50 mm in size.  The fines derive partly from blasting, when the ore is mined, and partly from two crushing steps before the ore is further treated. The gold grade in this finer material is much higher than in the material that goes to the sorter because it contains more gold bearing quartz. Quartz is brittle and breaks down easily when blasted and crushed so that quartz and hence gold will accumulate more readily in finer particles. Also reporting to the feed is grinding media which by definition is comprised of coarser rock pieces measuring up to 200 mm. These have a lower gold grade than the material going to the sorter. Together these three materials, sorted ore, fine particles and grinding media, make up the final feed to the plant.

Andrew Malim, Head of Laiva Mine Development comments
We are pleased to report that based on an average - run - of - mine grade of 0,95 g/t, we estimate an upgrade of 40% for the assayed sorted quartz diorite ore combined with fines and grinding media which would be reporting to the mill. Further assay results are due in January 2017. The use of optical sorting during our commercial production phase is expected to lower our cutoff grade and hence upgrade our mineable reserves. This will allow a bulk mining approach which will transform our base case economics and make Laiva a profitable mine at current gold prices.

Upgrading results are most affected by thresholds and the size of the ore fractions. Hence, for reasons explained in this Release, ongoing optimisation of the programs will be necessary prior to and during operations from which I believe further grade improvements are still achievable.

CEO's Commentary
The recent sorting tests at Bjorkdal confirm our belief that the use of optical sorting used in tandem with the existing new AG mill will significantly enhance the grade and quality of our mill feed and provide the basis of a profitable restart of mining operations at Laiva once refinanced. We would like to thank the dedication of our staff and the advice and input of our partners at Outotec. More testwork on the volcanics will take place in the coming months and we believe that further grade improvements are achievable with practice and experience. We look forward to keeping shareholders updated with our progress

For additional information, please contact: D. Saradhi Rajan, CEO: +44 207 993 5261 (switchboard) or Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 1.30 pm GMT on 21 December 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-11-30 NORDIC MINES AB (publ): Notice of extraordinary general meeting in Nordic Mines AB (PUBL)

The shareholders of Nordic Mines AB (publ), org.nr 556679-1215 (the "Company") are invited to the extraordinary general meeting on Monday 9 January 2017 at 10 am (CET), at Visma Services AB, Lindhagensgatan 94 in Stockholm.

Notification of attendance etc.

A shareholder, who wishes to participate at the general meeting, must:

  • be recorded as shareholder in the share register held by Euroclear Sweden AB on Monday 2 January 2017, and
  • notify the Company of his/her intention to attend the meeting, no later than Monday 2 January 2017, to address Nordic Mines AB (publ), c/o Advokatfirman Lindahl KB, Att. Sarah Rehnström, Box 1065, 101 39 Stockholm, Sweden, by telephone +46 8-505 165 00, or by email to info@nordicmines.com.

The notification shall include the shareholder's full name, personal identification number or company registration number (or similar), address, daytime phone number, shareholding, and where applicable, details of assistants (maximum two), deputy or representative.

Nominee-registered shares

In order to be entitled to participate at the general meeting, shareholders whose shares are registered in the name of a nominee must re-register the shares in their own name in the share register kept by Euroclear Sweden AB. Such re-registration must be carried out on Monday 2 January 2017. This means that such shareholder should request re-registration with the nominee well in advance of this date.

Proxy

Shareholders who are represented by proxy shall issue a dated power of attorney for such representative. If the power of attorney is issued by a legal person, a certified copy of the certificate of registration or equivalent for the legal person must be enclosed with the power of attorney. The power of attorney's validity may not be more than five years from the issuance of the power of attorney. The original copy of the power of attorney together with any certificate of registration should be sent to the Company at the above stated address in ample time before the general meeting. The Company provides a form of power of attorney on request and this form of power of attorney is also available at the Company's website, www.nordicmines.com.


Proposed Agenda

1. Opening of the general meeting and election of chairman

2. Preparation and approval of voting list

3. Election of one or two persons to verify the minutes

4. Decision of whether the general meeting has been duly convened

5. Approval of the agenda

6. Resolution to a) amend the articles of association to introduce a new class of shares, preferential shares, b) approve the board of directors' resolution to issue common shares with deviation from the shareholders' preferential rights, and c) approve the board of directors' resolution to issue new preferential shares with deviation from the shareholders' preferential rights

7. Closing of the general meeting


Proposals for resolutions

Item 6

a) Proposal to amend the articles of association to introduce a new class of shares, preferential shares

In order to introduce a new class of shares, preferential shares, and to complete the issues of shares under item b) and c) below, the board of directors proposes that the general meeting resolves to amend § 5 of the Company's articles of association so that the new wording will be as follows.

§ 5 Shares

5.1. Number of shares and class of shares

The number of shares shall be not less than 200,000,000 and not more than 800,000,000.

Two classes of shares may be issued: common shares and preferential shares.

Each common share entitles the holder to one (1) vote. Each preferential share entitles the holder to one-tenth (1/10) of a vote. Common shares and preferential shares may be issued corresponding not more than 100 per cent of the share capital.

5.2. Profit distribution

The preferential shares shall have preferential rights over the common shares to an annual dividend of SEK 0.044 per preferential share, paid out annually. The record date for payment of dividends shall be 15 June. In the event such day is not a banking day, i.e. a day that is not a Sunday, public holiday, Saturday, Midsummer's Eve, Christmas Eve or New Year's Eve, the record date shall be the closest preceding banking day. Payment of dividend on preference shares shall be made on the third banking day after the record date. The profit reported in the adopted balance sheet, which may be distributed in accordance with the provisions on protection of the company's restricted equity and the prudence rule stated in Chapter 17, Section 3 of the Swedish Companies Act, and which is an amount not exceeding what has been proposed by the Board as distribution of dividends, may not be exempt from dividends to preferential shareholders unless it has thus been decided by at least two-thirds of the representation of preferential shares at the annual general meeting. If no such dividends have been paid, or if only dividends of less than SEK 0.044 per preferential share have been paid for one or more years, the preferential shares shall then entitle their holders to, from the following year's distributable funds, also receive the Outstanding Sum (as per the definition, below) (including, to avoid any confusion, accrued Indexation Sum on the Outstanding Sum) before dividends on common shares may occur. If no dividends have been paid, or if only dividends of less than SEK 0.044 per preferential share have been paid for one or more years, the following year's annual general meeting will then decide on the distribution of annual payment of the Outstanding Sum. The preferential shares shall otherwise not entitle the holder to any dividends.

Each year, the difference between SEK 0.044 and the paid dividend per preferential share will be added to the Outstanding Sum (provided that the dividend decided at the annual general meeting is less than SEK 0.044 per preferential share). If the dividend per preferential share is made in accordance with a decision at a general meeting of shareholders other than the annual general meeting, the distributed amount per preferential share shall be deducted from the Outstanding Sum. The deduction shall occur as of the dividend payment date to preferential shareholders and shall thus be deemed equivalent to settlement of the portion of the Outstanding Sum that was first to arise. The Outstanding Sum shall be increased by a factor corresponding to an annual interest rate of eight (8) per cent ("Indexation Sum"), and the accrual start date shall be the date of payment for the dividend. Furthermore, the amount shall be based on the difference between SEK 0.044 and the paid dividend amount per preferential share on that same date of payment for the annual dividend.

5.3 Issues

For new share issues paid in cash or via offset, shareholders have pre-emption rights to the new shares in the following way: old shares shall entitle the holder to pre-emption rights on new shares of the same class; any shares not subscribed for by such eligible shareholders will be offered to all holders of shares and, in instances where the entire number of shares are not subscribed for via the latter offer, the shares will then be distributed amongst holders in relation to the number of shares they owned before and, to the extent that this not possible, through lottery.

For new share issues paid in cash or via offset of only one class of shares, shareholders have pre-emption rights to the new shares in relation to the number of shares they owned before.

For issues of warrants in exchange for cash or via offset, shareholders have pre-emption rights to subscribe for warrants as if the issue pertained to the shares that could possibly be newly subscribed for because of the warrant. Likewise, for issues of convertibles in exchange for cash or via offset, shareholders have pre-emption right to subscribe for convertibles, as if the issue pertained to the shares that the convertibles could possibly be exchanged for.

The above provisions shall not in any way limit the ability to make decisions on issues of shares, warrants or convertibles with deviation from the shareholders' preferential rights.

An increase in share capital through a bonus issue may only occur through the issuance of common shares. In such instances, the bonus shares will be distributed amongst common shareholders according to the number of common shares owned before. The foregoing shall not impose any restriction on the possibility of, via a bonus issue or requisite change to the articles of association, issue shares of a new class.

5.4 Preferential share conversion clause

Holders of preferential shares shall have the right, but not the obligation, to require that preferential shares are converted to common shares. The conversion request must be submitted in writing to the board of directors and it must state the number of preferential shares that are to be converted to common shares and, if the request does not apply to the entire holding, which preferential shares the conversion pertains to.

The company must immediately notify the Swedish Companies Registration Office so that the conversion can be registered in the Register of Companies. The conversion is completed once registration has occurred and is recorded in the CSD register.

5.5 Preferential shares redemption

The first general meeting held after 29 November 2019 may resolve on a reduction of share capital, via redemption of preferential shares, however not below the minimum amount, in accordance with the following grounds.

The general meeting of shareholders decides the number of preferential shares to be redeemed. Exactly which preferential shares will be redeemed is decided at the general meeting by lottery. If the decision is supported by all preferential shareholders, however, the general meeting may decide which preferential shares will be redeemed.

Holders of a preferential share that has been ordered for redemption shall be obliged to accept payment for the share at an amount calculated as the sum of SEK 0.55 plus any Outstanding Sum as per item 5.2 (including, to avoid any confusion, accrued Indexation Sum on the Outstanding Sum up to and including the date when payment of the redemption amount falls due).

This shall occur either three months after the holder has been notified of the redemption decision, or, in instances where court approval for the decrease is required, three months after the holder has been notified of the fact that the court's legally binding decision approving the redemption has been registered. From the day when payment of the redemption amount falls due, all calculations of interest shall cease thereafter.

5.6 Redemption or conversion in the event of Change of control

In the event of a change of control, which means that a legal or natural person acquires more than 50 per cent of the shares or votes of the company, the owner of preferential shares has the right to request either:

1. that each of the owner's preferential shares are converted to common shares, or

2. that each of the owner's preferential shares shall be redeemed by the company to a redemption price equal to 130 per cent of the sum of SEK 0.55 plus any Outstanding Sum as per item 5.2 (including, to avoid any confusion, accrued Indexation Sum on the Outstanding Sum up to and including the date when payment of the redemption amount falls due).

The company shall undertake actions to meet such request as soon as possible after the receipt of such request.

b) Proposal to approve the board of directors' resolution to issue common shares with deviation from the shareholders' preferential rights

The board of directors proposes that the general meeting resolves to approve the board of directors' proposal as of 29 November 2016, to increase the Company's share capital with not more than SEK 3,684,403.54 by an issue of not more than 8,347,182 common shares in accordance with the following conditions.

1. The right to subscribe for new common shares shall, with deviation from the shareholders' preferential rights, belong to Lau Su Holding AB, corp. reg. no 556860-5421.

2. The reason for the deviation from the shareholders' preferential rights is to raise capital for the financing of the Company's business and that the board of directors considers a directed share issue favorable compared to other options for capital procurement.

3. Subscription shall be made on a subscription list on 17 January 2017. The board of directors shall have the right to extend the subscription period.

4. The new common shares are issued at a subscription price of SEK 0.55 per share.

5. The subscription price for the new common shares equals the market price as estimated by the board of directors.

6. Payment for new common shares shall be made on 17 January 2017 through payment in cash. The board of directors shall have the right to extend the payment period.

7. The new common shares entitle to dividends for the first time on the first record date for dividend that take place after the issue of new common shares has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.

8. The managing director, or any other person appointed by the board of directors, shall have the right to take those smaller measures that may be required in order to register the resolution with the Swedish Companies Registration Office and Euroclear Sweden AB.

c) Proposal to approve the board of directors' resolution to issue new preferential shares with deviation from the shareholders' preferential rights

The board of directors proposes that the general meeting resolves to approve the board of directors' proposal as of 29 November 2016, to increase the Company's share capital with not more than SEK 14,737,613.73 by an issue of not more than 33,388,727 preferential shares in accordance with the following conditions.

  1. The right to subscribe for new preferential shares shall, with deviation from the shareholders' preferential rights, belong to the following, with the stated allocation:

Lau Su Holding AB, corp. reg. no 556860-5421 has the right to subscribe for not more than 29,215,136 preferential shares.

Lao Tzu Investments AB, corp. reg. no 556752-3021 has the right to subscribe for not more than 4,173,591 preferential shares.

  1. The reason for the deviation from the shareholders' preferential rights is to raise capital for the financing of the Company's business and that the board of directors' considers a directed share issue favorable compared to other options for capital procurement.
  2. Subscription shall be made on a subscription list on 17 January 2017. The board of directors shall have the right to extend the subscription period.
  3. The new preferential shares are issued at a subscription price of SEK 0.55 per share.
  4. The subscription price for the new preferential shares equals the market price as estimated by the board of directors.
  5. Payment for new preferential shares shall be made on 17 January 2017 through payment in cash. The board of directors shall have the right to extend the payment period.
  6. The new preferential shares entitle to dividends for the first time on the first record date for dividend that take place after the issue of new preferential shares has been registered with the Swedish Companies Registration Office and been recorded in the share register kept by Euroclear Sweden AB.
  7. The managing director, or any other person appointed by the board of directors, shall have the right to take those smaller measures that may be required in order to register the resolution with the Swedish Companies Registration Office and Euroclear Sweden AB.

Documents in accordance with Chapter 13, Section 6 of the Swedish Companies Act are attached as Appendix A-B.

The general meetings' resolution under item a) to c) above shall be resolved upon as one decision.

The resolution under item a) to c) above requires support from shareholders with no less than 9/10 of votes and shares represented at the meeting.

Information at the general meeting

Shareholders have the possibility to request information on circumstances which may affect the assessment of a matter on the agenda. Such information shall be provided by the board of directors or the managing director at the general meeting provided that such information may be given without any significant harm to the Company.

Number of shares and votes in the Company

At the date of this notice, the total number of shares and votes in the Company is 565,722,756. The Company itself holds no shares in the Company.

Available documents

Complete proposals for resolutions and other documentation under the Swedish Companies Act will be available at Advokatfirman Lindahl's office with address Mäster Samuelsgatan 20, Stockholm, Sweden no later than Monday 19 December 2016 and at the Company's website www.nordicmines.com. The documentation will, upon request, be sent free of charge to shareholders who have provided their postal address. The documents will also be available at the general meeting.

Stockholm in November 2016

Nordic Mines AB (publ)

The board of directors



Notice of extraordinary general meeting in Nordic Mines AB (PUBL)

2016-11-30 NORDIC MINES AB (publ): Extra general meeting

The shareholders of Nordic Mines AB (publ), org.nr 556679-1215 are invited to the extraordinary general meeting on Monday 9 January 2017 at 10 am (CET), at Visma Services AB, Lindhagensgatan 94 in Stockholm.

For more information about Notification of attendance etc. se www.nordicmines.com.

For additional information, please contact: D. Saradhi Rajan, CEO: +44 207 993 5261 (switchboard) or Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of D. Saradhi Rajan, at 10.00 AM GMT, 30th November 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-11-30 NORDIC MINES AB (publ): Financial remodelling with the aim to restart the mine 2017, introduces a new share class and conducts directed new share issues of SEK 23 million

Nordic Mines is planning to re-model the value chain financially and operatively by outsourcing the processing plant operations through a lease model. By doing this, it becomes capital efficient, reduces risk, and generates margins of 38 percent on a base gold price scenario of USD 1080/ounce. The approach is to make Nordic Mines "do much more with much less" and start production during 2017. The board of directors of Nordic Mines has further, subject to approval by an extraordinary general meeting, resolved to issue common shares and preferential shares for SEK 23 million. The preferential shares are to be introduced by a change in Nordic Mines articles of association, which is proposed to be resolved upon by the extraordinary general meeting.

  • Nordic Mines plans to re-model the value chain at Laiva and re-calibrating margins by separating upstream (mining operations) and down stream (processing plant) activities.
  • As part of the target operating model, Nordic Mines plans to outsource (a) Processing plant operations and (b) Gold off-take to an Indian based gold trading player with a fixed margin, in line with industry standard in the gold trading business, resulting in  a USD 400/ounce cost-outsourcing.
  • The model has been designed for a threshold annual production of 1200 kgs, and would be executed through a 10-year processing plant lease model with the outsourcing partner.
  • Nordic Mines value chain transformation aims at rewarding the residual mining operations with a significantly improved margin and reducing sensitivity of its profitability to gold price movements. This transformation program enables profitable production within 2017.
  • The board of directors of Nordic Mines has resolved to, subject to approval by an extraordinary general meeting, issue common shares and preferential shares, directed to the current shareholder Lau Su Holding AB and to Lao Tzu Investments AB.

Nordic Mines is in discussions with U.A.E based Viren Jewellers LLC (Turnover USD 3,5B) and Indian based Swarn Shilp Pvt Ltd (Annual turnover USD 700M), gold trading players of repute, to negotiate an outsourcing contract for gold-ore processing and gold off-take, which would be executed through a 10-year operative lease of processing plant at a flat lease cost of USD 400/ounce.

Nordic Mines intends to mandate accounting and payroll outsourcing advisory firm Visma Services AB, who along with Ola Wahlquist senior advisor at Nordic Mines, former senior partner at Ernst &Young, will work closely to formulate the lease outsourcing agreement in lines with IFRS (International Financial Reporting Standards) best practices, and help Nordic Mines establish the outsourcing structure on ground.

The transformed operating model is aimed at both increasing efficiency by 20 percent and improving Nordic Mines gross margin to around 38 percent at base case gold price of USD 1080/ounce.

Nordic Mines has already documented a 20 percent increase in business efficiency by improving costs by USD 100 each accruing from mine operations and processing plant operations (total USD 200/ounce). India is the largest consumer of gold in the world. Reliable and consistent supply has been a constraint for a lot of the gold traders in India. It makes imminent business sense to direct our production to India. The off-take model enables Nordic Mines to pass significant cash-cost risks to its gold trading partners. This substantially improves production margins. Moreover, the profitability scenario is considerably less sensitive to gold price movements and improves viability even in downturns.

Nordic Mines estimates an additional funding requirement of USD 5M to establish the leased outsourcing model. Funds will be primarily deployed towards start-up mining costs, composition plan exit, implementing the measures identified to deliver 20 percent efficiency pre-outsourcing, legal structuring, and applying sorting technology to the waste dump to process gold from the existing stockpile by installing a sorting pilot plant.

- It is doing much more with much less innovation. It minimizes risk in a capital-intensive industry. Our approach is to make Nordic Mines capital efficient by customer facing the mine to the Indian market, says Chairman Vinod Sethi.

- Executing this model will be a breakthrough. We as investors have the conviction on this model. Out of the additional USD 5M equity required to put the model in place, the current USD 2M equity arrangement from Lau Su Holding AB and our USD 0,75M existing shareholder debt conversion to equity means lead promoters have already underwritten more than 50 percent of the equity requirement for gold production targeted to commence within 2017. Although we have shareholder group interests for the gap of USD 2M as well on this model, we would prefer some institutional presence in Nordic Mines balance sheet, says Lau Su Holding's Pranay Panda.  

The past six months of work around sorting does indicate the potential that Nordic Mines can reach from a total mine life and production volume perspective which is much higher than the base case business scenario on 1200 kgs gold production. The attempt will be to similarly outsource the operative and capital cost components associated with sorting through a revised lease outsourcing/off-take agreement for the additional gold output.

The new operating model will enable Nordic Mines to have a much greater ability and agility to enhance the additional efficiency drivers - sorting being a very important lever among those. This approach enables the sorting business case to stand over the base case scenario in a capital efficient way, by using our deep access into the Indian gold market. Nordic Mines ends up reducing risk by using the approach of doing much more with much less.

- We have been fortunate that our gold is principally in quartz veins and quartz is easy to sort. Such is not the case with many mines. Sorting is indeed a potential game changer but we still have to develop a sorting algorithm and that would entail setting up a pilot plant. The algorithm will be the foundation of laying up the sorting business case over the base case. With our outsourcing approach, we will achieve this in a capital efficient way, comments Vinod Sethi.

- Our first step would be to build the base case to establish profitability and business viability without sorting and then make sorting stand over the base case. Sorting is the overflow to the base case illustrated above, concludes Pranay Panda.

Resolution on new issues of shares and proposal to amend the company's articles of association

The board of directors of Nordic Mines has decided to (i) issue up to 8,347,182 new common shares, corresponding to an increase in the company's share capital up to no more than SEK 3,684,403.54 and to (ii) issue up to 33,388,727 preferential shares, corresponding to an increase in the company's share capital up to no more than SEK 14,737,613.73. The board of directors' decisions are subject to approval by the extraordinary general meeting, and that the extraordinary general meeting resolves to amend the company's articles of associations in accordance with the board of directors' proposal.

Terms of the preferential shares

The preferential shares will entitle the holder to one-tenth (1/10) of a vote and have preferential rights over the common shares to an annual dividend of 0.044 SEK per preferential share. Further, the holders of preferential shares shall have the right to convert preferential shares to common shares.

Terms of the new issues of shares

The subscription price will be SEK 0.55 per common share and SEK 0.55 per preferential share. The board of directors of Nordic Mines deems the subscription prices per common share and preferential share to be equal to the market price, as it equals the last closing price of the Nordic Mines common share on 29th November 2016, being the last trading day prior to this announcement, and with consideration to the financial situation of the company.

The right to subscribe for the new common shares shall, with deviation from the shareholders' preferential rights, belong to Lau Su Holding AB. The right to subscribe for new preferential shares shall, with deviation from the shareholders' preferential rights, belong to Lau Su Holding AB and Lao Tzu Investments AB.

Lau Su Holding AB currently holds 27.22 percent of the total number of shares and votes in Nordic Mines and is the company's largest shareholder. Pranay Panda, board member of Nordic Mines, is also the chairman of Lau Su Holding AB. Lau Su Holding AB will be entitled to subscribe for up to 8,347,182 common shares and up to 29,215,136 preferential shares. Lau Su Holding AB shall pay SEK 4,590,950.10 for the 8,347,182 common shares through payment in cash. Lau Su Holding AB intends to pay SEK 9,181,900.20 for 16,694,364 of the preferential shares through payment in cash, and intends to pay SEK 6,886,425.15 for 12,520,773 preferential shares through a set-off of shareholder loans.

Lau Su Holding AB will, upon the completion of the new issues of common shares and preferential shares, hold shares corresponding to 28.62 percent of the total number of votes and 31.54 percent of the total share capital in Nordic Mines.

Vinod Sethi, the chairman of Nordic Mines, and Salim Govani, board member of Nordic Mines, are also board members of Lao Tzu Investments AB.  Kari Langenoja, board member of Nordic Mines, is the chairman of Lao Tzu Investments AB. Lao Tzu Investments AB will be entitled to subscribe for up to 4,173,591 preferential shares and intends to pay SEK 2,295,475.05 for the 4,173,591 preferential shares through a set-off of a shareholder loan.

Lao Tzu Investments AB currently does not hold any shares in Nordic Mines but will, upon completion of the new issue of preferential shares, hold preferential shares corresponding to 0.07 percent of the total number of votes and 0.7 percent of the total share capital in Nordic Mines.

After the completion of the new issues the total share capital will amount to SEK 268,129,155.13 and the total number of shares will amount to 607,458,665, of which 574,069,938 are common shares and 33,388,727 preferential shares.

The completion of the new issues will result in a dilution effect of approximately 2.02 percent in the number of votes and 6.87 percent in the total share capital, calculated on the total number of votes and total share capital upon completion of the new issues.

The new issue of common shares and the new issue of preferential shares are subject to approval by the extraordinary general meeting, and also that the extraordinary general meeting resolves to amend the company's articles of association in accordance with the board of directors' proposals. The extraordinary general meeting will be held at 10.00 CET on 9 January 2017 at Visma Services premises at Lindhagensgatan 94 in Stockholm. See separate press release on the notice to the extraordinary general meeting for further information.

For additional information, please contact: D. Saradhi Rajan, CEO: +44 207 993 5261 (switchboard) or Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of D. Saradhi Rajan, at 8.00 AM GMT, 30th November 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-11-30 NORDIC MINES AB (publ): Interim report third quarter 2016

Third quarter of 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million) as the Laiva Mine is on care and maintenance and not in production.
  • The Company reported an operating loss of SEK -3.1 million (SEK -12.6 million).
  • Loss after tax for the period amounted to SEK -2.9 million (SEK -15.6 million), corresponding to SEK -0.01 (SEK -0.29) per share.
  • Cash and cash equivalents were SEK 3.5 million (SEK 6.7 million, 30 June 2016) at the end of the period.
  • Equity was SEK 501.9 million (SEK 504.4 million, 30 June 2016) at the end of the period.
  • Nasdaq Stockholm imposed a fine of 7 times the annual listing fee (approximately SEK 1.5 million)
  • Secured shareholder loans of SEK 4.3 million to fund the running costs of the Company
  • Nasdaq Stockholm put the Company on observation status on the basis that the Company does not have adequate cash reserves for the next three months
  • Undertook a positive 70 ton optical ore sorting test at the Björkdal mine, Sweden

January - September 2016

  • Revenues were SEK 0.0 million (SEK 0.0 million) due to the production stop at the Laiva mine.
  • The Company reported an operating loss of SEK -24.9 million (SEK -67.3 million).
  • Loss after tax for the period amounted to SEK -24.7 million (SEK -76.1 million), corresponding to SEK -0.04 (SEK -1.41) per share.
  • Comprehensive income for the period was SEK -23.0 million (SEK -76.8 million).

Significant events after September 30, 2016

  • The Company secured a further SEK 2,3 million in shareholder loans
  • The Company made several changes to management in October to strengthen the team.
  • The Company secured USD 2.0 million in funding from Lau Su Holding AB in a combination of shareholder loan, new equity and preferential shares which will be subject to shareholder approval. It will also convert its existing shareholder loan of USD 0.25 million into preferential shares.  For more information please read the press release about financial remodelling, released 30th November 2016.
  • Lao Tzu Investments AB has agreed to convert its shareholder loan of USD 0.25 million into preferential shares on the same terms as Lau Su Holding AB, subject to shareholder approval.

For further information, please contact:
D. Saradhi Rajan,  +44 743 271 1564
info@nordicmines.se



NORDIC MINES AB (publ): Interim report third quarter 2016

2016-11-25 NORDIC MINES AB (publ): Release date of interim report third quarter 2016

Nordic mines will release the interim report for the third quarter financials on Wednesday, 30th November, 7 am GMT. The original date was set to 17th November and first postponed to 25th November. The new release day is due to finalisation of investment documentation regarding the company's funding plans.

For additional information, please contact: D. Saradhi Rajan, CEO: +44 207 993 5261 (switchboard) or Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 7 am GMT on 25 November 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-11-16 Nordic Mines AB: Release date of interim report third quarter 2016

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.

Nordic mines will release the interim report for the third quarter financials on Friday, 25th November, 8 am GMT. The original date was set to 17th November. The release is delayed due to finalisation of the company's fundraising plans.

For additional information, please contact
: D. Saradhi Rajan, CEO: +44 207 993 5261 (switchboard) or Rune Nordström, Head of Corporate Communications and Investor Relations: rune.nordstrom@nordicmines.com, +46 70 602 65 20

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 12 AM GMT on 16 November 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. For further information, see
www.nordicmines.com.



Press release (PDF)

2016-10-27 Management changes in Nordic Mines

PRESS RELEASE, 27 October 2016

Nordic Mines AB (publ) has appointed Ludmilla Lundberg as Senior Advisor, Compliance & Reporting. Ludmilla comes with 20 years of experience in compliance and reporting with positions as financial controller and chief economist in large listed companies, including Skanska, SEB, and ABB, as well as in Vattenfall.

Ludmilla was also the acting CFO of a listed mining company, Copperstone Resources AB.

Ludmilla's vast experience will greatly strengthen Nordic Mines. The company have recently appointed a new CFO and a new Head of Corporate Communications and Investor Relations.

With these new additions to the management, the board judges that Nordic Mines has been further strengthened. The potential now exists to implement Nordic Mines strategies for the future.

Eva Kaiser, previous Senior Advisor in the board, has resigned from her position in Nordic Mines.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 11:30 a.m. CEST on 27 October 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-10-25 Management changes in Nordic Mines

Nordic Mines AB (publ) is pleased to announce the appointment of Mr. Tony Butler as CFO, effective 25 October 2016. Tony joins Nordic Mines from Legacy Hill Resources where he is Head of Finance and thus responsible for all aspects of corporate finance, financial planning, systems and controls. Tony was previously a director at Cutfield Freeman & Co, where he spent 8 years and has worked as Vice Preseident at Metals & Mining at Nomura International. Tony has led transactions including public market M&A, debt and equity fundraising, as well as joint ventures such as project and offtake finance for mining companies, ranging from Rio Tinto and Anglo American to single asset juniors. Tony has worked with companies listed on the London, Australian and Toronto stock exchanges amongst others. Tony has degrees from Merton College, Oxford, Kings College, London and a Graduate Diploma in Law. 

Nordic Mines is also pleased to announce the appointment of Mr. Rune Nordström, as its Head of Corporate Communications and Investor Relations, effective 25 October 2016. Rune is an expert in corporate communications, public affairs & investor relations, with over 20 years of experience. He has previously worked with institutions such as AstraZeneca, SWECO Cres, Sector Alarm, the Government Offices of Sweden, Stockholm County Council and the City of Stockholm. Rune has a degree in business communications from IHM Business School, Stockholm, as well as a degree from Stockholm University.

With these appointments, the Board feels that the company now have strong financial and IR teams, focused on executing Nordic Mines' transformation strategy.

Nordic Mines' previous CFO Mr. Lars Vilhelmson and IR-consultant Mr. Joakim Kindahl have resigned from their positions in Nordic Mines.  

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

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

This information is Nordic Mines AB (publ) obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 noon CET on 25 October 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. For further information, see www.nordicmines.com.



Press release (PDF)

2016-10-19 Nordic Mines appoints Mr. Ola Wahlquist as Sr. Advisor

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, 19 October 2016

Nordic Mines is privileged to welcome Mr. Ola Wahlquist ex Audit Partner ,Year 2015, Ernst & Young as a Sr. Advisor.  Mr Wahlquist is a subject matter expert in Risk Management, Compliance and Audit related issues, having more than 30 years of experience through being associated with many large and mid sized public listed companies in the Nordic Markets some of them including mining related assets.

Mr. Wahlquist will also join board of Nordic Mines following the next shareholders meeting. His wealth of deep experience will help the company with all aspects of corporate governance and also be critical towards migrating Nordic Mines towards Gold Production.  

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 4:00 p.m. (CET) on October 19, 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



Press release (PDF)

2016-10-07 Nordic Mines updates on financial situation

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

2016-09-26 Nordic Mines: Encouraging early results from sorting test work

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, 26 September 2016

Nordic Mines ("The Company") is pleased to announce that it has successfully completed a 70-ton sorting test at the Björkdal mine, Sweden. The company was able to use the same sorting equipment and facilities that the Björkdal mine used in their 60,000-ton test on lower grade ore. During testing we confirmed that the laser sorting technique consistently detects Laiva's gold bearing quartzveins and is therefore the appropriate technology for sorting the Laiva gold ore. 

This 70-ton test allowed the company to run the sorting machine at full speed and together with the data from the tests completed previously, provide a similar level of feedback as from a much larger test. 

Upon visual inspection, the sorting tests have shown very encouraging results. Sorted waste contained only minor amounts of visible ore particles. The sorted ore product has been clearly upgraded with quartz material. Around 60-70% of the sorted sample has been rejected as waste.

The tests were designed to test all main ore bearing rock types of the Laiva deposit with gold contents of 0,6 g/t (low grade), 0,9 g/t (medium grade) and 1,2 g/t (high grade) and over a range of particle sizes. The sorting equipment consists of two opposing laser beam sets that scan each rock fragment fed through the system before it goes to the processing plant. The scattering of the beam on the surface of each rock is analysed and instantly sorted as ore or waste according to predefined thresholds of surface quartz levels detected.

Part of the continuous process is to optimise this so that waste material contains as little ore as possible. This will be confirmed via laboratory assays of the waste and ore piles. Management expects to have all sample assaying completed by November from which grade upgrades can be calculated. This information will be used in the creation of new bulk mining pit designs and together with an infill drilling program, will lead to a recalculation of mineable ore reserves.  

Andrew Malim, Head of Laiva Mine Development comments." This Björkdal program was the culmination of 2 years intensive study by the Laiva management team of ore sorting as a means of commercially upgrading lower grade ores, lowering cut off grades and mining costs. More importantly, it allows for a bulk mining approach which is the best fit model for the Laiva style of mineralisation and the existing AG plant.

Although magnetic and colour sorting systems have been widely used in other industries such as scrap steels and foodstuffs since the 1930's, optical sorting in mining (colour, laser, XRT and XRF) is now coming of age. Various versions are today used in over 50 mines worldwide and we predict will be in even more common usage in the near future. We confidently expect the assay results from the current test, due in November, to reflect results from our earlier tests where we saw a minimum 35% ore upgrade across the board.

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 3:30 p.m. (CET) on September 26, 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: Encouraging early results from sorting test work

2016-08-18 NORDIC MINES AB (publ) Interim report second quarter 2016

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.

Second quarter of 2016

  • Net sales were nil (SEK 0.0 million) during the second quarter of 2016, as the Laiva mine continued to operate on a care and maintenance basis only.
  • An operating loss of SEK -8.5 million (SEK -28.4 million) was reported for the period.
  • Result after tax for the period amounted to SEK -8.4 million (SEK -31.3 million), corresponding to SEK -0.01 (SEK -0.58) per share.
  • Cash and cash equivalents were SEK 6.7 million at the end of the period (SEK 14.8 million, 31 Marsh 2016).
  • Equity was SEK 504.4 million (SEK 512.0 million, 31 March 2016) at the end of the period.
  • Nordic Mines AB (publ) ("Nordic Mines" or the "Company") does not have sufficient funds to cover its needs for the month of September 2016. For further information, see Cash flow and financial position in this report.
  • On May 17, 2016, the Company reported an updated Mineral Resource Estimate for the Laiva gold project ("Laiva", the "Laiva project" or the "Project") based upon a new laser sorting process.
  • On May 25, 2016, the Company reported a new Scoping Level Preliminary Economic Assessment for Laiva (the "Assessment").
  • On May 31, 2016, the Company reported Changes in ownership within Nordic Mines' majority owner Lau Su Holding AB ("Lau Su").

January - June 2016

  • Net income was SEK 0.0 million (SEK 0.0 million) due to the production stop at the Laiva mine.
  • The Company recorded an operating loss of SEK -21.8 million (SEK -54.7 million).
  • Profit/loss after tax for the period amounted to SEK -21.9 million (SEK -60.5 million), corresponding to SEK -0.04 (SEK -1.12) per share.
  • Comprehensive income for the period amounted to SEK -20.4 million (SEK -63.0 million), corresponding to SEK -0.04 (SEK -1.17) per share.

Significant events after period end

  • On July 14, 2016, the company announced that they have contracted Lars Vilhelmson as new CFO and Joakim Kindahl as IR-consultant.
  • On July 28, 2016 the Nasdaq Stockholm's Disciplinary Committee imposes a fine of 7 times the annual listing fee (approximately SEK 1.4 million) on Nordic Mines. The decision is partly based upon the Swedish Securities Council previous appraisal that the approach by which Lau Su Holding AB was allowed to subscribe for new shares in the Company's Rights Issue 2015 was not in accordance with good practice on the stock market.
  • On August 4, 2016, Nasdaq Stockholm decided, after dialogue with the Company, to temporarily give the Nordic Mines share observation status due to liquidity was not sufficient for the next three months.
  • On August 18, 2016, Nordic Mines announced that they have received the first drip feed by way of a shareholder loan of USD 500 000 to finance the Company's operating need for the next month. For further information, see Cash flow and financial position in this report.

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 08.00 a.m. (CET) on August 18, 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 AB (publ) Interim report second quarter 2016

2016-08-18 Nordic Mines AB: Short term financing

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, 18 August 2016

Short term financing

Nordic Mines ("The Company") has now received a shareholder loan of USD 500 000. In addition, we are negotiating additional funding of USD 1 000 000. This will allow us to finalize testing and in parallel working towards securing larger financing during the fall which will allow the company to complete all necessary work before taking the decision to re-start the Laiva mine.

Initiation of large scale ore sorting test

The company has as part of a review of bulk mining technologies carried out a series of tests based on ore-sorting, which have given very encouraging results. The Company has a slot time during September for initiating a large scale test of around 1 200 tons to verify the earlier results. The test is expected to take around 6-8 weeks. The sorting tests is based on optical technology and is used in several mines worldwide and initial tests indicate reduced operating cost, lower cut-off grade and thus increased gold production by implementing this at the Laiva mine.

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 07.55 a.m. (CET) on August 18, 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



Press release (PDF)

2016-08-04 Nordic Mines share being put on observation status

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 4 August 2016

Nasdaq Stockholm has, after dialogue with Nordic Mines AB (publ) ("Nordic Mines" or the "Company") decided to temporarily give Nordic Mines' share observation status due to the liquidity is not sufficient for the next three months

However, the company has agreed on the terms of financing of USD 500 000 and finalizing terms for a further USD 1000 000 to be drawn down when necessary.

CEO Saradhi Rajan comments: "We feel confident that with the support from our existing large shareholders that we will finalize the short term financing soon. In parallel we are working towards securing the larger financing during the fall which will place the company on a stable long term financial footing"

For further information, please contact:

D. Saradhi Rajan, CEO Nordic Mines: +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 04.30 p.m. (CET) on August 4, 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



Press release (PDF)

2016-07-28 The Disciplinary Committee of Nasdaq imposes a fine on Nordic Mines

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, 28 July 2016

The Disciplinary Committee of Nasdaq Stockholm (the "Disciplinary Committee") imposes a fine of seven times the annual listing fee [approx. MSEK 1,5] on Nordic Mines AB (publ) ("Nordic Mines" or the "Company"). The decision made by the Disciplinary Committee is partly based upon the Swedish Securities Council previous appraisal that the approach by which Lao Su Holding AB was allowed to subscribe for new shares in the Company's Rights Issue 2015 was not in accordance with good practice on the stock market.

At the time of the rights issue the Company was in an extremely distressed financial situation and could not see that any alternative options were available. As is further set forth in the Company's previous statement to the Securities Council, it is the view of the Company that there was a high probability that the Finnish composition plan would have defaulted should the Company have failed to complete the Rights Issue, which in turn could have led to a new reorganisation, bankruptcy or other liquidation of the Company.

During 2016 the company has strengthened its organisation and a new management team is in place from beginning of the year together with a new board.

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564

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

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 04.00 p.m. (CET) on July 28, 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.se.



Press Release (PDF)

2016-07-14 Nordic Mines hires Lars Vilhelmson as CFO-consultant and Joakim Kindahl as IR-consultant

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, 14 July 2016

Nordic Mines hires Lars Vilhelmson as CFO-consultant. Lars is born 1957 and comes most recently from Petrogrand where he worked as CFO. Before that he worked at the shipping group Coolcarriers for 25 years. Lars has a bachelor degree in economics from the University of Stockholm. In addition, Nordic Mines has also hired Joakim Kindahl as IR-consultant. Joakim is born 1977 and has worked several years as an equity analyst at Öhman Fondkommission and Carnegie as well as investor relations / business development at Petrogrand. He holds a MSc in Economics and Business Administration from Stockholm School of Economics.  Both will take up their roles as per August 1st.

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Lars Vilhelmson, CFO: +46 70 544 92 07
Joakim Kindahl, IR: +46 70 517 54 52

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

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 08.00 a.m. (CET) on July 14, 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.se.



Press Release (PDF)

2016-06-30 Bulletin from Nordic Mines' Annual General Meeting 2016

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 prevail. This is not a legal document.

PRESS RELEASE 30 JUNE 2016

The Annual General Meeting (the "AGM") in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") held today 30 June 2016, at Westmanska palatset, Holländargatan 17, in Stockholm, Sweden resolved in accordance with the Board of Directors' and Nomination Committee's proposed resolutions in the notice to attend the AGM and the majority shareholder Lau Su Holding AB's proposed resolutions announced in a press release as of 27 June 2016.

Resolution on adoption of the income statement and balance sheet, disposal of the Company's result and discharge from liability

The AGM resolved to adopt the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for the financial year 2015.

The AGM resolved that no dividend will be paid for the financial year 2015 and that the accumulated result of SEK 85,072 thousand is carried forward.

The AGM granted each of the members of the Board of Directors, and the two managing directors that were active during the financial year 2015, discharge from liability for the financial year 2015.

Resolution on the number of Board members and auditors

The AGM resolved that the number of Board members shall be eight with no deputy directors and that the Company shall have one auditor without deputy auditor.

Resolution on remuneration to the Board of Directors and the auditor

The AGM resolved that remuneration, for the period until the end of the next Annual General Meeting, shall be paid with SEK 200,000 to each of the Board members independent of any major shareholders (i.e. Mr. Torsten Börjemalm and Mr. Krister Söderholm), indicating a total amount of SEK 400,000.

Further, the AGM resolved that fees to the auditor shall be paid according to approved invoice.

Resolution of Board members, chairman of the Board of Directors and auditor

The AGM resolved to, for the period up until the end of the next Annual General Meeting, re-elect Mr. Vinod Sethi, Mr. Hans Andreasson, Mr. Torsten Börjemalm, Mr. Salim Govani, Mr. Kari Langenoja, Mr. Pranay Panda, Mr. D. Saradhi Rajan and Mr. Krister Söderholm. Mr. Vinod Sethi was re-elected as the Chairman of the Board of Directors. The AGM further resolved to, for the period up until the end of the next Annual General Meeting, re-elect Öhrlings PricewaterhouseCoopers AB as auditor of the Company.

Resolution on appointment of a Nomination Committee

The AGM resolved to appoint a Nomination Committee ahead of the Annual General Meeting 2017 in accordance with the proposal set forth in the notice to attend the AGM.

Resolution on principles for remuneration to senior management

The AGM resolved to adopt principles for remuneration to the managing director and other senior executives of the Company in accordance with the proposal set forth in the notice to attend the AGM.

Resolution on authorisation for the Board of Directors to resolve on new issues

The AGM resolved to, in accordance with the proposal set forth in the notice to attend the AGM, authorize the Board of Directors to - at one or several occasions and for the time period until the next Annual General Meeting - increase the Company's share capital by new share issues and to issue warrants and convertible bonds, to the extent that it corresponds to a dilution of not more than 15 percent of the number of shares outstanding at the time of the Annual General Meeting, after full exercise of this authorisation.

For further information, please contact:

D. Saradhi Rajan, CEO Nordic Mines: +44 743 271 1564

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 30 June 2016 at 02.30 p.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Press release (PDF)

2016-06-27 Proposal for Board of Directors in Nordic Mines

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 prevail. This is not a legal document.

The current Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is proposed for re-election on the Annual General Meeting June 30, 2016 (the "AGM").

Nordic Mines' majority owner Lau Su Holding AB ("Lau Su" or the "Majority Owner") has to the Board of Directors of Nordic Mines (the "Board") announced their proposal for a Board to be elected at the AGM. The proposal is a Board of eight Directors and re-election of the entire current Board comprising of Mr. Vinod Sethi (Chairman), Mr. Hans Andreasson, Mr. Torsten Börjemalm, Mr. Salim Govani, Mr. Kari Langenoja, Mr. Pranay Panda, Mr. D. Saradhi Rajan and Mr. Krister Söderholm.

In the opinion of the Majority Owner, Mr. Börjemalm and Mr. Söderholm are both independent of any major shareholders in the Company whilst Mr Sethi, Mr. Andreasson, Mr. Govani, Mr. Langenoja, Mr. Panda and Mr. Rajan are dependent of the Majority Owner. Further, in the opinion of the Majority Owner, all proposed Directors are independent of the Company and its executive management except for Mr. Rajan that is the CEO of the Company. The Majority Owner further proposes unchanged remuneration for the Board amounting to SEK 200.000 for independent directors per person and year. Dependent directors don't receive any remuneration.

As previously announced (press release May 31, 2016), the Board has further been informed that the Company's Majority Owner is currently in the process of splitting up parts of it's shareholding in Nordic Mines amongst the Majority Owner's original investors (the "Investors"), following an initial lock-up period of six months amongst the Investors. The proposal announced by Lau Su is done so in mutual understanding with the Investors.

The Company's Nomination Committee will not announce any further proposal in addition to the proposal presented by the Majority Owner.

For further information, please contact:
D. Saradhi Rajan, CEO Nordic Mines: +44 743 271 1564

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 27 June 2016 at 02:30 p.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.com



Press release (PDF)

2016-05-31 Notice of the Annual General Meeting of Nordic Mines AB (publ)

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.

Shareholders of Nordic Mines AB (publ), 556679-1215 (the "Company"), are hereby convened to the Annual General Meeting on Thursday 30 June 2016 at 10.00 a.m. (CEST) at Westmanska palatset, Holländargatan 17, Stockholm, Sweden.

A. Notification of participation

In order to be entitled to participate at the General Meeting, shareholders must:

  1. be included in the printout of the share register kept by Euroclear Sweden AB no later than on Thursday 23 June 2016; and
  2. no later than on Thursday 23 June 2016, preferably before 3.00 p.m. (CEST), have notified the Company by mail to: Nordic Mines AB (publ), Mäster Samuelsgatan 60, 8 tr., SE-111 21 Stockholm, Sweden, by phone: +46 (0)8-505 165 00, or by e-mail: info@nordicmines.com.

The notification shall include full name, personal identification number or company registration number, shareholding, address, daytime phone number and, where applicable, details of a deputy, representative and/or number of assistants (maximum two). Where applicable, a power of attorney, certificate of registration and other authorising documents are to be enclosed with the notification.

For further information, please contact:
D.Saradhi Rajan, CEO, +44 743 271 1564
d.saradhi.rajan@nordicmines.com

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 31 May 2016 at 08:45 a.m.

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



Press release (PDF)

2016-05-31 Changes in ownership within Nordic Mines' majority owner Lau Su Holding AB

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.

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has been informed that the Company's majority owner Lau Su Holding AB (the "Majority owner") is about to split up parts of it's shareholding in Nordic Mines amongst the Majority owner's original investors (the "Investors"), following an initial lock-up period of six months amongst the Investors.

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564

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

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 08.30 a.m. (CET) on May 31, 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.se.



Press release (PDF)

2016-05-25 Nordic Mines AB: New Scoping Level Preliminary Economic Assessment for the Laiva project after updating of the Mineral Resource Estimate

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.

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a new Scoping Level Preliminary Economic Assessment for the Laiva Project ("Laiva" or the "Project") (the "Assessment") following the publication of a new Mineral Resource Estimate on May 17, 2016. The reported Assessment is compliant with the current standard of the Fennoscandian Review Board.

Base Case

  • Project Net Present Value ("NPV") of EUR 77 million[1]
  • Total gold production of 529 thousand tr.oz over 7 year Life-of-Mine ("LoM")
  • Expected total operating cash costs of USD 890 (EUR 787) per tr.oz, indicating that Laiva is capable of being restarted and operated on a long term basis at a broad range of commodity prices

The Assessment relies upon the updated JORC Code 2012 compliant Mineral Resource Estimate as of May 2016 (press release May 17, 2016) and quantifies the revised operating costs for the Laiva project. The Assessment and the updated Mineral Resource Estimate are both based upon the new sorting strategy developed by the Company's management during the last few months.

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Peter Kuiper, Head of Development, +46 70 567 6444

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 03.30 p.m. (CET) on May 25, 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


[1] Assuming a long-term gold price of USD 1,250 (EUR 1,105) per tr.oz and a Discount Rate of 6%.



Press release (PDF)

2016-05-17 Nordic Mines informs

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, 17 May 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") reported in a separate press release, as of today, an updated Mineral Resource for the Laiva project based on the new sorting strategy developed by the management of the Company in order to prepare for a restart of the Laiva operations. The Company's intention in the near future is further, as reported on May 12, 2016 in Nordic Mines' interim report for the first quarter 2016, to seek additional funding in order to finance Nordic Mines during the planning and preparation phase of the restart process as well as finding a funding solution to implement the total strategy necessary to restart the Laiva operations.

In order to achieve a certain degree of flexibility in the funding process Nordic Mines has decided to postpone the Company's Annual General meeting (the "AGM"). The AGM will be held in Stockholm on June 30, 2016. Previous announced date was June 16, 2016

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564

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

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 08.15 a.m. (CET) on May 17, 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.se.



Press release (PDF)

2016-05-17 Nordic Mines reports an updated Mineral Resource based on a sorting process

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, 17 May 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is reporting an updated Mineral Resource Estimate for the Laiva mine as of May 16, 2016.

The updated Mineral Resource Estimate is based upon recent ore sorting tests of a small tonnage throughput from the Laiva deposit. The JORC Code 2012 compliant Mineral Resource update is further based upon the Company's January 1, 2015 Mineral Reserve and Mineral Resource report using the January 1, 2015 pit shell data and mining cut off grades as benchmarks but reporting from updated pit shells based on updated costs and technical data as a result of the ore sorting scenario test work results.

Using a USD 1,400 gold price (previous USD 1,510) and a cut off grade at 0.3 g/t (previous 0.6 g/t), a reduction of 0.3 g/t due to the sorting, the Measured and Indicated Mineral Resource is 24,320,000 tons (1.13 g/t), containing gold of 885,000 tr.oz. In addition, the Inferred Mineral Resource is 4,370,000 tons (1.64 g/t), containing 231,000 tr.oz. This is a 13% increase in contained gold (measured/indicated) compared to the previous resource statement. Using the same gold price as in the previous model the increase in contained gold would be around 25%.

Stockholm, 17 May 2016
Nordic Mines AB (publ)

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Peter Kuiper, Head of Development, +46 70 567 6444

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 08.00 a.m. (CET) on May 17, 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



Press release (PDF)

2016-05-12 Nordic Mines publishes its 2015 Annual Report

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, 12 May 2016

The 2015 Annual Report for Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is now available at the Swedish company's website, www.nordicmines.com. The Annual Report is only available in Swedish.

The Company's Auditor recommends that the meeting of shareholders adopt the income statement and balance sheet for the parent company and the group in accordance with the Annual Report and in addition discharge the members of the Board of Directors and the Managing Director from liability for the financial year. The Auditor also reports emphasis of matter in regards to the Company's liquidity risk as well as the going concern principle.

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564

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

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 08.15 a.m. (CET) on May 12, 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.se.



Nordic Mines Annual Report 2015 (Swedish)

2016-05-12 NORDIC MINES AB (publ) Interim report first quarter 2016

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.  

First quarter of 2016

  • Net sales were nil (SEK 0.0 million) during the first quarter of 2016, as the Laiva mine continued to operate on a care and maintenance basis only.
  • The Company reported an operating loss of SEK -13.3 million (SEK -26.3 million).
  • Result after tax for the period amounted to SEK -13.4 million (SEK -29.2 million), corresponding to SEK -0.06 (SEK -0.54) per share.
  • Cash and cash equivalents were SEK 14.8 million at the end of the period (SEK 32.6 million, 31 December 2015).
  • Equity was SEK 512.0 million (SEK 524.9 million, 31 December 2015) at the end of the period.
  • The Company currently does not have sufficient funds to cover its needs for the next six months starting from the date of this report and will need to raise additional funding to provide sufficient headroom to meet the operating costs for the next six months and put the Laiva mine back into production.
  • On January 5, 2016, the Company's new Majority Owner presented a proposal for a new Board of Directors ("Board") for Nordic Mines AB (publ) ("Nordic Mines" or the "Company"), which was duly elected at an Extraordinary General Meeting held on January 7, 2016.
  • On January 13, 2016, the Swedish Securities Council issued a statement in regards to Nordic Mines. See Statement by the Swedish Securities Council with respect to Nordic Mines.
  • On February 3, 2016, the Company announced a new management team. Mr. D. Saradhi Rajan was appointed CEO of the Company. Mr. Nigel Pickett and Mr. Andrew Malim became members of the Company's management team, while Mrs. Eva Kaijser and Mr. Jonatan Forsberg left their respective positions.

For further information, please contact:

D. Saradhi Rajan,  +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 08.00 a.m. (CET) on 12 May 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 AB (publ) Interim report first quarter 2016

2016-02-25 NORDIC MINES AB (publ) Year-end report 2015

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.   

Fourth quarter of 2015

  • Revenues were SEK 0.0 million (SEK 0.0 million) due to the production stop at the Laiva mine.
  • The Company reported an operating profit of SEK 80.3 million (SEK -38.7), mainly as a result of gains from the bank debt write-down.
  • Profit after tax for the period amounted to SEK 76.1 million (SEK -45.6 million), corresponding to SEK 0.36 (SEK -0.86) per share.
  • Cash and cash equivalents were SEK 32.6 million (SEK 21.1 million, 30 September 2015) at the end of the period. Thus, the Company currently does not have sufficient funds to cover its needs for the next twelve months starting from the date of this report.
  • Equity was SEK 524.9 million (SEK 390.0 million, 30 September 2015) at the end of the period.
  • On October 16, 2015, Nordic Mines ("Nordic Mines" or the "Company" and together with its subsidiaries the "Group") announces the Board of Director's of Nordic Mines (the "Board") resolution on final terms for the rights issue with preferential rights for the Company's existing shareholders (the "Righs Issue").
  • On October 21, 2015, Nordic Mines holds an Extraordinary General Meeting (the "October EGM"), to approve the resolution by the Board on the forthcoming Rights Issue. On the same day Nordic Mines also announces a Company update in conjunction with the CEO's presentation on the October EGM where Mrs. Eva Kaijser elaborates on the Company's activities and strategies going forward.
  • On October 23, 2015, Nordic Mines' publish a prospectus for the Rights Issue including new financial information on the Company.
  • On November 9, 2015, Nordic Mines announces that the Company has agreed on a final agreement with the Company's lenders under which Nordic Mines will acquire all of the lenders' claims on Group companies in accordance with the existing project financing agreements. The same day a supplementary prospectus relating to the Rights Issue is published due to the agreement.
  • On November 13, 2015, Nordic Mines announces the outcome of the Rights Issue where subscription applications corresponding to approximately SEK 80 million were submitted and subsequently resulting in Nordic Mines receiving a new majority owner in Lau Su Holding AB ("Lau Su" or the "Majority Owner").
  • On November 16, 2015, Nordic Mines' publish a supplementary prospectus relating to the Rights Issue. The supplementary prospectus was prepared by reason that the Company through the outcome of the Rights Issue would receive a majority owner in Lau Su and in addition by reason of the commitment compensation of shares granted to the Lau Su in relation to the completion of the Rights Issue.
  • On November 18, 2015, Nordic Mines' share receives observation status in anticipation of payments from the Rights Issue.
  • On December 1, 2015, Nordic Mines announces that payments amounting to approximately SEK 80 million have been made in Nordic Mines' Rights Issue whereupon the Board has declared the conditions for the rights issue fulfilled.
  • On December 14, 2015, the observation status for Nordic Mines' share is removed.
  • On December 14, 2015, Nordic Mines announces that the Company has completed the repurchase of outstanding bank debt in accordance with previous agreement with the Company's lenders.
  • On December 14, 2015, Nordic Mines calls for an Extraordinary General Meeting to be held on January 7(the "January EGM"), 2016 with the purpose of electing a new Board reflecting the new ownership structure of the Company.

Full year 2015

  • Revenues were SEK 0.0 million (SEK 62.9 million) due to the production stop at the Laiva mine.
  • The Company recorded an operating result of SEK 13.0 million, mainly due to the gains associated to the Bank Debt repurchase (SEK 305.2 million, mainly due to composition gain).
  • Profit after tax for the period amounted to SEK 0.0 million (SEK 125.8 million), corresponding to SEK 0.00 (SEK 6.62) per share.

Significant events after December 31, 2015

  • On January 5, 2016, the Company's new Majority Owner presents a proposal for a new Board.
  • On January 7, 2016, Nordic Mines holds the January EGM, where a new Board for the Company is elected.
  • On January 13, the Swedish Securities Council issues a statement in regards to Nordic Mines. See Statement by the Swedish Securities Council with respect to Nordic Mines.
  • On February 3, 2016, Nordic Mines announces changes in the Company's Management. Mr. D. Saradhi Rajan is appointed CEO of the Company. In addition, Mr. Nigel Pickett and Mr. Andrew Malim become members of the Nordic Mines' Management. It is further announced that the current CEO Mrs. Eva Kaijser and the Company's CFO Mr. Jonatan Forsberg both has chosen to leave their respective positions in Nordic Mines at latest by the end of February 2016.
  • On February 19, 2016, Nordic Mines announces the composition of the Nomination Committee for the Annual General Meeting 2016.

For further information, please contact:

D. Saradhi Rajan,  +44 743 271 1564
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)761 051 310

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 08.00 a.m. (CET) on 25 February 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 AB (publ) Year-end report 2015

2016-02-19 Nomination Committee of Nordic Mines


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.


PRESS RELEASE 19 February 2016

The Annual General Meeting 2015 (the "AGM 2015") of Nordic Mines AB (publ) ("Nordic Mines") has resolved to establish a Nomination Committee for the Annual General Meeting 2016. The Nomination Committee comprises of Mr. Fredrik Zettergren, Mr. Torbjörn Bygden, Mrs. Eva Kaijser and Mr. Manfred Lindvall. Mr. Zettergren and Mr. Bygden representes Lau Su Holding AB. Mrs. Kaijser represents Property Dynamics AB and will serve on the Committee from the time she leaves the position as CEO of the Company, at latest by the end of February, 2016. Mr. Lindvall represents the minor shareholders of Nordic Mines. The composition of the Committee is based upon the ownership structure of the Company as of the end of the fourth quarter 2015 (as stipulated by the AGM 2015).
Fredrik Zettergren has been elected to Chairman of the Nomination Committee.

For further information, please contact:
Eva Kaijser, CEO, +46 (0)70 932 09 01

Jonatan Forsberg, CFO, +46 (0)76-105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 19 February 2016 at 03:30 p.m.


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.se.



Press release (PDF)

2016-02-03 Changes in Nordic Mines' Management

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 3 February 2016

Nordic Mines AB (publ) ("Nordic Mines" or the Company) appoints Mr. D. Saradhi Rajan as new CEO of the Company. Mr. Rajan will be supported by a management team consisting of Mr. Nigel Pickett (Head, Strategy & Business Development), Mr. Andrew Malim (Head, Laiva Mine Development), Mr. Peter Finnäs (General Manager, Laiva) and Mr. Peter Kuiper (Development Manager, Laiva).

New members of the management team
Mr. Rajan has led the acquisition, profitable rehabilitation and growth of mining assets around the world. Over the last 10 years he has built successful mining operations with a focus on creating low cost high efficiency operations, which are profitable across the commodity price cycle. 

Mr. Malim was an award winning founding member of the James Capel mining team and founder of the Lion Mining Group ("Lion Mining"). Over a 23 year period, the Lion team developed and successfully exited several significant gold projects in western Canada, the US, and copper in Mexico and Africa. Mr. Malim specialises in mining and geologic structural analysis.     

Mr. Pickett is a mechanical and production engineering specialist. He has worked on several technical and business performance improvement projects including the redevelopment of process plants.

Mr. Finnäs and Mr. Kuiper will continue to be an integral part of the management team.

Strategy going forward
The Company will now focus on: initiating an exit from the composition plan, planning and preparing for the Laiva mine to operate as a globally competitive operation and reiterate investors confidence in Nordic Mines as an investment case.

Recent work supports the strategy to couple Laiva's promising geology with careful grade focussed mining, intelligent use of processing technology and an intense focus on cost metrics in order to reduce cash costs to globally competitive levels and targeting volumes allowing the mill to operate at full capacity.  The aim is further to create a business operation, which is profitable across the commodity price cycle.

The Majority owner Lau Su Holding AB has announced to the Board of Directors that they are strongly committed to fulfil the new management's funding needs for the Company.

Given the Company's focus on operational costs and efficiencies, the intent is to move the management closer to the Laiva mine site. This will help in orchestrating the core management's focus on developing the property in close coordination with the operational team on-site.

Outgoing management
The current CEO of Nordic Mines Mrs. Eva Kaijser and the Company's CFO Mr. Jonatan Forsberg has chosen to leave their respective positions in Nordic Mines at latest by the end of February 2016. They will thereafter continue as senior advisors for the Company.

Mrs. Eva Kaijser was appointed CEO of Nordic Mines in May 2015. During her time as CEO Mrs. Kaijser has managed Nordic Mines through a complex refinancing process where the Company now has regained full control over previously pledged asset thus enabling the new management off Nordic Mines to develop the Company and the Laiva project to its full potential.

Mr. Jonatan Forsberg was appointed CFO of Nordic Mines in March 2014. During his time as CFO the Nordic Mines Group has completed a financial reconstruction through two complex transaction processes in 2014 and 2015. In total, gross financial debt of more than half a billion Swedish kronor has been removed from the Company's balance sheet and 250 million Swedish kronor have been raised as equity capital to strengthen the balance sheet further.

Stockholm, 3 February 2016
Nordic Mines AB (publ)

For further information, please contact:
D. Saradhi Rajan, +44 743 271 1564
Eva Kaijser, CEO, +46 70 932 09 01
Jonatan Forsberg, CFO, +46 76 105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 3 February 2016 at 08:00 a.m.

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.se.



Press release (PDF)

2016-01-13 The Swedish Securities Council issues a statement with respect to Nordic Mines

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 13 January 2016

The Swedish Securities Council has attended to a petition from Nasdaq Stockholm AB regarding the new issue of shares with preferential right for existing shareholders in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") which was completed during the fourth quarter 2015 (the "Rights Issue"). The Swedish Securities Council makes the appraisal that the approach by which Lao Su Holding AB was allowed to subscribe for new shares in the Rights Issue was not in accordance with good practice on the stock market.

The Company regrets that the Securities Council has reached the conclusion set forth in the Council's statement, especially given that the Company, in consideration of the extremely distressed financial situation that the Company found itself in at the time of the Rights Issue, could not see that any alternative options were available to the Company. As is further set forth in the Company's statement to the Securities Council, it is the view of the Company that there was a high probability that the Finnish composition plan would have defaulted should the Company have failed to complete the Rights Issue, which in turn could have lead to a new reorganisation, bankruptcy or other liquidation of the Company.

For further information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 13 January 2016 at 10:30 a.m.

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.se.



Press release (PDF)

2016-01-07 Statement from Nordic Mines' Extra General Meeting

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, JANUARY 7, 2016

Nordic Mines AB (publ) (the "Company" or "Nordic Mines") held an Extraordinary General Meeting earlier today in Stockholm, Sweden.

The Extra General Meeting resolved:

  • that the Board shall consist of eight ordinary members without any deputy members;
  • to elect Mr. Hans Andreasson, Mr. Torsten Börjemalm, Mr. Salim Govani, Mr. Kari Langenoja, Mr. Pranay Panda, Mr. D. Saradhi Rajan, Mr. Vinod Sethi and Mr. Krister Söderholm (re-election) as Board members for the period until the end of the next Annual General Meeting;
  • to elect Mr. Vinod Sethi as Chairman of the Board, and
  • that a fee totaling SEK 600,000 per year shall be paid to the Board, to be distributed with SEK 200,000 to each of the Board members independent of any major shareholders (i.e., Mr. Torsten Börjemalm, Mr. Kari Langenoja and Mr. Krister Söderholm).

For additional information, please refer to the Company's press release as of January 5, 2016.

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901

Jonatan Forsberg, CFO, +46 (0)761 051 310

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

The above information may be information that Nordic Mines is required to make 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 January 7, 2016.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.



Press release (PDF)

2016-01-05 Proposal for a new Board of Directors in Nordic Mines

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 prevail. This is not a legal document.

PRESS RELEASE 5 January 2016

Nordic Mines AB's (publ) ("Nordic Mines" or the "Company") new majority owner Lau Su Holding AB ("Lau Su" or the "Majority Owner") has to the current Board of Directors of Nordic Mines announced their proposal for a new Board of Directors of the Company. The proposal is a Board of eight Directors comprising of Mr. Vinod Sethi (Chairman), Mr. Hans Andreasson, Mr. Torsten Börjemalm, Mr. Salim Govani, Mr. Kari Langenoja, Mr. Pranay Panda, Mr. D. Saradhi Rajan and Mr. Krister Söderholm.

Background
With the conclusion of Nordic Mines rights issue for existing shareholders (the "Rights Issue") Nordic Mines gained a majority owner - Lau Su, which now owns 61.5 per cent of the shares in the Company. Lau Su is controlled by a number of investors with a background within mining, finance and investments. On the request from the Main Owner the Board of Directors of Nordic Mines has called for an Extra General Meeting (the "EGM") on January 7, 2016 to among other things elect a new Board of Directors. The Majority Owner has now to the current Board of Directors of Nordic Mines announced their proposal for a new Board of Directors of the Company.

The Proposal
The Majority Owner proposes re-election of Mr. Krister Söderholm (Finnish resident) and new election of Mr. Vinod Sethi (Indian resident), Mr. Hans Andreasson (Swedish resident), Mr. Torsten Börjemalm (Swedish resident), Mr. Salim Govani (Indian resident), Mr. Kari Langenoja (Swedish resident), Mr. Pranay Panda (Swedish resident) and Mr. D. Saradhi Rajan (UK resident).

Mr. Vinod Sethi is proposed for election as Chairman of the Board.

In the opinion of the Majority Owner, Mr. Torsten Börjemalm, Mr. Kari Langenoja and Mr. Krister Söderholm are independent of any major shareholders in the Company whilst Mr Vinod Sethi, Mr. Hans Andreasson, Mr. Salim Govani, Mr. Pranay Panda and Mr. D. Saradhi Rajan are dependent of the Majority Owner. Further, in the opinion of the Majority Owner, all proposed Directors are independent of the Company and its executive management.

The Majority Owner further proposes that the remuneration for independent Directors should remain at 200 000 sek per annum but that no remuneration should be paid to Directors that are dependent of any major shareholders in the Company.

The proposed members of the Board have a long-standing background in the mining industry as well as considerable experience in business and finance in general. The Majority Owner believes that the proposed Board has the diversity and breadth in terms of its members' varying expertise, experience and background that are appropriate to the Company's activities and stage of development. It is the Majority Owners aim that the reconstituted Board of Directors will provide strategic direction and provide an overview of the roadmap ahead for the development of Nordic Mines. Key strategic and management decisions will be announced subsequently.

Information on proposed Directors

Mr. Vinod Sethi (Chairman)
Mr. Sethi is a former Managing Director of Morgan Stanley Asset Management Inc. and pioneered international investing in India. His expertise is within investments.

Mr. Hans Andreasson (Director)
Mr. Andreasson is a Senior Partner of the Swedish law firm Mannheimer Swartling Advokatbyrå AB.

Mr. Torsten Börjemalm (Director)
Mr. Börjemalm is a senior veteran of the Swedish Mining Industry with rich contributions to among other mining projects the Björkdal Gold Mine and to Lappland Goldminers as its Chairman.

Mr. Salim Govani (Director)
Mr. Govani is an Indian based investment professional with extensive experience of investing within a diverse range of industries.

Mr. Kari Langenoja (Director)
Mr. Langenoja is a financial and accountant consultant with extensive experience from several companies in different industries.

Mr. Pranay Panda (Director)
Mr. Panda is the Chairman of Lau Su and has an extensive record within investments in several industries.

Mr. D. Saradhi Rajan (Director)
Mr. Rajan is a former Senior Vice President of Vedanta Resources plc. and the founder of Legacy Hill Resources Ltd.  He has led the acquisition, profitable rehabilitation and growth of natural resource assets across the world.

Mr. Krister Söderholm (Director)
Mr. Söderholm has served at the Board of Directors in Nordic Mines several times, most recently as a Director since 2013. He has also held the position as Managing Director for the Laiva project. Mr. Söderholm has furthermore held the position as Chief Inspector of Mines in Finland and also held management and board positions in several mining companies in Sweden and in Finland.

For further information, please contact:
Pranay Panda, Chairman, Lau Su Holding, +46 (0)70-552 60 78
Eva Kaijser, CEO, Nordic Mines, +46 (0)70-932 09 01

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 5 January 2016 at 12:00 a.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Press release (PDF)

2015-12-30 Publication of changes in the total number of shares and votes in Nordic Mines

PRESS RELEASE DECEMBER 30, 2015

The total number of shares and votes in Nordic Mines AB (publ) as per December 30, 2015, amounts to 565,722,756.

The increase in the total number of shares and votes during December 2015 is a result of the rights issue for existing shareholders that was completed and registered with the Swedish Companies Registration Office in December 2015.

For additional information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published at 8:00 a.m on December 30, 2015.



Press release (PDF)

2015-12-14 Nordic Mines' observation status on Nasdaq now removed

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, 14 December 2015

Nasdaq Stockholm AB ("Nasdaq Stockholm") has decided that the observation status for the shares in Nordic Mines AB (pub) ("Nordic Mines" or the "Company") (NOMI, ISIN code SE0007491105, order book ID 57018) shall be removed with effect as of today, December 14, 2015. 

On November 18, 2015 Nasdaq Stockholm decided to temporarily give Nordic Mines' share observation status in anticipation of payments for the rights issue for existing shareholders (the "Rights Issue"). The Company has subsequently received the proceeds from the Rights Issue and the Rights Issue has been registered with the Swedish Company's Registration Office.

Stockholm, 14 December 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 01.30 p.m. (CET) on 14 December 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.



Press release (PDF)

2015-12-14 Nordic Mines calls for an Extra General Meeting to elect a new Board of Directors

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 14 DECEMBER 2015

With the conclusion of Nordic Mines AB's (publ) ("Nordic Mines" or "the Company") rights issue for existing shareholders Nordic Mines has gained a new main owner - Lau Su Holding AB ("the Main Owner"), which now owns 61.5 per cent of the shares in the Company. The Main Owner is controlled by a number of investors with a background within mining, finance and investments.

The Main Owner has informed the Company their intention to work out a roadmap for creating significant long-term value including operating Nordic Mines at globally competitive costs.

The Main Owner has further informed the Company that their investment case is built upon:

  • Unlocking hidden value in the processing plant to become world class
  • Bringing operational efficiency to the mining operations
  • Ensuring financial discipline and ending Nordic Mines composition plan in the Finnish subsidiary
  • Consolidating and integrating the Nordic gold mining industry

On the request from the Main Owner the Board of Directors of Nordic Mines now calls for an Extra General Meeting (the "EGM") to among other things elect a new Board of Directors reflecting the new ownership structure of the Company. The Main Owner has also given notice that their requirements for a newly elected Board of Directors is to develop a new strategy for Nordic Mines going forward.

The EGM is to be held in Stockholm on 7 January 2016. The final proposal for a new Board of Directors will be presented in due time before the EGM.

Stockholm, 14 december 2015
Nordic Mines AB (publ)

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 14 December 2015 at 8:30 a.m.

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.se.



Press Release (PDF)

2015-12-14 Nordic Mines completes the repurchase of outstanding bank debt

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 14 December 2015

Nordic Mines AB (publ) ("Nordic Mines" or the "Company" and together with its subsidiaries the "Group") announced, by way of a press release on 9 November 2015, that the Company and the Company's lenders had entered into a final agreement under which Nordic Mines would acquire all of the lenders' claims on the Group pursuant to the existing project financing agreement (the "Bank Debt"). The Company has now completed the repurchase of the Bank Debt in accordance with the agreement.

The repurchase of the Bank Debt means that: 

  • The Company repurchases the Bank Debt at a purchase price of EUR 5 million, corresponding to an additional write-down of the initial loan amounts of approximately EUR 10 million. Prior to the first write-down during the summer 2014, the amount of the Bank Debt exceeded EUR 45 million.
  • The Company repurchase the warrants held by the lenders, such warrants corresponding to an ownership of 12 per cent in the Company following exercise of the warrants. The warrants will be cancelled by the Company.
  • The Company resumes full control over its assets that are pledged pursuant to the project financing agreements.

The repurchase of the Bank Debt has been financed through the now completed new issue of shares with pre-emption rights for the Company's shareholders (the "Rights Issue"). The Rights Issue has been registered with the Swedish Companies Registration Office and the new shares are traded on Nasdaq Stockholm as of Thursday 10 December 2015.

Following the registration of the Rights Issue, the total number of shares and votes in the Company amounts to 565,722,756 and the Company's share capital amounts to SEK 249,707,137.8611. Each share having a quotient value of approximately SEK 0.4414.

Stockholm, 14 December 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 8.00 a.m. (CET) on 14 December 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.



Press release (PDF)

2015-12-01 Nordic Mines' proceeds of rights issue received

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.

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, 1 December 2015

Nordic Mines' proceeds of rights issue received

Payments amounting to approximately SEK 80 million have been made in Nordic Mines' ongoing rights issue whereupon the board of directors has declared the conditions for the rights issue fulfilled. Trading in paid subscribed shares is expected to commence on Nasdaq Stockholm on Thursday 3 December 2015.

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has, as previously communicated by way of a press release on 13 November 2015, received applications for subscription of new shares in the Company's ongoing new issue of shares with pre-emption rights for the Company's shareholders (the "Rights Issue") corresponding to approximately SEK 80 million. Following payments of the subscription price in the Rights Issue amounting to, as per the time of this press release, approximately SEK 80 million, the board of directors has made the assessment that the conditions for the Rights Issue have been fulfilled. The Company thereby completes the Rights Issue.

The work of booking paid subscribed shares (Betalda Tecknade Aktier, "BTA" in Swedish) to the respective VP-accounts will now commence. In connection therewith, the registration of the Rights Issue with the Swedish Companies Registration Office will be initiated.

Trading in BTA in Nordic Mines is expected to commence on Nasdaq Stockholm on Thursday 3 December 2015. As soon as possible after the registration of the Rights Issue with the Swedish Companies Registration Office, allotted BTAs will be converted into new shares. Scheduled last day of trading in BTAs is on Friday 4 December 2015. The new shares in Nordic Mines are expected to be subject of trading on Nasdaq Stockholm on Thursday 10 December 2015.

Stockholm, 1 December 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 2.15 p.m. (CET) on 1 December 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-12-01 Nordic Mines informs on payment in the Company's ongoing rights issue

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.

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, 1 December 2015

Nordic Mines informs on payment in the Company's ongoing rights issue

Nordic Mines is expected to receive final payment in the Company's ongoing rights issue during the day. The Company will provide more details as soon as final payment is received.

Nordic Mines AB (publ) has, as previously communicated by way of a press release on 13 November 2015, received applications for subscription of new shares in the Company's ongoing new issue of shares with pre-emption rights for the Company's shareholders corresponding to approximately SEK 80 million.

Stockholm, 1 December 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 10.30 a.m. (CET) on 1 December 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-18 Nordic Mines' share receives observation status

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.

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, 18 November 2015

Nasdaq Stockholm have, after dialogue with Nordic Mines AB (publ) ("Nordic Mines" or the "Company") decided to temporarily give Nordic Mines' share observation status in anticipation of payments for the rights issue for existing shareholders (the "Rights Issue").

As set forth in the press release published on Friday 13 November 2015 and the supplementary prospectus published on Monday 16 November 2015, the Company has entered into an agreement with Lau Su Holding AB (the "Investor") pursuant to which such company has committed to the subscription of 233,500,000 new shares for a total of SEK 46,700,000. The commitment is not secured, but the Indian company Royal Refinery Private Limited has entered into a surety undertaking for its fulfillment. Pursuant to the undertaking, payment for the subscribed shares shall be made no later than 28 November 2015, which date has been agreed due to the requirement of a permit for export of capital from India. Conditional on the undertaking being fulfilled (including due payment), the Investor shall, as consideration for the undertaking, be entitled to a share based compensation corresponding to 114,419,495 new shares (which shall be paid for by set off, based on the subscription price in the Rights Issue, of a cash remuneration of SEK 22,883,899). The undertaking has been procured by the Company in order to ensure reaching a satisfactory subscription rate in the Rights Issue. The agreement, and the therein included commitment fee, has been negotiated between the parties. Several other investors have been contacted and also other forms of financing have been sought. The agreement and the conditions therein have thereby been tested against the market.

As set forth in the Company's prospectus, which was approved and registered by the Swedish Financial Supervisory Authority on Friday 23 October and published by the Company the same date, the Company (as of the date of the prospectus) does not have access to sufficient working capital during the next twelve months. The deficit is expected to arise before the year end and if the Company fails with a capital raising through the Rights Issue it is most likely that it could lead to a new corporate reorganization, bankruptcy or other liquidation of the Company.

The prospectus and the supplementary prospectus is available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com).

Stockholm, 18 November 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 08.00 a.m. (CET) on 18 November 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-16 Publication of a third supplementary prospectus relating to Nordic Mines' rights issue

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.

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, 16 November 2015

The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a third supplementary prospectus for the prospectus released on 23 October 2015, concerning the rights issue announced on 21 September 2015. The supplementary prospectus has been prepared by reason of the outcome of the rights issue and that the Company, if the rights issue is concluded pursuant to such outcome, will get a majority owner.

The supplementary prospectus has today been approved and registered by the Swedish Financial Security Authority (Sw. Finansinspektionen). The supplementary prospectus is now available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com). The supplementary prospectus can also be obtained from Evli Bank in Stockholm during office hours on phone no +46-8-407 80 00.

Pursuant to Chapter 2, Section 34 of the Swedish Financial Instruments Trading Act(1991:980) those investors who have subscribed for or applied for, or in any other manner consented to, subscription for securities covered by the Prospectus before the publication of the supplementary prospectus are entitled to withdraw their subscriptions, applications or consents until 18 November 2015 (i.e., within two working days from the publication of the supplementary prospectus). Withdrawal shall be made in writing to Evli Bank Plc, Stockholmsfilial, Kungsgatan 27, SE-103 26 Stockholm, Sweden. Those investors which have subscribed to shares through nominees shall contact their nominee concerning withdrawal. Subscription which is not withdrawn will remain binding and if the investor wish to remain as subscriber of shares no action is required.

Stockholm, 16 November 2015
Nordic Mines AB (publ)

For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10


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

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 04.30 p.m. (CET) on 16 November 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-13 Nordic Mines receives around SEK 80 million from the new share issue and receives a new industrial main owner

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.

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 13 November 2015

Nordic Mines receives around SEK 80 million from the new share issue and receives a new industrial main owner

Subscription applications corresponding to approximately SEK 80 million were submitted in Nordic Mines AB's (publ) ("Nordic Mines" or "the Company") rights issue for existing shareholders (the "Rights Issue"). The Board of Directors of Nordic Mines ("the Board") therefore has made the assessment that the conditions for reaching a satisfactory subscription rate in the Rights Issue are good and that it should be possible to fulfil all of the terms and conditions for the Rights Issue. Nordic Mines will then also be able to fulfil its commitments in accordance with the agreement with the Company's lenders entered into on 6 October 2015, under which Nordic Mines will acquire all of the lenders' claims on Group companies in accordance with the existing project financing agreement.

Assuming that submitted subscription applications are fulfilled, Nordic Mines will gain a new main owner - Lau Su Holding AB ("the Investor"), which will own 61.5 per cent of the shares. The Investor is controlled by a number of investors with a background in the Indian gold industry among other areas. These investors include Royal Refinery Private Limited, which is based in Mumbai, India.

"We are satisfied with the preliminary outcome of the rights issue and the support from both old shareholders and our new main owner. After we receive the funds from the rights issue, we will be able to conclude the agreement reached with the Company's lenders regarding the acquisition of the debt to the banks and thus regain full control over pledged assets. Nordic Mines now gains financial longevity as it waits for a more beneficial gold price and in addition also the opportunity to start a strategic journey with our new ownership base," comments Nordic Mines CEO Eva Kaijser on the outcome of the rights issue.

Rights Issue

The Rights Issue was decided by the Board on 20 September 2015 and approved by a Nordic Mines extraordinary general meeting on 21 October 2015.

The Company has now received applications for the subscription of new shares in the Rights Issue totalling 397,272,829. In addition, 114,419,495 shares will be issued that will be paid for by offsetting the Investor's share-based commitment compensation (see Commitment to subscribe to new shares below). This means that the number of shares in the Company increases to a total of 565,722,756 and that the Company's share capital increases by SEK 5,116,923.24 to SEK 5,616,923.24 kronor. Of the shares for which subscription applications were received, 150,377,749 shares were subscribed for with preferential rights and 246,895,080 were subscribed for without preferential rights.

Payment

Payment notices will be sent to the subscribers within the next few days. Payments for the Rights Issue must be made in accordance with the included instructions to a special account at Evli Bank. The funds will be released to the Company first after required payments for the issue are received, which is estimated to occur around 28 November 2015, after which the Rights Issue can be concluded.

Once payment for the new shares has been received, the paid subscribed shares (BTAs in Swedish) will be booked on each subscriber's VP account. This is expected to occur at the earliest in week 49. These BTAs will be traded on Nasdaq Stockholm. As soon as the increase in the share capital has been registered by the Swedish Companies Registration Office, received BTAs will be converted into new shares.

The new shares that are received will be admitted for trading on Nasdaq Stockholm.

Commitment to subscribe to new shares

The Company has entered into an agreement with the Investor, which has committed to the subscription of new shares for a total of SEK 46.7 million. As payment for the commitment, the Investor, according to the agreement, is entitled to a share-based compensation, which will be paid by offsetting against additional shares in conjunction with the conclusion of the Rights Issue. After the completed Rights Issue, but not including shares received by way of the share-based compensation, the Investor's ownership corresponds to 51.7 per cent. After offsetting the share-based compensation, the Investor's ownership increases to 61.5 per cent post completion of the rights issue.

The Investor has applied for and received an exemption from the mandatory bid from the Swedish Securities Council since its ownership will exceed 30 per cent of the votes in the Company through the realisation of its commitment in the Rights Issue (AMN 2015:35).

A supplemental prospectus will be published as a result of the information presented in this press release.

For further information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01

Jonatan Forsberg, CFO, +46 (0)76-105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 13 November 2015 at 8:00 a.m.

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.se.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus published by Nordic Mines on its web site.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-09 Publication of a second supplementary prospectus relating to Nordic Mines' rights issue

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.

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, 9 November 2015

Publication of a second supplementary prospectus relating to Nordic Mines' rights issue

The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a second supplementary prospectus for the prospectus released on 23 October 2015, concerning the rights issue announced on 21 September 2015. The supplementary prospectus has been prepared as a result of the Company's final agreement with the Company's lenders, under which Nordic Mines will acquire all of the lenders' claims on Group companies in accordance with the existing project financing agreements.

The supplementary prospectus has today been approved and registered by the Swedish Financial Security Authority (Sw. Finansinspektionen). The supplementary prospectus is now available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com). The supplementary prospectus can also be obtained from Evli Bank in Stockholm during office hours on phone no +46-8-407 80 00. The particular application form for application for subscription in the Rights Issue can be downloaded on Evli Bank's website and Nordic Mines' website. 

Pursuant to Chapter 2, Section 34 of the Swedish Financial Instruments Trading Act(1991:980) those investors who have subscribed for or applied for, or in any other manner consented to, subscription for securities covered by the Prospectus before the publication of the supplementary prospectus are entitled to withdraw their subscriptions, applications or consents until 11 November 2015 (i.e., within two working days from the publication of the supplementary prospectus). Withdrawal shall be made in writing to Evli Bank Plc, Corporate Finance, Kungsgatan 27, SE-103 26 Stockholm, Sweden. Those investors which have subscribed to shares through nominees shall contact their nominee concerning withdrawal. Subscription which is not withdrawn will remain binding and if the investor wish to remain as subscriber of shares no action is required.

Stockholm, 9 November 2015
Nordic Mines AB (publ)

For additional information, please contact:
Eva Kaijser, CEO, +46 (0) 709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

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

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 12.15 p.m. (CET) on 9 November 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-09 Nordic Mines' agreement with the banks finalized

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.

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 9 November 2015

Nordic Mines AB (publ) ("Nordic Mines" or "the Company") has agreed on a final agreement with the Company's lenders, under which Nordic Mines will acquire all of the lenders' claims on Group companies in accordance with the existing project financing agreements. This confirms the agreement in principle, which was announced through a press release on 21 September 2015. The Company is now conducting a new share issue with preferential rights for existing shareholders (the "Rights Issue"), and Nordic Mines intends to fund the purchase through the Rights Issue. The agreement with the Company's lenders entails that:

  • The Company purchases all of the lenders' claims on Group companies in accordance with the existing project financing agreements for a purchase price of EUR 5 million. This corresponds to an additional write-down of the original loan amounts of approximately EUR 10 million. Before the first write-down in the summer 2014 the outstanding debt amounted to more than EUR 45 million.
  • The agreement also includes outstanding warrants held by the lenders corresponding to an ownership of 12 per cent.
  • Nordic Mines regains through this purchase full control over the assets that are pledged in accordance with the project financing agreements.

The Company's obligation to carry out the acquisition is conditional on that the Company's board resolves and announces that the conditions for the Rights Issue have been achieved. If this condition is not achieved no later than 4 December 2015 or the acquisition has not been completed no later than the 13 December 2015, the agreement can be terminated. The agreement can also be terminated before that, if the Company does not obtain subscription applications corresponding to at least the purchase price and there is no reason to expect that the Company will, no later than 13 November 2015, obtain subscription applications or secure other financing, acceptable to the lenders, in an amount corresponding to at least the purchase price.

For the Rights Issue, inter alia, the following terms apply:

  • The subscription price has been set to SEK 0.20 per share.
  • The proceeds from the Rights Issue will, in case of full subscription, amount to just over SEK 108 million prior to transaction costs related to the Rights Issue.
  • The subscription period will run until 9 November 2015.


The prospectus and the subscription form (with or without subscription rights) are available at www.nordicmines.se. A supplementary prospectus will be published by reason of the agreement with the lenders.

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 9 November 2015 at 08:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia 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.se.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus published by Nordic Mines on its web site.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-11-02 Publication of supplementary prospectus relating to Nordic Mines' rights issue

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.

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, 2 November 2015

The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a supplementary prospectus for the prospectus released on 23 October 2015, concerning the rights issue announced on 21 September 2015. The supplementary prospectus has been prepared in connection with the publication of Nordic Mines' interim report for the period January - September 2015.

The supplementary prospectus has today been approved and registered by the Swedish Financial Security Authority (Sw. Finansinspektionen). The supplementary prospectus is now available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com). The supplementary prospectus can also be obtained from Evli Bank in Stockholm during office hours on phone no +46-8-407 80 00. The particular application form for application for subscription in the Rights Issue can be downloaded on Evli Bank's website and Nordic Mines' website. 

Stockholm, 2 November 2015
Nordic Mines AB (publ)

For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0)76-105 13 10


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

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 14.30 a.m. (CET) on 2 November 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-10-30 NORDIC MINES AB (publ) Interim Report January - September 2015

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.

Third quarter of 2015

  • Net income was SEK 0.0 million (SEK 1.3 million) due to the production stop at the Laiva mine.
  • The Company reported an operating loss of SEK -12.6 million (SEK 406.7 million as a result of composition gains) due to the production stop at the Laiva mine.
  • Profit/loss after tax for the period amounted to SEK -15.6 million (SEK 235.9 million), corresponding to SEK -0.29 (SEK 15.54) per share.
  • Comprehensive income for the period amounted to SEK -13.8 million (SEK 224.3 million), corresponding to SEK -0.26 (SEK 14.78) per share.
  • Cash and cash equivalents were SEK 21.1 million (SEK 40.7 million, 30 June 2015) at the end of the period.
  • Equity was SEK 390.0 million (SEK 403.8 million, 30 June 2015) at the end of the period.
  • An agreement in principle was reached with Ab Tallqvist Infra Oy, a local mining contracting firm, to operate the Laiva mine in the future.
  • Nordic Mines Oy has conducted codetermination negotiations with representatives for the employees at the Laiva mine with the aim of realising additional cost savings in the immediate future. Nordic Mines AB (publ) ("Nordic Mines" or "the Company") also initiated a number of additional measures to reduce the Company's operating expenses. The measures as a whole reduce the Company's total operating costs by approximately one-third. Through streamlining, the company's overhead costs have been reduced by approximately 50 percent.
  • Tom Söderman at his own request has decided to step down from his position as General Manager of the Laiva mine and will be replaced until further notice by the Company's current Head of Exploration, Peter Finnäs, starting on 1 November 2015.
  • Nordic Mines implemented the consolidation of shares (reverse split) on a 1:100 basis as resolved by the Annual General Meeting.
  • Nordic Mines AB (publ) has reached an agreement in principle with the Company's lenders that Nordic Mines will buy all of the lenders' claims on Group companies in accordance with the existing project financing agreement.
  • The Board of Directors of Nordic Mines has decided on a new rights issue for current shareholders ("Rights Issue") on the condition that the issue is approved by the extraordinary general meeting ("the Meeting"). The Rights Issue is being conducted with the aim of funding the purchase of all of the lenders' claims on Group companies and to fund the Company for at least 12 months while waiting for more beneficial external factors in the form of primarily the gold price and currency rates.

January - September 2015

  • Net income was SEK 0.0 million (SEK 62.9 million) due to the production stop at the Laiva mine.
  • The Company recorded an operating loss of SEK -67.3 million (SEK 343.8 million).
  • Profit/loss after tax for the period amounted to SEK -76.1 million (SEK -172.3 million), corresponding to SEK -1.41 (SEK 23.5) per share.
  • Comprehensive income for the period amounted to SEK -76.8 million (SEK 154.5 million), corresponding to SEK -1.42 (SEK 21.06) per share.

Significant post balance sheet events

  • The Company held an extraordinary general meeting on 21 October 2015. The Meeting resolved to approve the Board of Director's proposal for a Rights Issue.
  • The Chair of the Board of Nordic Mines and all Board members have announced their intention to subscribe to shares in the Nordic Mines Rights Issue and, where applicable, for a minimum of their pro-rata shares. CEO Eva Kaijser also announced her intention to subscribe to shares in the Rights Issue.

For further information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10

For more information about Nordic Mines, please visit www.nordicmines.com.
The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 30 October 2015 at 8:00 a.m. 

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 AB (publ) Interim report jan – sept 2015

2015-10-29 The Board of Directors and the CEO of Nordic Mines subscribe for shares in the rights issue

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. This is not a legal document.

PRESS RELEASE 29 October 2015

The Chairman and all Directors of Nordic Mines Board of Directors has announced their intention to subscribe for shares in Nordic Mines' rights issue and where applicable equivalent to at least their respective pro rata share. The Company CEO Eva Kaijser has also announced her intention to subscribe for shares in the Company's rights issue.

At full subscription, the rights issue will provide the Company with more than SEK 108 million before issue expenses. The subscription period runs from 26 October 2015 to 9 November 2015 or a later date as decided by the Board of Directors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 29 August 2015 at 3:00 p.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Press release (PDF)

2015-10-23 Publication of prospectus, including new financial information, relating to Nordic Mines' rights issue

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, 23 October 2015

The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a prospectus for the rights issue (the "Rights Issue") announced on 21 September 2015 and resolved upon by the extraordinary general meeting of the Company on 21 October 2015. The prospectus has today been approved and registered by the Swedish Financial Security Authority (Sw. Finansinspektionen).  The prospectus is now available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours on phone no +46-8-407 80 00. The particular application form for application for subscription in the Rights Issue can be downloaded on Evli Bank's website and Nordic Mines' website.

The Company publishes in the prospectus liabilities, equity and net debt as of 30 September 2015. The current interest-bearing liabilities amount to SEK 2.3 million, the non-current interest-bearing liabilities amount to SEK 132.7 million and the equity amounts to SEK 389.9 million. The net debt amounts to SEK 105.6 million. The Company's liquid assets as per the same date amount to SEK 21.1 million.

Conditions for the Rights Issue and conditions for application for subscription

In order to protect the shareholders' from injecting capital to the Company other than if the Rights Issue meets the sufficient subscription rate, the Rights Issue is conditional upon that a sufficiently high acceptance level in the Rights Issue, in the opinion of the Board of Directors, may be achieved and that the Company and the group's lenders entering into, in the opinion of the Board of Directors, the necessary agreements with respect to the receivables on the group companies under the existing finance documents and that such agreements, in the opinion of the Board of Directors, are likely to be implemented as intended. Any application for subscription is conditional on the conditions for the Rights Issue being achieved.

Issue proceeds

The plan is to use the funds raised by the Rights Issue for:

  • The equivalent of EUR 5 million for the purchase of all of the lenders' claims on Group companies.
  • Around EUR 3 million to fund the Company for the next 12 months while waiting for more beneficial external factors in the form of primarily the gold price and currency rates.
  • Excess funds raised from the share issue will provide the Company with enhanced financial longevity and the ability to carry out value-enhancing activities, primarily at the Laiva mine.

The proceeds from the Rights Issue will, in case of full subscription, amount to just over SEK 108 million prior to transaction costs related to the Rights Issue. In order for the acceptance level to be considered sufficiently high, it is, at the time of announcement of the prospectus, the Board of Directors' view that the proceeds of the Rights Issue must amount to around SEK 80 million prior to current transaction costs related to the Rights issue (that is, the equivalent of a minimum subscription volume of in total around SEK 80 million with addition of any, from 16 October 2015, unpaid transaction costs), however that the Board of Directors may take into account other financing (including debt financing)  which together with the proceeds from the Rights issue amounts to around SEK 80 million, prior to current transaction costs related to the Rights issue.

Stockholm, 23 October 2015
Nordic Mines AB (publ)

For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901

For more information about Nordic Mines, please visit; www.nordicmines.se.
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 17.45 a.m. (CET) on 23 October 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-10-21 Statement from Nordic Mines' Extraordinary General Meeting

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, October 21, 2015

Statement from Nordic Mines' Extraordinary General Meeting

Nordic Mines AB (publ) (the "Company" or "Nordic Mines") held an Extraordinary General Meeting earlier today in Stockholm, Sweden.

The Extra General Meeting resolved to approve the resolution by the Board of Directors of September 20, 2015, on a rights issue for the Company's shareholders of no more than 540,304,320 shares at a subscription price of SEK 0.20 and with October 22, 2015, as the record date for receiving subscription rights.

The Extraordinary General Meeting further resolved, in accordance with the Board of Directors' proposal, on the following measures related to the rights issue:

  1. to amend the share capital limits in the Company's Articles of Association in order to enable the share capital reduction,
  2. to reduce the Company's share capital to decrease the share quota value in order to facilitate the rights issue,
  3. to amend the share capital limits and the limits to the number of shares in the Company's Articles of Association in order to facilitate the rights issue,
  4. to amend the share capital limits in the Company's Articles of Association in order to enable the bonus issue; and
  5. on a bonus issue to facilitate the registration of the reduction of the Company's share capital

.
In addition to the above, the Extraordinary General Meeting resolved, in accordance with the Board of Directors' proposal, on a conditioned authorisation for the Board of Directors to resolve on new issues.

For additional information and background and reasons for the decision regarding the rights issue, please refer to the Company's press release as of September 21, 2015.

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901

Jonatan Forsberg, CFO, +46 (0)761 051 310

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

The above information may be information that Nordic Mines is required to make public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 1:00 p.m. (CET) on October 21, 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.



Press release (PDF)

2015-10-21 Nordic Mines announces

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 21 October 2015

Today, October 21 2015, Nordic Mines AB (publ) ("Nordic Mines" or "the Company") will be holding an extraordinary general meeting ("the Meeting") as a result of the Board's decision to conduct a new issue of shares with pre-emption rights for the Company's shareholders subject to the Meeting's subsequent approval ("the Rights Issue"). Due to the Rights Issue, the Company has also opted to move the publication of the Company's financial report for the third quarter forward to 30 October 2015. At the Meeting the Company's CEO, Eva Kaijser, will present the underlying information that Nordic Mines took into consideration prior to its decision to conduct the Rights Issue and the Company's current activities and strategy moving forward, including, for example:

  • In order to obtain enhanced financial longevity while waiting for more beneficial external factors, such as the price of gold and exchange rates, which are needed to restart operations at the Laiva mine, Nordic Mines has initiated a number of measures to reduce the Company's total operating costs. These measures include the cost savings at the Laiva mine that were described in detail in the press release dated 13 August 2015. It is the Company's expectation that the measures, when fully implemented, will reduce the Company's total operating costs by approximately one-third. Through streamlining, the Company's overhead costs have been reduced by approximately 50 percent.
  • The Laiva mine's General Manager, Tom Söderman has, as previously announced, decided at his own request to step down from his post. The Company's current Exploration Manager, Peter Finnäs, will replace Tom Söderman until further notice as the Acting General Manager starting on 1 November 2015.
  • Nordic Mines has made the assessment at this point in time that a gold price of around EUR 1,200 per troy ounce is required to restart operations at the Laiva mine as an independent gold project with sufficient profitability and with the possibility for future financing through loans.
  • In order to fund the restart of the Laiva mine at a later date, the Company's assessment as of today is that an additional capital contribution of EUR 20 million in addition to the Rights Issue would be required whereof approximately half the amount is intended to fund working capital related to the restart. The remaining amount constitutes initial investments and a liquidity reserve for unforeseen costs and administration. This funding is assumed to be a combination of debt financing and additional capital contributions.
  • The Company considers there to be possibilities for strengthening the Laiva project through partnerships and structural transactions with other actors in the Nordic gold mining industry. Nordic Mines believes that gold concentrate from several Nordic gold mines could be refined in the Nordic Mines processing plant, thereby processing the final product all the way from gold concentrate to doré bars and subsequently improving profitability. There are also clear synergies in the form of purchasing optimisation and streamlined administration.
  • Given the current status of the industry and the global factors that are affecting it, the Board of Directors will regularly assess and consider strategic partnerships and mergers as well as divestitures of the Laiva project, in its entirety or in part, if such are considered to be beneficial for the Company's shareholders.

The Meeting is being held as a result of the funding solution previously presented by the Company, which entails that Nordic Mines has reached an agreement in principle with the Company's lenders under which Nordic Mines will acquire all of the lenders' claims on Group companies in accordance with existing project financing agreements. Under the agreement in principle:

  • The Company will acquire all of the lenders' claims on Group companies in accordance with the existing project financing agreements for a purchase price of around EUR 5 million. This corresponds to an additional write-down of around EUR 10 million. The original debt was around EUR 45 million.
  • The agreement also includes outstanding warrants held by the lenders corresponding to an ownership of 12 per cent and the thereto related promissory note.
  • Nordic Mines regains through this purchase full control over the assets that are pledged in accordance with the project financing agreement.

The purchase will be financed through the Rights Issue, which will inject around SEK 108 million into the Company at full subscription. The plan is to use the funds raised by the Rights Issue for:

  • The equivalent of EUR 5 million for the purchase of all of the lenders' claims on Group companies.
  • Around EUR 3 million to fund the Company for the next 12 months while waiting for more beneficial external factors in the form of primarily the gold price and currency rates.
  • Excess funds raised from the share issue will provide the Company with enhanced financial longevity and the ability to carry out value-enhancing activities, primarily at the Laiva mine.

The agreement in principle with the Company's lenders is conditional upon final contract documentation, on formal internal decisions regarding the approval of the agreement being made by each bank and in addition that the Company raises funds for the purchase price.

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

Upcoming informational meetings

Extraordinary general meeting 21 October 2015
Financial statement for Q3 2015  30 October 2015

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 21 October 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia 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.se.



Press release (PDF)

2015-10-19 Last trading day in Nordic Mines' shares with preferential right to participate in the rights issue is 20 October 2015

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, October 19, 2015

Nordic Mines AB (publ) (the "Company" or "Nordic Mines") announced on September 21, 2015, that the Board of Directors had, subject to the Extraordinary General Meeting's subsequent approval, resolved on, inter alia, a new issue of shares with pre-emption rights for the existing shareholders (the "Rights issue").

Final terms for the Rights issue were announced on 16 October 2015 in accordance with the following:

  • The share capital shall be increased by a maximum of SEK 5,403,043.20.
  • The number of shares shall be increased by a maximum of 540,304,320.
  • For each share owned on the record day, 10 subscription rights shall be obtained and 1 subscription right entitles to 1 new share.
  • For each new share, SEK 0.20 shall be paid.

The following preliminary timetable shall apply for the rights issue:

20 October 2015 Last trading day in shares with preferential right to participate in the Rights issue
21 October 2015 First trading day in shares without preferential right to participate in the Rights issue
21 October 2015 EGM to approve the Board of Directors' resolution on the Rights issue
22 October 2015 Record date for participating in the Rights issue. Shareholders that as of this date are registered
in Nordic Mines' share register will receive subscription rights for participation in the Rights
issue
23 October 2015 Preliminary date for publication of the prospectus
26 October -
5 November 2015 
Trading in subscription rights
26 October -
9 November 2015
Subscription period

The notice to the Extraordinary General Meeting is available on Nordic Mines' webpage, www.nordicmines.se.

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901

Jonatan Forsberg, CFO, +46 (0)761 051 310

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

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 8.00 a.m. (CET) on October 19, 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.



Press release (PDF)

2015-10-16 The Board of Directors of Nordic Mines resolves on final terms for rights issue in an amount of not less than SEK 80 million

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, October 16, 2015

On September 21, 2015, the Board of Directors of Nordic Mines AB (publ) (the "Company" or "Nordic Mines") announced that it had, subject to the Extraordinary General Meeting's subsequent approval, resolved on a new issue of shares with pre-emption rights for the existing shareholders (the "Rights issue") and on a directed new share issue.

The Board of Directors has now resolved on the final terms for (i) the Rights issues (item 7 d) on the proposed agenda) and (ii) the thereto related amendment of the Articles of Association (item 7 c) on the proposed agenda), in accordance with the below. Further, the Board of Directors has at the same time, after evaluating the capital raise process, decided to withdraw the directed new share issue (item 7 e) on the proposed agenda).

The Extraordinary General Meeting will be held in Stockholm on October 21, 2015, at 9.30 a.m. (CET). The notice to the Extraordinary General Meeting is available on Nordic Mines' webpage, www.nordicmines.se.

Final terms, etc.
7 c) Amendment of the Articles of Association
The Board of Directors proposes that the Extraordinary General Meeting resolves to amend paragraphs 4 and 5 of the Company's Articles of Association regarding the limits for the share capital and the number of shares, respectively, to have the following wording.

Limits for the share capital (§ 4 of the Articles of Association)
The share capital shall not be less than SEK 2,000,000 and not be higher than SEK 8,000,000.

Limits for the number of shares (§ 5 in the Articles of Association)
The number of shares shall not be less than 200,000,000 shares and not more than 800,000,000 shares.

7 d) Rights issue
The Board of Directors has resolved on the following terms and conditions with respect to the Rights issue:

  • The share capital shall be increased by a maximum of SEK 5,403,043.20.
  • The number of shares shall be increased by a maximum of 540,304,320.
  • For each share owned on the record day, 10 subscription rights shall be obtained and 1 subscription right entitles to 1 new share.
  • For each new share, SEK 0.20 shall be paid.

The subscription price represents a discount of approximately 24 per cent compared to the theoretical share price after the separation of subscription rights (TERP), based on the closing price of the Nordic Mines share on October 15, 2015, on Nasdaq Stockholm. Compared to the volume weighted average price the last 30 trading days of the Nordic Mines share on Nasdaq Stockholm up to and including October 15, 2015, the subscription price represents a discount of approximately 79 per cent.

The Rights issue is conditional upon (i) that the Company and the group's lenders entering into, in the opinion of the Board of Directors, the necessary agreements with respect to the receivables on the group companies under the existing finance documents and that such agreements, in the opinion of the Board of Directors, are likely to be implemented as intended and (ii) that a sufficiently high acceptance level in the Rights issue, in the opinion of the Board of Directors, may be achieved.

The proceeds from the Rights issue will, in case of full subscription, amount to just over SEK 108 million prior to transaction costs related to the Rights issue. In order for the acceptance level to be considered sufficiently high, it is, at the time of announcement of this press release, the Board of Directors view that the proceeds of the Rights issues must amount to not less than SEK 80 million prior to current transaction costs related to the Rights issue, however that the Board of Directors may take into account other financing (including debt financing) which together with the proceeds from the Rights issue amounts to not less than SEK 80 million, prior to current transaction costs related to the Rights issue.

The record date with Euroclear Sweden AB for receiving subscription rights is October 22, 2015. The subscription period will run between October 26, 2015, and November 9, 2015. The Board of Directors is however authorized to, if necessary, prolong the time for subscription.

For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0)761 051 310

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

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 8.00 a.m. (CET) on October 16, 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are 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 is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.



Final conditions rights issue

2015-09-30 Publication of changes in the total number of shares and votes in Nordic Mines

PRESS RELEASE SEPTEMBER 30, 2015

The total number of shares and votes in Nordic Mines AB (publ) as per September 30, 2015, amounts to 54,030,432.

The decrease in the total number of shares and votes during September 2015 is a result of the previously resolved and announced reverse split of the company's shares, in the ratio 1:100, which was registered with the Swedish Companies Registration Office on September 10, 2015.

For additional information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published at 8:00 a.m on September 30, 2015.



Publication of changes in the number of shares and votes

2015-09-21 Kallelse till extra bolagsstämma i Nordic Mines AB (publ)

 

Aktieägarna i Nordic Mines AB (publ), organisationsnummer 556679-1215 ("Bolaget"), kallas härmed till extra bolagsstämma onsdagen den 21 oktober 2015 klockan 09.30 på Restaurang Locanda, Mäster Samuelsgatan 60, i Stockholm. Insläpp till stämman sker från klockan 09.15. Enklare frukost serveras i samband med stämman.

A.     Anmälan m.m.

Aktieägare som önskar delta vid stämman ska:

  1. dels vara införd i den av Euroclear Sweden AB förda aktieboken senast torsdagen den 15 oktober 2015;
     
  2. dels senast klockan 15.00 torsdagen den 15 oktober 2015 anmäla sig till Bolaget antingen per post: Nordic Mines AB (publ), Mäster Samuelsgatan 60, 8tr., 111 21 Stockholm, per telefon: 08-505 165 00 eller per e-post: info@nordicmines.se.

I anmälan ska uppges fullständigt namn, person- eller organisationsnummer, aktieinnehav, adress, telefonnummer dagtid och, i förekommande fall, uppgift om ställföreträdare, ombud eller biträden (högst två). Anmälan ska i förekommande fall åtföljas av fullmakter, registreringsbevis och andra behörighetshandlingar.

B.     Förvaltarregistrerade aktier

Aktieägare som låtit förvaltarregistrera sina aktier måste, för att äga rätt att delta vid stämman, dessutom tillfälligt låta inregistrera sina aktier i eget namn i den av Euroclear Sweden AB förda aktieboken. Sådan omregistrering måste vara verkställd senast torsdagen den 15 oktober 2015, vilket innebär att aktieägaren i god tid före detta datum måste begära omregistrering hos förvaltaren.

C.     Ombud m.m.

Aktieägare som avser att närvara genom ombud ska utfärda skriftlig, av aktieägaren underskriven och daterad fullmakt för ombudet. Om fullmakten utfärdas av juridisk person ska bestyrkt kopia av registreringsbevis eller motsvarande för den juridiska personen bifogas fullmakten. Fullmakten är giltig högst ett år från utfärdandet, eller under den längre giltighetstid som anges i fullmakten, dock längst fem år från utfärdandet. Fullmakt i original samt eventuellt registreringsbevis bör i god tid före stämman insändas till Bolaget på ovan angiven postadress. Bolaget tillhandahåller fullmaktsformulär på begäran och detta finns också tillgängligt på Bolagets webbplats, www.nordicmines.se.

D.     Förslag till dagordning

  1. Stämmans öppnande
  2. Val av ordförande på stämman
  3. Upprättande och godkännande av röstlängd
  4. Val av en eller två justeringsmän att jämte ordföranden justera protokollet
  5. Prövning av om stämman blivit behörigen sammankallad
  6. Dagordningens godkännande
  7. Beslut om:
    1. ändring av bolagsordningen;
    2. minskning av aktiekapital utan indragning av aktier för avsättning till fritt eget kapital;
    3. ändring av bolagsordningen;
    4. godkännande av styrelsens beslut om nyemission med företrädesrätt för aktieägarna;
    5. godkännande av styrelsens beslut om riktad nyemission;
    6. ändring av bolagsordningen; och
    7. fondemission utan utgivande av nya aktier
  8. Emissionsbemyndigande
  9. Stämmans avslutande

E.     Förslag till beslut

Punkt 2 Val av ordförande vid stämman

Valberedningen avser återkomma med förslag till ordförande vid stämman så snart som möjligt och senast i samband med stämman.

Punkt 7 Kapitalanskaffning och därtill hörande beslut

Information med anledning av styrelsens förslag enligt denna punkt 7

Styrelsen har genom pressmeddelande publicerat måndagen den 21 september 2015 offentliggjort att styrelsen söndagen den 20 september 2015 beslutat om, under förutsättning av stämmans efterföljande godkännande, (i) en nyemission med företrädesrätt för aktieägarna och (ii) en riktad nyemission till på förhand vidtalade långsiktiga investerare, med bemyndigande för styrelsen att besluta om de slutliga villkoren för sådana nyemissioner.

Styrelsen förbehåller sig rätten att återkalla ett eller flera av de beslutade och/eller föreslagna åtgärderna enligt denna punkt 7 om, enligt styrelsens bedömning, en eller flera av dessa åtgärder skulle visa sig inte vara erforderliga. Sådant eventuellt återkallande avses att meddelas vid en tidpunkt som ligger i nära anslutning till stämman.

Åtgärderna enligt denna punkt 7 är villkorade av att Bolaget och koncernens långivare träffar, enligt styrelsens bedömning, erforderliga överenskommelser avseende samtliga fordringar på koncernbolag enligt befintligt projektfinansieringsavtal och att överenskommelserna, enligt styrelsens bedömning, kan förväntas genomföras på avsett sätt.

Respektive nyemission enligt punkterna 7 d) och e) nedan förutsätter att stämman även beslutar att justera Bolagets bolagsordning (avseende gränserna för aktiekapitalet och antal aktier), att minska Bolagets aktiekapital och om fondemission, allt i enlighet med vad som framgår nedan i denna punkt 7.

Punkt 7 a) Beslut om ändring av bolagsordningen

För att möjliggöra den av styrelsen föreslagna minskningen av Bolagets aktiekapital enligt punkt 7 b) nedan, föreslår styrelsen att stämman beslutar om att bestämmelsen i § 4 i Bolagets bolagsordning gällande gränserna för aktiekapitalet ändras så att aktiekapitalet ska utgöra lägst 500 000 kronor respektive inte överstiga 2 000 000 kronor.

Punkt 7 b) Beslut om minskning av aktiekapital utan indragning av aktier för avsättning till fritt eget kapital

Bolagets aktiekapital uppgår per dagen för kallelsen till 244 590 214,6211 kronor fördelat på 54 030 432 aktier, envar aktie med ett kvotvärde om 4,5269 kronor.

För att underlätta de av styrelsen beslutade nyemissionerna enligt punkterna 7 d) och e) nedan, föreslår styrelsen att stämman beslutar om minskning av Bolagets aktiekapital med 244 049 910,3011 kronor, att genomföras utan indragning av aktier, för avsättning till fritt eget kapital.

Efter minskningen kommer Bolagets aktiekapital att uppgå till
540 304,3200 kronor fördelat på sammanlagt 54 030 432 aktier (före
nyemissionerna enligt punkterna 7 d) och e) nedan), envar aktie med ett
kvotvärde om 0,01 krona.

Beslutet om minskning av aktiekapitalet enligt denna punkt 7 b) förutsätter ändring av bolagsordningen enligt punkt 7 a) ovan.

Punkt 7 c) Beslut om ändring av bolagsordningen

För att möjliggöra de av styrelsen beslutade nyemissionerna enligt punkterna 7 d) och e) nedan, föreslår styrelsen att stämman beslutar om att bestämmelserna i §§ 4 och 5 i Bolagets bolagsordning gällande gränserna för aktiekapitalet respektive antal aktier ändras i erforderlig utsträckning.

Därvid ska de av styrelsen föreslagna nya gränserna för (i) aktiekapitalet inte kunna understiga 500 000 kronor respektive överstiga 120 000 000 kronor och (ii) antalet aktier inte kunna understiga 50 000 000 aktier respektive överstiga 12 000 000 000 aktier, varvid minimikapitalet inte får vara mindre än en fjärdedel av maximikapitalet och det lägsta antalet aktier inte får vara färre än en fjärdedel av det högsta antalet aktier.

Det fullständiga förslaget till beslut om bolagsordningsändring kommer att fastställas och offentliggöras av styrelsen i nära anslutning till stämman.

Punkt 7 d) Beslut om godkännande av nyemission med företrädesrätt för aktieägarna

Styrelsen föreslår att stämman godkänner styrelsens beslut fattat den 20 september 2015 om nyemission med företrädesrätt för aktieägarna, på i huvudsak följande villkor.

Samtliga aktieägare i Bolaget ska ha företrädesrätt att teckna de nya aktierna i förhållande till det antal aktier de äger. Avstämningsdag för fastställande av vilka aktieägare som ska ha rätt att teckna aktier med företrädesrätt (det vill säga att erhålla teckningsrätter) ska vara den 22 oktober 2015.

Teckning av nya aktier med stöd av teckningsrätter ska ske genom kontant betalning eller teckning på särskild teckningslista under tiden från och med den 26 oktober 2015, eller sådant senare datum som infaller tre bankdagar efter att emissionsprospektet har godkänts och registrerats av Finansinspektionen, och under en period om två veckor därefter. Styrelsen ska bemyndigas att om så erfordras förlänga teckningstiden. Teckning av aktier utan stöd av teckningsrätter ska ske under samma tid. Teckning av nya aktier enligt eventuella åtagande om så kallad underwriting eller teckningsgaranti ska dock kunna ske senast fjärde bankdagen efter teckningstidens utgång. Teckning ska i sådana fall ske på särskild teckningslista. Betalning för aktier som tecknas utan stöd av teckningsrätter eller som tecknas med stöd av teckningsrätter på särskild teckningslista ska erläggas kontant i enlighet med instruktioner på avräkningsnota, dock senast tredje bankdagen efter utfärdandet av avräkningsnotan. De nya aktierna ska medföra rätt till utdelning första gången på den avstämningsdag för utdelning som inträffar närmast efter det att aktierna registrerats hos Bolagsverket. Eventuell överkurs ska avsättas till överkursfonden.

Styrelsen (eller den som styrelsen utser inom sig) bemyndigas att, senast den dag som infaller fem vardagar före avstämningsdagen, fastställa det belopp, högsta belopp eller det lägsta och högsta belopp med vilket Bolagets aktiekapital ska ökas, det antal aktier, högsta antal aktier eller det lägsta och högsta antal aktier som ska ges ut och vilket belopp som ska betalas för varje ny aktie.

Beslutet om nyemission av aktier enligt denna punkt 7 d) förutsätter ändring av bolagsordningen enligt punkt 7 c) ovan.

Företrädesemissionen är villkorad av att en tillräcklig anslutningsgrad i företrädesemissionen (med beaktande även av den riktade nyemission som behandlas i punkt 7 e) nedan) enligt styrelsens bedömning kan uppnås. Företrädesemissionen enligt denna punkt 7 d) kan sålunda komma att återkallas.

Punkt 7 e) Beslut om godkännande av riktad nyemission

Styrelsen föreslår att stämman godkänner styrelsens beslut fattat den 20 september 2015 om nyemission riktad till, med avvikelse från aktieägarnas företrädesrätt, en eller flera på förhand vidtalade investerare som bedöms som långsiktiga, på i huvudsak följande villkor.

Teckning av nya aktier ska ske genom kontant betalning eller teckning på särskild teckningslista under tiden från och med den 26 oktober 2015. Betalning för aktier som tecknas på särskild teckningslista ska erläggas kontant i enlighet med instruktioner på avräkningsnota, dock senast tredje bankdagen efter utfärdandet av avräkningsnotan. De nya aktierna ska medföra rätt till utdelning första gången på den avstämningsdag för utdelning som inträffar närmast efter det att aktierna registrerats hos Bolagsverket. Eventuell överkurs ska avsättas till överkursfonden.

Styrelsen (eller den som styrelsen utser inom sig) bemyndigas att, innan teckningstiden börjar, fastställa det belopp, högsta belopp eller det lägsta och högsta belopp med vilket Bolagets aktiekapital ska ökas, det antal aktier, högsta antal aktier eller det lägsta och högsta antal aktier som ska ges ut och vilket belopp som ska betalas för varje ny aktie.

Skälet till avvikelsen från aktieägarnas företrädesrätt är att styrelsen, efter sonderingar med befintliga aktieägare och potentiella nya investerare, bedömt att anskaffning av nytt kapital kraftigt underlättas om en del eller hela kapitalanskaffningen sker genom en riktad nyemission. Med hänsyn härtill har en riktad nyemission ansetts vara till fördel för Bolaget och dess aktieägare.

Beslutet om nyemission av aktier enligt denna punkt 7 e) förutsätter ändring av bolagsordningen enligt punkt 7 c) ovan.

Punkt 7 f) Beslut om ändring av bolagsordningen

För att möjliggöra den fondemission som föreslås i punkt 7 g) nedan, föreslår styrelsen att stämman beslutar om att bestämmelserna i 4 § i Bolagets bolagsordning gällande gränserna för aktiekapitalet ändras så att aktiekapitalet ska utgöra lägst 200 000 000 kronor respektive inte överstiga 800 000 000 kronor.

Punkt 7 g) Beslut om fondemission utan utgivande av nya aktier

För att undvika att behöva Bolagsverkets eller allmän domstols tillstånd för att verkställa den av styrelsen under punkt 7 b) ovan föreslagna minskningen av Bolagets aktiekapital, föreslår styrelsen att stämman beslutar om att öka Bolagets aktiekapital genom att 244 049 910,3011 kronor överförs från Bolagets fria egna kapital. Fondemissionen ska ske utan utgivande av nya aktier.

Beslutet om fondemission enligt denna punkt 7 g) förutsätter ändring av bolagsordningen enligt punkt 7 f) ovan.

Punkt 8 Emissionsbemyndigande

Styrelsen föreslår att stämman bemyndigar styrelsen att, för det fall kapitalanskaffningen enligt punkt 7 ovan inte genomföras, vid ett eller flera tillfällen under tiden fram till nästa årsstämma, med eller utan avvikelse från befintliga aktieägares företrädesrätt, besluta om emission av aktier, teckningsoptioner och/eller konvertibler enligt följande.

Emission ska kunna ske upp till det högsta antal aktier som tillåts enligt vid var tid gällande bolagsordning. Emission ska kunna ske med eller utan föreskrift om apport, kvittning eller andra villkor. Skälet till att styrelsen ska kunna fatta beslut om emission av aktier, teckningsoptioner och/eller konvertibler med avvikelse från aktieägarnas företrädesrätt och/eller med bestämmelse om apport- och kvittningsemission eller annars med villkor enligt ovan är att Bolaget ska ha flexibilitet att kunna anskaffa nödvändigt ytterligare kapital.

F.      Övrigt, majoritetskrav

Styrelsen föreslår att bolagsstämmans beslut i enlighet med punkterna 7 a) - g) ovan ska antas som ett beslut. Beslut enligt punkterna 7 och 8 ovan fordrar bifall av aktieägare representerande minst två tredjedelar av såväl de avgivna rösterna som de vid stämman företrädda aktierna.

G.     Frågor till styrelsen och den verkställande direktören

Aktieägare har möjlighet att begära upplysningar om förhållanden som kan inverka på bedömningen av ett ärende på dagordningen. Upplysningsplikten avser även Bolagets förhållande till annat koncernföretag och sådana förhållanden beträffande dotterföretag som avses i föregående mening. Sådan information lämnas av styrelsen eller den verkställande direktören vid stämman under förutsättning att uppgifterna kan lämnas utan väsentlig skada för Bolaget.

H.     Antal aktier och röster

Det totala antalet aktier och röster i Bolaget per dagen för kallelsen till stämman uppgår till 54 030 432. Bolaget innehar inte några egna aktier[1].

I.       Handlingar

Styrelsens fullständiga beslutsförslag och övriga handlingar som ska tillhandahållas inför stämman kommer senast tre veckor före stämman att hållas tillgängliga på Bolagets webbplats, www.nordicmines.se, hos Bolaget på Mäster Samuelsgatan 60, 8tr., 111 21 Stockholm och skickas kostnadsfritt till de aktieägare som så begär och uppger sin postadress. Handlingarna kommer även att finnas tillgängliga vid stämman.

* * *
Stockholm i september 2015
Nordic Mines AB (publ)
Styrelsen

För ytterligare information kontakta:

Eva Kaijser, VD, +46 70 932 09 01   
Jonatan Forsberg, CFO, +46 761 051 310

För mer information om Nordic Mines, vänligen se; www.nordicmines.se

Ovanstående information kan vara sådan information som Nordic Mines AB (publ) ska offentliggöra enligt lagen om värdepappersmarknaden och/eller lagen om handel med finansiella instrument. Informationen publicerades klockan 08:00 den 21 september 2015.

Nordic Mines är ett nordiskt gruv- och prospekteringsföretag. Vid Laivagruvan i Finland producerades guld under åren 2011 till och med 2014. Fyndigheten är en av de största i Norden. Nordic Mines är medlem i Svemin och tillämpar dess rapporteringsregler för publika gruv- och prospekteringsbolag. Nordic Mines aktie är upptagen till handel på Nasdaq Stockholms Small Cap-lista. Se även www.nordicmines.se.


[1] Med undantag för sådana aktier som i enlighet med 4 kap. 50 § aktiebolagslagen (2005:551) har övergått till Bolaget i samband med den sammanläggning av Bolagets aktier som registrerades av Bolagsverket den 10 september 2015 och som ännu inte har avyttrats.



Kallelse till extra bolagsstämma i Nordic Mines AB (publ)

2015-09-21 Nordic Mines has reached an agreement in principle with the Company's lenders regarding the repurchase of outstanding debt

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. This is not a legal document.

PRESS RELEASE 21 September 2015

Nordic Mines AB (publ) ("Nordic Mines" or "the Company") has reached an agreement in principle with the Company's lenders that Nordic Mines will buy all of the lenders' claims on Group companies in accordance with the existing project financing agreement. Nordic Mines intends to finance the purchase through one or more new share issues. Under the agreement in principle:

  • The Company buys all of the lenders' claims on Group companies in accordance with the existing project financing agreement at a consideration of around EUR 5 million, which corresponds to a new write-down of around EUR 10 million. The original debt was EUR 45 million.
  • The agreement also includes outstanding warrants held by the lenders corresponding to an ownership of 12%.
  • Nordic Mines regains through this purchase full control over the assets that are pledged in accordance with the project financing agreement.

The purchase will be financed through new share issues that will inject around SEK 110 million into the Company at full subscription, but as a minimum around SEK 80 million. The plan is to use the funds raised by the share issues for:

  • The equivalent of EUR 5 million for the purchase of all of the lenders' claims on Group companies.
  • Around EUR 3 million to finance the Company for the next 12 months while waiting for more beneficial external factors in the form of primarily the gold price and currency rates.
  • Excess funds raised from the share issues will provide the Company with enhanced financial longevity and the ability to carry out value-enhancing activities, primarily at the Laiva mine.

The agreement in principle with the Company's lenders is conditional on the final agreement documentation, that formal internal decisions regarding the approval of the agreement are made by each bank and that the Company raises funds for the consideration through upcoming share issues. Given these developments, the Board of Directors of Nordic Mines has decided to summon an extraordinary general meeting to decide on conditional share issues in the form of a rights issue and/or a directed new share issue for the general meeting's approval (for more information, please refer to point 7 in today's notice to the Annual General Meeting). The Company will provide information about conditions, volume and transactional structure prior to the extraordinary general meeting of Nordic Mines on 21 October 2015.

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 21 September 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia 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.se.



Nordic Mines has reached an agreement in principle

2015-08-31 Publication of changes in the total number of shares and votes in Nordic Mines

PRESS RELEASE AUGUST 31, 2015

The total number of shares and votes in Nordic Mines AB (publ) as per August 31, 2015, amounts to 5 403 043 200. Implying that during August 2015 the total number of shares and votes has increased with 4 (due to a directed new issue in accordance with information disclosed separately).

For additional information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published at 8:05 a.m on August 31, 2015.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Changes in the total number of shares in Nordic Mines

2015-08-31 Nordic Mines consolidates its shares

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 31 August 2015

The Annual General Meeting for Nordic Mines AB (publ) ("Nordic Mines" or "the Company") resolved on 30 June 2015 to reduce the Company's share capital to cover losses and to carry out a reorganisation of its shares via a reverse split on a 1-for-100 basis, which means that 100 shares will be consolidated to a single share. Since the measures were approved by its lenders, the Company will now implement the AGM's resolution.

Directed share issue
In order to achieve an evenly distributable number of shares in the Company and thus facilitate a consolidation of the Company's shares, the AGM granted the Company's Board of Directors the authorisation to decide on a directed issue of shares in the Company. Pursuant to this authorisation from the AGM, the Board decided on a directed issue of four shares to Evli Corporate Finance AB. The new shares were issued at a subscription price up to the existing shares' quota value (in total SEK 0.1811).

The total number of outstanding shares in Nordic Mines after the directed issue is 5,403,043,200.

Consolidation of shares (1:100)
The resolution by the AGM on the consolidation of the Nordic Mines share entails that 100 existing shares will be consolidated into one new share. Pursuant to the authorisation granted by the AGM, the Board has determined that the record date for the consolidation will be 16 September 2015.

The final day to trade Nordic Mines shares on NASDAQ Stockholm before the consolidation is 14 September 2015. The first day to trade Nordic Mines shares after the consolidation is 15 September 2015, which means that the price of the share as of 14 September 2015 will reflect the effect of the consolidation. Please note that as of this date the share will be traded under a new ISIN code, SE0007491105.

The consolidation will reduce the total number of shares in Nordic Mines from 5,403,043,200 to 54,030,432. The quota value for the Company's shares after the consolidation will be SEK 4.5269 per share. The Company's share capital will not be affected by the consolidation.

For shareholders who do not own a number of shares that corresponds to a whole number of new shares on the record date, the excess number of shares will be taken over by Nordic Mines and sold. The proceeds from the sale of the excess shares will be paid to entitled shareholders around 21 September 2015.

Schedule for the consolidation of shares

14 September 2015 Last day for trade before the consolidation
15 September 2015 First day for trade following the consolidation New ISIN code SE0007491105
16 September 2015 Record date for the consolidation

Reduction in share capital to cover losses
The AGM also resolved to reduce the Company's share capital by SEK 147,245,000 to cover losses without withdrawing shares. Since the reduction in share capital was registered by the Swedish Companies Registration Office on 20 August 2015, the Company's share capital is SEK 244,590,214.44.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 31 August 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia 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.se.



Nordic Mines consolidates its shares

2015-08-13 Nordic Mines AB (publ) Interim report January - June 2015

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.

                                                                

Second quarter 2015

  • Net income was SEK 0.0 million (SEK 10.0 million) due to the production stop at the Laiva mine.
  • The Company reported an operating loss of SEK -28.4 million (SEK -26.0 million) due to the production stop at the Laiva mine.
  • Profit/loss after tax for the period amounted to SEK -31.3 million (SEK -27.1 million), corresponding to SEK -0.01 (SEK -0.08) per share.
  • Comprehensive income for the period amounted to SEK -31.9 million (SEK -32.8 million), corresponding to SEK -0.01 (SEK -0.10) per share.
  • Cash and cash equivalents were SEK 40.7 million (SEK 57.9 million, 31 March 2015) at the end of the period.
  • Equity was SEK 403.8 million (SEK 435.7 million, 31 March 2015) at the end of the period.
  • As Nordic Mines decided to stop production at the Laiva mine until further notice, no ore was processed during the period.
  • The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines", "the Company" or "the Group") appointed Eva Kaijser the new CEO of the Group. More information is available under New CEO of Nordic Mines.
  • The Board of Directors of Nordic Mines has decided to delay the start of production at the Laiva mine until further notice. However, the Company is continuing to work on the preparation of a financing solution which given the right conditions would make it possible to restart operations at the Laiva mine with sufficient profitability. More information is available under Nordic Mines delays the start of production at the Laiva mine and Strategy and financing for Nordic Mines and the Laiva mine.
  • Nordic Mines held its Annual General Meeting (AGM) for the Company on 30 June 2015. At the AGM a Board of Directors for Nordic Mines was elected consisting of Lennart Schönning (Chair), Ulla-Britt Fräjdin-Hellqvist (Deputy Chair), Krister Söderholm, Tord Cederlund and Manfred Lindvall. More information is available under Annual General Meeting.

January - June 2015

  • Net income was SEK 0.0 million (SEK 61.6 million) due to the production stop at the Laiva mine.
  • The Company recorded an operating loss of SEK -54.7 million (SEK -62.8 million).
  • Profit/loss after tax for the period amounted to SEK -60.5 million (SEK -63.6 million), corresponding to SEK -0.01 (SEK -0.19) per share.
  • Comprehensive income for the period amounted to SEK -63.0 million (SEK -69.9 million), corresponding to SEK -0.01 (SEK -0.20) per share.
  • Cash and cash equivalents were SEK 40.7 million (SEK 57.9 million, 31 March 2015) at the end of the period.
  • Equity was SEK 403.8 million (SEK 435.7 million, 31 March 2015) at the end of the period.

Significant post balance sheet events

  • Nordic Mines has implemented a number of measures with the aim of achieving more flexibility before a future re-start of operations at the Laiva mine and realising additional cost savings in the short term. An agreement in principle was reached with Ab Tallqvist Infra Oy, a local mining contracting firm, to operate the Laiva mine in the future. Nordic Mines Oy announced that it will be extending an invitation for codetermination negotiations in order to realise additional cost savings in the near future at the Laiva mine.
  • Current General Manager Tom Söderman at his own request has decided to leave his post at the end of 2015. More information is available under Changes at the Laiva mine.
  • The Company's lenders have expressed to the Company that they believe that the Group is in violation of the current project financing agreement on a number of points and has submitted a request to the Company on 10 August 2015 for a clarification from the Company regarding the Company's financing. The Company is therefore holding discussions with its lenders. If Nordic Mines is in significant breach of its project financing agreement, the bank consortium is entitled to apply for a default of the Finnish composition plan. More information is available under Significant risks and uncertainties.

  

For further information, please contact:

Eva Kaijser, CEO, +46 70 932 09 01

Jonatan Forsberg, CFO, +46 76 105 13 10

 

For further information regarding Nordic Mines, please connect to www.nordicmines.com 

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 08.05 (CET) on August 13, 2015. 

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines AB (publ) Interim report January - June 2015

2015-08-13 Nordic Mines announces

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. This is not a legal document.

PRESS RELEASE 13 August 2015

Changes at the Laiva Mine
With the aim of obtaining even more flexibility before a future re-start of operations at the Laiva mine and for realising additional cost savings in the short term, Nordic Mines AB (publ) ("Nordic Mines", "the Company" or "the Group") is now implementing a number of measures:

  • Agreement in principle with Ab Tallqvist Infra Oy, a local mining contracting firm, to operate the Laiva mine in the future
  • Nordic Mines Oy will be extending an invitation for codetermination negotiations with the goal of realising additional cost savings in the near future at the Laiva mine
  • Current General Manager Tom Söderman at his own request has decided to leave his post at the end of 2015

The agreement in principle with Ab Tallqvist Infra Oy entails that the local mining contractor will become a strategic partner of Nordic Mines and take significantly more responsibility for the operation of the Laiva mine than it did before. This also provides Nordic Mines with more flexibility regarding the restart of operations at the Laiva mine, primarily in terms of staffing. The Finnish subsidiary, Nordic Mines Oy, will invite employee representatives to codetermination negotiations in accordance with Finnish law. The aim of these negotiations is realise additional cost savings in the near future and thus extend the time available to find a financing solution for the Company and the Laiva mine. Current General Manager Tom Söderman at his own request has also decided to leave his post at the end of 2015

Strategy and financing for Nordic Mines and the Laiva mine
The Company's lenders have expressed to the Company that they believe that the Group is in violation of the current project financing agreement on a number of points and has submitted a request to the Company on 10 August 2015 for a clarification regarding the Company's financing. The Company is therefore holding discussions with its lenders. If Nordic Mines is in significant breach of its project financing agreement, the bank consortium is entitled to apply for a default of the Finnish composition plan.

The Company is continuing to work on the preparation of a financing solution which given the right conditions would make it possible to restart operations at the Laiva mine with sufficient profitability.  Such a solution could consist of, individually or in combination, for example, share issues and/or collaborations with strategic or financial partners, the pre-sale of gold production and gold deliveries, the renegotiation of supplier terms and other types of bridge financing for working capital.

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 13 August 2015 at 8:00 a.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nordic Mines announces

2015-06-30 Communiqué from Nordic Mines' Annual General Meeting 2015

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. This is not a legal document.

PRESS RELEASE 30 JUNE 2015

The Annual General Meeting (the "Meeting") in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") held today 30 June 2015, at Drabanten företagshotell, Bangårdsgatan 13, in Uppsala, Sweden, resolved in accordance with the proposed resolutions set forth in the notice to attend the Meeting, except as regards the proposed matter under item 15 of the proposed agenda which was withdrawn by the Board of Directors on 25 June 2015.

Resolution on adoption of the balance sheet and income statement, disposal of the result and discharge from liability

The Meeting resolved to adopt the balance sheet and the income statement as well as the consolidated income statement and the consolidated balance sheet for the financial year 2014.

The Meeting resolved that no dividend will be paid for the financial year 2014 and that the accumulated loss is carried forward in an amount of SEK 147,245,000.

The Meeting granted each of the members of the Board of Directors and the managing director discharge from liability for the financial year 2014.

Resolution on the number of Board members

The Meeting resolved that the number of Board members shall be five with no deputy members and that the Company shall have one auditor without deputy auditor.

Resolution on remuneration to the Board of Directors and the auditor

The Meeting resolved that remuneration, for the period until the end of the next Annual General Meeting, shall be paid to the Board members in a total amount of SEK 1,150,000, of which SEK 300,000 shall be payable to the Chairman of the Board of Directors, SEK 250,000 shall be payable to the Deputy Chairman of the Board of Directors and SEK 200,000 to each of the other Board members.

Further, the Meeting resolved that compensation to the auditor shall be paid according to approved invoice.

Election of Board members, chairman of the Board of Directors and auditor

The Meeting resolved to, for the period up until the end of the next Annual General Meeting, re-elect Lennart Schönning and Krister Söderholm and to elect Ulla-Britt Fräjdin-Hellqvist, Tord Cederlund and Manfred Lindvall to the Board of Directors. Lennart Schönning was re-elected as the Chairman of the Board of Directors and Ulla-Britt Fräjdin-Hellqvist was elected as the Deputy Chairman of the Board of Directors.

The Meeting further resolved to, for the period up until the end of the next Annual General Meeting, re-elect Öhrlings PricewaterhouseCoopers AB as auditor of the Company.

Resolution on appointment of a Nomination Committee

The Meeting resolved to appoint a Nomination Committee ahead of the Annual General Meeting 2016 in accordance with the proposal set forth in the notice to attend the Meeting.

Resolution on principles for remuneration to senior management

The Meeting resolved to adopt principles for remuneration to the managing director and other senior executives of the Company in accordance with the proposal set forth in the notice to attend the Meeting.

Resolution on a reduction of the share capital to cover losses

The Meeting resolved to reduce the Company's share capital by SEK 147,245,000 to be carried out without retirement of shares for loss coverage. The complete proposal for resolution of the reduction of the share capital is set forth in the notice to attend the Meeting. In connection herewith, the Meeting further resolved to amend the provision in § 4 of the Articles of Association regarding the limits of the share capital so that the share capital shall be not less than SEK 150,000,000 and not exceed SEK 600,000,000. The resolutions are conditioned upon the Company and the Company's lenders entering into the necessary agreements.

Resolution on a reverse share split

The Meeting resolved on a reversed split of the Company's shares 1:100, implying that 100 shares will be exchanged into one share. In connection herewith, the Meeting further resolved to authorise the Board of Directors to resolve on a new issue of shares in such an amount that is necessary to create an even number of shares after the reverse share split has been conducted and to amend the provision in § 5 of the Articles of Association regarding the limits for the number of shares so that the number of shares shall be no less than 30,000,000 shares and no more than 120,000,000 shares.

The complete proposals for resolutions on the reverse share split, the authorisation to issue new shares and the amendment of the Articles of Association are set forth in the notice to attend the Meeting. The resolutions are conditioned upon the Company and the Company's lenders entering into the necessary agreements.

Resolution to amend the Articles of Association

The General Meeting resolved to amend the provision in § 2 of the Articles of Association regarding the Company's registered office so that the registered office is the municipality of Stockholm (Sw. Stockholms kommun).

For further information, please contact:
Lennart Schönning, Chairman, +46 (0)8-5051 6500
Eva Kaijser, CEO, +46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 30 June 2015 at 2.45 p.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Communiqué from Nordic Mines' Annual General Meeting 2015

2015-06-25 Nordic Mines holds start of production at Laiva mine and withdraws proposed share issue

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. This is not a legal document.

PRESS RELEASE 25 June 2015

As previously communicated, Nordic Mines AB (publ) (Nordic Mines or the Company) has been working to secure an optimal financing solution to restart operations at the Laiva mine at a point in time when external factors in particular, such as the price of gold and the exchange rate, create conditions for profitable mining.

SRK Consulting UK Ltd (SRK), as communicated previously, collaborated with Nordic Mines during the winter of 2014 and 2015 to develop a business plan for the restart of the operations at the Laiva mine. The business plan is based on the mineral reserve as of 1 January 2015, as calculated by SRK, totalling 9.4 million tonnes with a head grade of 1.2 g/t. In conjunction with preparations to restart its mining operations, Nordic Mines prepared a detailed mining plan for the first 18 weeks on the basis of additional drill hole data. Negative deviations in the detailed mining plan resulted in further review of the mineral reserve in its entirety. The determination has now been made that a higher gold price than what was used in previous assumptions is required to ensure sufficient profitability for the restart of the Laiva mine. The review of the mineral reserve also indicates that a small drilling programme is recommended to optimise the planning for the mining. The Board of Directors has therefore decided to hold off on the start of production at the Laiva mine.

The Company is also continuing to work on the preparation of a financing solution which given the right conditions would make it possible to restart operations at the Laiva mine with sufficient profitability. Such a solution could consist of, individually or in combination, the pre-sale of gold production and gold deliveries, the renegotiation of supplier terms, other types of bridge financing for working capital, share issues or collaborations with strategic or financial partners. The Company is therefore holding discussions with its lenders. If Nordic Mines is in significant breach of its project financing agreement, the bank consortium is entitled to apply for a default of the Finnish composition plan.

In the notice to attend the Company's AGM in Uppsala on 30 June 2015, which has already been published, the Board attempted to create some room for negotiation in its continued work to secure an optimal financing solution for the Company. The notice therefore included a proposal for a resolution on a rights issue and a directed share issue (and related actions, such as changes to the Articles of Association and a decrease in the share capital). Since the Board has now decided to hold off on the start of production at the Laiva mine, the Company currently will not seek additional capital from its shareholders or external investors via the share issues proposed in the notice to attend the AGM. The Board has therefore decided to withdraw the matter under point 15 of the proposed agenda (i.e. the share issue proposals and related actions).

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 25 June 2015 at 8:00 a.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nordic Mines holds start of production at Laiva mine

2015-05-29 Notice of Annual General Meeting 2015 (Swedish only)

PRESSMEDDELANDE 29 maj 2015

 

 

Aktieägarna i Nordic Mines AB (publ), 556679-1215 ("Bolaget"), kallas härmed till årsstämma tisdagen den 30 juni 2015 klockan 10.00 på Drabanten, Bangårdsgatan 13, i Uppsala.

A.     Anmälan m.m.

Aktieägare som önskar delta vid stämman ska:

  1. dels vara införd i den av Euroclear Sweden AB förda aktieboken senast onsdagen den 24 juni 2015;
     
  2. dels senast klockan 15.00 onsdagen den 24 juni 2015 anmäla sig till Bolaget antingen per post: Nordic Mines AB (publ), Mäster Samuelsgatan 60, 8tr., 111 21 Stockholm, per telefon: 08-505 165 00 eller per e-post: info@nordicmines.se.

I anmälan ska uppges fullständigt namn, person- eller organisationsnummer, aktieinnehav, adress, telefonnummer dagtid och, i förekommande fall, uppgift om ställföreträdare, ombud eller biträden (högst två). Anmälan ska i förekommande fall åtföljas av fullmakter, registreringsbevis och andra behörighetshandlingar.

B.     Förvaltarregistrerade aktier

Aktieägare som låtit förvaltarregistrera sina aktier måste, för att äga rätt att delta vid stämman, dessutom tillfälligt låta inregistrera sina aktier i eget namn i den av Euroclear Sweden AB förda aktieboken. Sådan omregistrering måste vara verkställd senast onsdagen den 24 juni 2015, vilket innebär att aktieägaren i god tid före detta datum måste begära omregistrering hos förvaltaren.

C.     Ombud m.m.

Aktieägare som avser att närvara genom ombud ska utfärda skriftlig, av aktieägaren underskriven och daterad fullmakt för ombudet. Om fullmakten utfärdas av juridisk person ska bestyrkt kopia av registreringsbevis eller motsvarande för den juridiska personen bifogas fullmakten. Fullmakten är giltig högst ett år från utfärdandet, eller under den längre giltighetstid som anges i fullmakten, dock längst fem år från utfärdandet. Fullmakt i original samt eventuellt registreringsbevis bör i god tid före stämman insändas till Bolaget på ovan angiven postadress. Bolaget tillhandahåller fullmaktsformulär på begäran och detta finns också tillgängligt på Bolagets webbplats, www.nordicmines.se.

D.     Förslag till dagordning

  1. Stämmans öppnande
  2. Val av ordförande på stämman
  3. Upprättande och godkännande av röstlängd
  4. Val av en eller två justeringsmän att jämte ordföranden justera protokollet
  5. Prövning av om stämman blivit behörigen sammankallad
  6. Dagordningens godkännande
  7. Framläggande av årsredovisning och koncernredovisning samt revisionsberättelse och koncernrevisionsberättelse för räkenskapsåret 2014
  8. Beslut om:

a)      fastställelse av resultaträkning och balansräkning samt koncern-resultaträkning och koncernbalansräkning för räkenskapsåret 2014;

  1. dispositioner beträffande Bolagets förlust enligt den fastställda balansräkningen; och
  2. ansvarsfrihet åt styrelseledamöterna och verkställande direktören för den tid redovisningen omfattar
  3. Beslut om antalet styrelseledamöter som ska väljas av stämman samt antal revisorer och revisorssuppleanter
  4. Fastställande av arvoden åt styrelseledamöter och revisor
  5. Val av styrelseledamöter, styrelseordförande, vice styrelseordförande och revisor
  6. Beslut om valberedning
  7. Beslut om riktlinjer till ledande befattningshavare
  8. Beslut om:
  9. ändring av bolagsordningen; och
  10. minskning av aktiekapital utan indragning av aktier för täckning av förlust
  11. Beslut om:
  12. ändring av bolagsordningen;
  13. minskning av aktiekapital utan indragning av aktier för avsättning till fritt eget kapital;
  14. ändring av bolagsordningen;
  15. nyemission med företrädesrätt för aktieägarna;
  16. riktad nyemission;
  17. ändring av bolagsordningen; och
  18. fondemission utan utgivande av nya aktier
  19. Beslut om:
  20. ändring av bolagsordningen;
  21. bemyndigande för styrelsen att besluta om nyemission; och
  22. sammanläggning (omvänd split) av aktier
  23. Beslut om ändring av bolagsordningen
  24. Stämmans avslutande

E.     Valberedning

Valberedningen inför årsstämman har bestått av Tord Cederlund (ordförande), Catharina Lagerstam, Manfred Lindvall och Lennart Schönning.

F.      Förslag till beslut

Punkt 2 Val av ordförande vid stämman

Som ordförande vid stämman föreslås Torbjörn Koivisto.

Punkt 8 b); Beslut om dispositioner beträffande Bolagets förlust enligt den fastställda balansräkningen

Styrelsen föreslår att ingen utdelning lämnas för 2014 samt att den ansamlade förlusten disponeras så att i ny räkning överförs 147 245 000 kronor.

Punkt 9; Beslut om antalet styrelseledamöter som ska väljas av stämman

Valberedningen föreslår att antalet styrelseledamöter som ska utses av stämman ska vara fem utan suppleanter. Antalet revisorer och revisorssuppleanter ska vara en revisor utan suppleanter.

Punkt 10; Fastställande av arvoden åt styrelseledamöter och revisor

Valberedningen föreslår att det sammanlagda styrelsearvodet för tiden intill nästa årsstämma, beräknat på årsbasis och inklusive kommittéarbete, ska uppgå till 1 150 000 kronor, fördelat enligt följande:

  1. 300 000 kronor till styrelsens ordförande;
  2. 250 000 kronor till styrelsens vice ordförande; och
  3. 200 000 kronor till var och en av övriga styrelseledamöter.

Valberedningen föreslår att arvode till revisor ska utgå enligt godkänd räkning.

Valberedningen föreslår vidare att styrelsearvode, efter särskild överenskommelse mellan styrelseledamot och Nordic Mines AB (publ) och förutsatt att det är kostnadsneutralt för Nordic Mines AB (publ) samt att styrelseledamoten uppfyller de formella krav som ställs för sådan fakturering, faktureras genom ett av styrelseledamot helägt svenskt bolag. Om sådan fakturering sker ska arvodet kunna ökas med ett belopp motsvarande Nordic Mines AB (publ):s besparing.

Punkt 11; Val av styrelseledamöter, styrelseordförande, vice styrelseordförande och revisor

Valberedningen föreslår, för tiden fram till slutet av nästa årsstämma, omval av Lennart Schönning och Krister Söderholm samt nyval av Ulla-Britt Fräjdin-Hellqvist, Tord Cederlund och Manfred Lindvall. Som styrelseordförande föreslås omval av Lennart Schönning och som vice styrelseordförande föreslås val av Ulla-Britt Fräjdin-Hellqvist.

Valberedningen föreslår, för tiden fram till slutet av nästa årsstämma, omval av det auktoriserade revisionsbolaget Öhrlings PricewaterhouseCoopers AB som Bolagets revisor. Öhrlings PricewaterhouseCoopers AB har meddelat att för det fall de väljs till Bolagets revisor kommer den auktoriserade revisorn Martin Johansson att utses som huvudansvarig revisor.

De nya personer som valberedningen föreslagit för val till styrelsen presenteras nedan. En presentation av samtliga personer som valberedningen föreslagit för val till styrelsen finns på Bolagets webbplats.

Tord Cederlund (f. 1941)

En av grundarna till Nordic Mines och tidigare styrelseledamot under åren 2007-2012.
Utbildning: Civilekonom och tidigare auktoriserad revisor.
Övriga uppdrag: VD och styrelseledamot i Arctic Gold sedan maj 2012.
Tidigare uppdrag: Tord Cederlund var grundare till ett av de första privata finansbolagen Cederlund & Grandin AB och har medverkat till ett stort antal företagsbildningar i Sverige och utomlands. Tord Cederlund var under många år bosatt i Bryssel och var där bl.a. ledamot i gruvbranschens lobbyorganisation Euromines Gold Group. Han har bred erfarenhet av styrelsearbete i Europa såväl som i gruvbranschen i Sverige och Finland. Tord Cederlund medverkade redan 1996 till uppstarten av Endomines och år 2005 till uppstarten av Nordic Mines.
Oberoende: Oberoende i förhållande till såväl Bolaget och bolagsledningen som Bolagets större aktieägare.
Antal aktier i Bolaget: 22 884 415 (varav 22 517 748 aktier ägs genom bolag).

Ulla-Britt Fräjdin-Hellqvist (f. 1954)

Utbildning: Civilingenjör Teknisk Fysik Chalmers Tekniska Högskola.
Övriga uppdrag: Styrelseordförande Kongsberg Autmotive ASA och Vindora Holding AB, styrelseledamot ANNA+Cie, DataRespons ASA, e-man AB, HRM Affärsutveckling AB och Mycronic AB samt verksam i egna familjebolag där hon framförallt fokuserar sitt engagemang på frågor som rör industri, miljö, forskning och samhällsutveckling.
Tidigare uppdrag: Ledande befattningar i Volvo Cars, bl.a. som miljöchef, chef för Volvo Cars design- och konceptcenter i Kalifornien och vice president för Kvalitet. Hon har också arbete som utvecklingschef på Svenskt Näringsliv med ansvar för ett flertal näringspolitiska områden, inkluderande bl.a. miljö, energi, hållbar utveckling, transporter, IT, arbetsmarknad, diskriminering, utbildning och forskning. Styrelseordförande och ledamot i noterade, privata och statliga bolag och stiftelser samt i ideella organisationer.
Oberoende: Oberoende i förhållande till såväl Bolaget och bolagsledningen som Bolagets större aktieägare.
Antal aktier i Bolaget: 0

Manfred Lindvall (f. 1952)

Utbildning: Bergsingenjör och Teknologie Licentiat vid Luleå Tekniska Universitet
Övriga uppdrag: -
Tidigare uppdrag: Befattningar som Direktör - Miljö, Arbetsmiljö och Företagshälsovård, Teknik, Prospektering i Boliden, Lundin Mining och Northland Resources
Oberoende: Oberoende i förhållande till såväl Bolaget och bolagsledningen som Bolagets större aktieägare.
Antal aktier i Bolaget: 0

Punkt 12; Beslut om valberedning

Valberedningen föreslår följande vad gäller valberedning inför nästa årsstämma.

Valbredningen ska inför årsstämman 2016 arbeta fram förslag till beslut vad avser ordförande vid stämman, antal styrelseledamöter som ska väljas av stämman, val av ordförande och övriga ledamöter i styrelsen samt av revisor, arvode till styrelsen och revisorn, eventuell ersättning för utskottsarbete samt principer för utseende av valberedning.

Valberedningen ska bestå av fyra ledamöter vilka ska utses enligt följande. Envar av Bolagets två största aktieägare per den 30 september 2015, ska äga rätt att utse en representant var, varav högst en får vara en styrelseledamot som är beroende i förhållande till Bolagets större aktieägare. Om båda nämnda ägare önskar utse en representant som är styrelseledamot och beroende i förhållande till Bolagets större aktieägare ska ägaren med störst innehav ges företräde. Om någon av de två största aktieägarna skulle avstå från sin rätt att utse en representant i valberedningen enligt ovan, ska rätten övergå till den aktieägare som, efter dessa aktieägare, har det största aktieägande i Bolaget. När ovan nämnda representanter har utsetts ska dessa tillsammans utse ytterligare två personer att ingå i valberedningen, varav minst en ska representera de mindre aktieägarna. Nämnda personer ska utses med beaktande av att en majoritet av valberedningens ledamöter inte ska utgöras av personer som även är ledamöter i Bolagets styrelse. Om valberedningen inte kan enas om annat ska den ledamot som representerar den största aktieägaren vara ordförande i valberedningen, förutsatt att denne inte är ordförande eller annan ledamot även i Bolagets styrelse, varvid istället representanten för nästkommande ägare i storleksordning, som inte är ordförande eller annan ledamot i Bolagets styrelse, ska vara ordförande. 

Valberedningens sammansättning ska offentliggöras så snart den utsetts och senast sex månader före årsstämman 2016. Om ledamot representerar viss ägare ska ägarens namn anges. Har de relevanta ägarförhållandena ändrats per utgången av det fjärde kvartalet 2015, ska valberedningens sammansättning, om möjligt och om så anses erforderligt av den sittande valberedningen, anpassas till de nya ägarförhållandena. Valberedningen kvarstår till dess ny valberedning utsetts. Lämnar ledamot valberedningen innan dess arbete är slutfört ska, om så bedöms erforderligt av den sittande valberedningen, ersättare utses av samma aktieägare som utsett den avgående ledamoten eller, om denna aktieägare inte längre tillhör de två största aktieägarna, av den nya aktieägare som tillhör denna grupp.

Till ledamot i valberedningen som inte uppbär annat arvode från Bolaget ska utgå ett arvode som uppgår till 25 000 kronor för valberedningens ordförande och till 15 000 kronor för envar övriga ledamöter. Eventuella omkostnader som uppstår i nomineringsprocessen ska bäras av Bolaget.

Punkt 13 Beslut om riktlinjer för ledande befattningshavare

Styrelsen har utarbetat förslag till riktlinjer för bestämmande av ersättnings- och andra anställningsvillkor för ledande befattningshavare. Dessa utgörs av VD och andra ledande befattningshavare i Bolaget och dess dotterbolag. Styrelsen föreslår att stämman fastställer följande riktlinjer för bestämmande av ersättning och övriga anställningsvillkor till ledande befattningshavare i Bolaget.
Principerna gäller för anställningsavtal som ingås efter stämmans beslut samt för det fall ändringar görs i existerande villkor efter denna tidpunkt. Styrelsens förslag baseras på att Bolagets ersättningsnivå och ersättningsstruktur för ledande befattningshavare ska vara marknadsmässig.

Fast lön
Den fasta lönen ska vara individuell och baserad på varje individs ansvar och roll såväl som individens kompetens och erfarenhet i relevant befattning.

Rörlig lön
Den rörliga lönen för ledande befattningshavare inom Bolaget ska vara strukturerad som en variabel komponent av det totala kontanta ersättningspaketet och kriterierna för den rörliga lönen ska vara relaterade till uppfyllandet av uppställda mål. Syftet med de rörliga ersättningarna är att främja Bolagets långsiktiga värdeskapande. Kriterierna för denna rörliga kompensation ska revideras årligen av styrelsen för att säkerställa att målen står i linje med gällande affärsstrategier. Den andel av den totala ersättningen som utgörs av rörlig lön varierar beroende på befattning och ska kunna utgöra högst 50 procent av den fasta lönen vid full måluppfyllelse och vara kontant baserad. Planen ska också innehålla en lägsta prestationsnivå i förhållande till mål, under vilken ingen bonus erhålles. Mot bakgrund av att kriterierna för den rörliga ersättningen är tydliga, transparenta och målbaserade samt att kriterierna revideras årligen bedömer styrelsen att det inte finns anledning att införa några särskilda förbehåll som villkorar utbetalning av viss del av sådan ersättning av att de prestationer på vilka intjänandet grundats visar sig vara hållbara över tid, eller som ger Bolaget möjlighet att återkräva sådana ersättningar som utbetalats på grundval av uppgifter som senare visat sig vara uppenbart felaktiga.

Övriga förmåner
Övriga förmåner, såsom företagsbil, ersättning för sjukvårdsförsäkring etc., ska vara av begränsat värde i förhållande till övrig kompensation och överensstämma med vad som marknadsmässigt är brukligt. Utöver detta kan deltagande i långsiktiga incitamentsprogram, t.ex. bestående av teckningsoptioner, eller andel i personalfond eller vinstandelsstiftelse, erbjudas som ett komplement, i förekommande och tillämpliga fall baserat på beslut och riktlinjer av bolagsstämma.

Pension
VD och övriga ledande befattningshavare har rätt till pensionsförmåner på marknadsmässiga villkor, varvid pensionsgrundande lön utgörs av fast lön. Pensionsavsättningar får göras med upp till 35 procent av fast månadslön och, när det gäller VD, avgångsvederlag.

Uppsägningstid och avgångsvederlag
För VD och övriga ledande befattningshavare ska gälla en uppsägningstid om upp till sex månader vid uppsägning från befattningshavarens sida och upp till tolv månader vid uppsägning från Bolagets sida. Bolagets CFO är anlitad som konsult och omfattas därmed inte av uppsägningstiden angiven i föregående mening. Vid uppsägning kan ledande befattningshavare ha rätt till ett avgångsvederlag motsvarande upp till tolv månadslöner. Anställningsvillkoren i övrigt ska vara marknadsmässiga.

Ersättningsutskott
Ett inom styrelsen utsett ersättningsutskott ska bereda frågor om lön och övriga anställningsvillkor för VD och ledande befattningshavare samt förelägga styrelsen förslag till beslut i sådana frågor.

Avvikelse i enskilt fall
Styrelsen ska ha rätt att frångå dessa riktlinjer om det i ett enskilt fall finns särskilda skäl för det. Om sådan avvikelse sker ska information om detta och skälet till avvikelsen redovisas vid närmast följande årsstämma. Samtliga tidigare beslutade, men ännu inte utbetalda ersättningar till ledande befattningshavare överensstämmer med de ovan föreslagna riktlinjerna.

Punkt 14 Minskning av aktiekapitalet för förlusttäckning

Åtgärderna under denna punkt 14 ska anses som ett förslag och ska därför antas som en helhet av stämman genom ett beslut. Åtgärderna är vidare villkorade av att Bolaget och Bolagets långivare träffar de erforderliga överenskommelser, på sådana enligt styrelsens rimliga bedömning skäliga villkor, som krävs för att kunna genomföra respektive åtgärd på ett för Bolagets aktieägare fördelaktigt sätt.

Punkt 14 a) Beslut om ändring av bolagsordningen

För att möjliggöra den av styrelsen föreslagna minskningen av Bolagets aktiekapital enligt punkt 14 b) nedan, föreslår styrelsen att stämman beslutar om att bestämmelsen i § 4 i bolagsordningen gällande gränserna för aktiekapitalet ändras så att aktiekapitalet ska utgöra lägst 150 000 000 kronor respektive inte överstiga 600 000 000 kronor.

Punkt 14 b) Beslut om minskning av aktiekapitalet utan indragning av aktier för täckning av förlust

Styrelsen föreslår att stämman beslutar om minskning av Bolagets aktiekapital med 147 245 000 kronor, att genomföras utan indragning av aktier, för täckning av förlust.

Beslutet om minskning av aktiekapitalet enligt denna punkt 14 b) förutsätter ändring av bolagsordningen enligt punkt 14 a) ovan.
Efter aktiekapitalminskningen enligt denna punkt 14 b) kommer Bolagets aktiekapital att uppgå till 244 590 214,440 kronor fördelat på sammanlagt 5 403 043 196 aktier, envar aktie med ett kvotvärde om cirka 0,0453 kronor.

Beslut om kapitalanskaffning och därmed tillhörande beslut (punkt 15)

Information med anledning av styrelsens förslag enligt denna punkt 15

Genom pressmeddelande publicerat fredagen den 29 maj 2015 har styrelsen offentliggjort att Bolagets mål är att återuppta Laivagruvan i drift vid en tidpunkt där externa faktorer, i form av bland annat guldpris och valutakurser, ger förutsättning för en lönsam gruvdrift. Vidare framgick att Bolaget arbetar för att finna en finansieringslösning vilken kan bestå enskilt eller i en kombination av exempelvis förförsäljning av guldproduktion och guldleveranser, omförhandling av leverantörsvillkor, andra sorters bryggfinansiering av rörelsekapital, nyemission eller samarbeten med strategiska eller finansiella partners.

I syfte att skapa handlingsutrymme i styrelsens fortsatta arbete med att få fram en optimal finansieringslösning föreslår styrelsen att stämman beslutar om dels en nyemission med företrädesrätt för aktieägarna, dels en riktad nyemission till på förhand vidtalade långsiktiga investerare.

Styrelsen föreslås bemyndigas att fastställa de slutliga emissionsvillkoren vid en senare tidpunkt. Vidare kommer styrelsen att fastställa och offentliggöra slutliga förslag avseende några av de erforderliga bolagsordningsändringarna vid en tidpunkt som ligger i nära anslutning till årsstämman.

Nyemissionerna förutsätter att stämman även beslutar om minskningar av aktiekapitalet, justeringar av Bolagets bolagsordning (avseende gränserna för aktiekapitalet och antal aktier) samt fondemission i enlighet med vad som framgår av punkt 14 ovan samt av denna punkt 15.

Åtgärderna under denna punkt 15 är villkorade av att Bolaget och Bolagets långivare träffar de erforderliga överenskommelser, på sådana enligt styrelsens rimliga bedömning skäliga villkor, som krävs för att kunna genomföra respektive åtgärd på ett för Bolagets aktieägare fördelaktigt sätt. Åtgärderna är vidare villkorade av att den föreslagna företrädesemissionen (punkt 15 d)) och/eller den föreslagna riktade nyemissionen (punkt 15 e)) genomförs.

Styrelsen förbehåller sig vidare rätten att återkalla ett eller flera av de beslutade och/eller föreslagna åtgärderna enligt denna punkt 15 om det skulle visa sig, enligt styrelsens bedömning, att en eller flera av dessa åtgärder inte är erforderliga. Sådant eventuellt återkallande avses att meddelas vid en tidpunkt som ligger i nära anslutning till årsstämman.

Punkt 15 a) Beslut om ändring av bolagsordningen

För att möjliggöra den av styrelsen föreslagna minskningen av Bolagets aktiekapital enligt punkt 15 b) nedan, föreslår styrelsen att stämman beslutar om att bestämmelsen i § 4 i bolagsordningen gällande gränserna för aktiekapitalet ändras så att aktiekapitalet ska utgöra lägst 20 000 000 kronor respektive inte överstiga 80 000 000 kronor.

Punkt 15 b) Beslut om minskning av aktiekapital utan indragning av aktier för avsättning till fritt eget kapital

För att underlätta styrelsens förslag om nyemissioner enligt punkterna 15 d) och e) nedan, föreslår styrelsen att stämman beslutar om minskning av Bolagets aktiekapital med 217 574 998,460 kronor, att genomföras utan indragning av aktier, för avsättning till fritt eget kapital att användas enligt beslut av stämman.

Beslutet om minskning av aktiekapitalet enligt denna punkt 15 b) förutsätter ändring av bolagsordningen enligt punkt 15 a) ovan.

Efter aktiekapitalminskningen enligt denna punkt 15 b) kommer Bolagets aktiekapital att uppgå till 27 015 215,980 kronor fördelat på sammanlagt 5 403 043 196 aktier, envar aktie med ett kvotvärde om 0,005 kronor.

Punkt 15 c) Beslut om ändring av bolagsordningen

För att möjliggöra de av styrelsen föreslagna nyemissionerna i punkterna 15 d) och e) nedan, föreslår styrelsen att stämman beslutar om att bestämmelserna i §§ 4 och 5 i Bolagets bolagsordning gällande gränserna för aktiekapitalet respektive antal aktier ändras i erforderlig utsträckning.

Därvid ska de av styrelsen föreslagna nya gränserna för (i) aktiekapitalet inte kunna understiga 30 000 000 kronor respektive överstiga 360 000 000 kronor och (ii) antalet aktier inte kunna understiga 5 000 000 000 aktier respektive överstiga 60 000 000 000 aktier, varvid minimikapitalet inte får vara mindre än en fjärdedel av maximikapitalet och det lägsta antalet aktier inte får vara färre än en fjärdedel av det högsta antalet aktier.

Det fullständiga förslaget till beslut om bolagsordningsändring kommer att fastställas och offentliggöras av styrelsen i nära anslutning till årsstämman.

Punkt 15 d) Beslut om nyemission med företrädesrätt för aktieägarna

Styrelsen föreslår att stämman beslutar om nyemission med företrädesrätt för aktieägarna, på i huvudsak följande villkor.

Samtliga aktieägare i Bolaget ska ha företrädesrätt att teckna de nya aktierna i förhållande till det antal aktier de äger. Avstämningsdag för fastställande av vilka aktieägare som ska ha rätt att teckna aktier med företrädesrätt (det vill säga att erhålla teckningsrätter) ska vara den 7 juli 2015.

Teckning av nya aktier med stöd av teckningsrätter ska ske genom kontant betalning eller teckning på särskild teckningslista under tiden från och med den 9 juli 2015, eller sådant senare datum som infaller tre bankdagar efter att emissionsprospektet har godkänts och registrerats av Finansinspektionen, och under en period om två veckor därefter eller sådan längre period som styrelsen beslutar. Anmälan om teckning av aktier utan stöd av teckningsrätter ska ske under samma tid. Teckning av nya aktier enligt eventuella åtagande om så kallad underwriting eller teckningsgaranti ska dock kunna ske senast fjärde bankdagen efter teckningstidens utgång. Teckning ska i sådana fall ske på särskild teckningslista. Betalning för aktier som tecknas utan stöd av teckningsrätter ska erläggas kontant i enlighet med instruktioner på avräkningsnota, dock senast tredje bankdagen efter utfärdandet av avräkningsnotan. De nya aktierna ska medföra rätt till utdelning första gången på den avstämningsdag för utdelning som inträffar närmast efter det att aktierna registrerats hos Bolagsverket. Eventuell överkurs ska avsättas till överkursfonden.

Styrelsen (eller den som styrelsen utser inom sig) ska bemyndigas att, senast den dag som infaller fem vardagar före avstämningsdagen, fastställa det belopp med vilket Bolagets aktiekapital ska ökas, det antal aktier som ska ges ut och vilket belopp som ska betalas för varje ny aktie.

Beslutet om nyemission av aktier enligt denna punkt 15 d) förutsätter ändring av bolagsordningen enligt punkt 15 c) ovan.

Företrädesemissionen är utöver villkoret angivet ovan avseende att Bolaget och Bolagets långivare träffar, på enligt styrelsens rimliga bedömning skäliga villkor, erforderliga överenskommelser även villkorad av att en tillräcklig anslutningsgrad i företrädesemissionen enligt styrelsens rimliga bedömning kan uppnås för att kunna genomföra den föreslagna kapitalanskaffningen. Företrädesemissionen enligt denna punkt 15 d) kan sålunda helt eller delvis återkallas.

Punkt 15 e) Beslut om riktad nyemission

Styrelsen föreslår att stämman beslutar om nyemission riktad till en eller flera på förhand vidtalade investerare som bedöms som långsiktiga, på i huvudsak följande villkor.

Teckning av nya aktier ska ske genom kontant betalning eller teckning på särskild teckningslista under tiden från och med den 9 juli 2015, eller sådant senare datum som infaller tre bankdagar efter att emissionsprospektet har godkänts och registrerats av Finansinspektionen, och under en period om två veckor därefter eller sådan längre period som styrelsen beslutar. De nya aktierna ska medföra rätt till utdelning första gången på den avstämningsdag för utdelning som inträffar närmast efter det att aktierna registrerats hos Bolagsverket. Eventuell överkurs ska avsättas till överkursfonden.

Styrelsen (eller den som styrelsen utser inom sig) ska bemyndigas att innan teckningstiden börjar fastställa det belopp med vilket Bolagets aktiekapital ska ökas, det antal aktier som ska ges ut och vilket belopp som ska betalas för varje ny aktie.

Skälet till avvikelsen från aktieägarnas företrädesrätt är att styrelsen, efter sonderingar med befintliga aktieägare och potentiella nya investerare, bedömt att anskaffning av nytt kapital kraftigt underlättas om kapitalanskaffning sker genom en riktad nyemission. Med hänsyn härtill har en riktad nyemission ansetts vara till fördel för Bolaget och dess aktieägare.

Beslutet om nyemission av aktier enligt denna punkt 15 e) förutsätter ändring av bolagsordningen enligt punkt 15 c) ovan.

Punkt 15 f) Beslut om ändring av bolagsordningen

För att möjliggöra den fondemission som föreslås godkännas i punkt 15 g) nedan, föreslår styrelsen att stämman beslutar om att bestämmelserna i 4 § i bolagsordningen gällande gränserna för aktiekapitalet ändras så att aktiekapitalet ska utgöra lägst 200 000 000 kronor respektive överstiga 800 000 000 kronor.

Punkt 15 g) Beslut om fondemission utan utgivande av nya aktier

För att undvika att behöva Bolagsverkets eller allmän domstols tillstånd för att verkställa den av styrelsen under punkt 15 d) ovan föreslagna minskningen av Bolagets aktiekapital, föreslår styrelsen att stämman beslutar om att öka Bolagets aktiekapital genom att 217 574 998,460 kronor överförs från Bolagets fria egna kapital. Fondemissionen ska ske utan utgivande av nya aktier.

Beslutet om fondemission enligt denna punkt 15 g) förutsätter ändring av bolagsordningen enligt punkt 15 f) ovan.

Beslut om sammanläggning av aktier (omvänd split) (punkt 16)

Styrelsen föreslår i syfte att uppnå ett ändamålsenligt antal aktier och kvotvärde i Bolaget att en sammanläggning av Bolagets aktier genomförs på de villkor som framgår nedan.

Åtgärderna under denna punkt 16 ska anses som ett förslag och ska därför (med förbehåll för att vissa ärenden kan komma att återkallas) antas som en helhet av stämman genom ett beslut. Åtgärderna är vidare villkorade av att Bolaget och Bolagets långivare träffar de erforderliga överenskommelser, på sådana enligt styrelsens rimliga bedömning skäliga villkor, som krävs för att kunna genomföra respektive åtgärd på ett för Bolagets aktieägare fördelaktigt sätt.

Punkt 16 a) Beslut om ändring av bolagsordningen

För att möjliggöra den av styrelsen föreslagna sammanläggningen av aktier enligt punkten 16 b) nedan, föreslår styrelsen att stämman beslutar om att bestämmelsen i § 5 i bolagsordningen gällande antalet aktier ändras i erforderlig utsträckning.

Därvid ska de av styrelsen föreslagna nya gränserna för antalet aktier inte kunna understiga 30 000 000 aktier respektive överstiga 600 000 000 aktier, varvid det lägsta antalet aktier inte får vara färre än en fjärdedel av det högsta antalet aktier.

Det fullständiga förslaget till beslut om bolagsordningsändring kommer att fastställas och offentliggöras av styrelsen i nära anslutning till årsstämman.

Punkt 16 b) Beslut om bemyndigande för styrelsen att besluta om nyemission

Styrelsen föreslår att stämman bemyndigar styrelsen att, vid ett tillfälle under tiden fram till nästa årsstämma, med avvikelse från befintliga aktieägares företrädesrätt, besluta om nyemission av ett sådant antal aktier som krävs för att åstadkomma ett jämnt antal aktier efter genomförande av sammanläggningen av aktier i enlighet med förslaget i denna punkt 16 (dock alltid inom vid var tid gällande bolagsordning). Aktierna ska av administrativa skäl endast kunna tecknas av Evli Bank.

Punkt 16 c) Beslut om sammanläggning (omvänd split) av aktier

Styrelsen föreslår att bolagsstämman beslutar om sammanläggning av Bolagets aktier 1:100, innebärande att 100 aktier läggs samman till en aktie. Styrelsen (eller den som styrelsen utser inom sig) ska bemyndigas att bestämma avstämningsdag för sammanläggningen, vilken dock inte får infalla före den tidpunkt då beslutet om sammanläggningen registrerats hos Bolagsverket. Styrelsen avser att bestämma avstämningsdagen till ett datum som infaller efter att de åtgärder som föreslås under punkt 15 ovan har registrerats hos Bolagsverket.

För de aktieägare som på avstämningsdagen för sammanläggningen inte innehar ett antal aktier som motsvarar ett helt antal nya aktier (efter genomförd sammanläggning), kommer överskjutande aktier att övergå i Bolagets ägo på avstämningsdagen för sammanläggningen. Överskjutande stamaktier kommer därefter att försäljas av ett av Bolaget utsett värdepappersinstitut, varvid berättigade aktieägare kommer att erhålla sin andel av försäljningslikviden.

Beslutet om om sammanläggning av Bolagets aktier enligt denna punkt 16 c) förutsätter ändring av bolagsordningen enligt punkt 16 a) ovan.

Punkt 17 Beslut om ändring av bolagsordningen

Styrelsen föreslår att stämman beslutar om att (i) att bestämmelsen i § 2 i bolagsordningen gällande styrelsens säte ändras så att styrelsen ska ha sitt säte i Stockholms kommun och (ii) att i § 8 i bolagsordningen den mening som lyder "- Bolagsstämma skall hållas i Uppsala" stryks.

G.     Övrigt, majoritetskrav

Besluten enligt punkterna 14, 15, 16 och 17 ovan fordrar bifall av aktieägare representerande minst två tredjedelar av såväl de avgivna rösterna som de vid stämman företrädda aktierna.

H.     Frågor till styrelsen och den verkställande direktören

Aktieägare har möjlighet att begära upplysningar om dels förhållanden som kan inverka på bedömningen av ett ärende på dagordningen, dels förhållanden som kan inverka på bedömningen av Bolagets ekonomiska situation. Upplysningsplikten avser även Bolagets förhållande till annat koncernföretag, koncernredovisningen och sådana förhållanden beträffande dotterföretag som avses i föregående mening. Sådan information lämnas av styrelsen eller den verkställande direktören vid stämman under förutsättning att uppgifterna kan lämnas utan väsentlig skada för Bolaget.

I.       Antal aktier och röster

Det totala antalet aktier och röster i Bolaget per dagen för kallelsen till stämman uppgår till 5 403 043 196. Bolaget innehar inte några egna aktier.

J.      Handlingar

Årsredovisningen och revisionsberättelsen, styrelsens fullständiga beslutsförslag och övriga handlingar som ska tillhandahållas inför stämman kommer senast tre veckor före stämman att hållas tillgängliga på Bolagets webbplats, www.nordicmines.se, hos Bolaget på Mäster Samuelsgatan 60, 8tr., 111 21 Stockholm och skickas kostnadsfritt till de aktieägare som så begär och uppger sin postadress. Handlingarna kommer även att finnas tillgängliga vid stämman.

* * *

För ytterligare information kontakta:
Lennart Schönning 08 5051 6500
Eva Kaijser, VD, 070 932 0901   
Jonatan Forsberg, CFO, 076 105 1310

För mer information om Nordic Mines, vänligen se; www.nordicmines.se

Ovanstående information kan vara sådan information som Nordic Mines AB (publ) ska offentliggöra enligt lagen om värdepappersmarknaden och/eller lagen om handel med finansiella instrument. Informationen publicerades klockan 08:00 den 29 maj 2015.

Nordic Mines är ett nordiskt gruv- och prospekteringsföretag. Vid Laivagruvan i Finland producerades guld under åren 2011 till och med 2014. Fyndigheten är en av de största i Norden. Nordic Mines är medlem i Svemin och tillämpar dess rapporteringsregler för publika gruv- och prospekteringsbolag. Nordic Mines aktie är upptagen till handel på Nasdaq Stockholms Small Cap-lista. Se även www.nordicmines.se.



Notice of Annual General Meeting 2015 (Swedish only)

2015-05-29 Business plan for the Laiva mine and continued efforts to secure funding

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. This is not a legal document.

PRESS RELEASE 29 May 2015

As previously communicated, Nordic Mines finalised a business plan during the beginning of the year for the restart of operations at the Laiva mine. As part of this business plan, a five-year mining plan was prepared in collaboration with SRK Consulting UK Ltd (SRK) that was based on the Company's mineral reserve as of 1 January 2015 of 9.4 million tonnes with a head grade of 1.2 grams per tonne.

It is the goal of Nordic Mines to restart operations at the Laiva mine at a point in time when external factors, for example the price of gold and foreign exchange rates, present conditions for profitable mining.

In order to restart operations at the Laiva mine today, an additional EUR 12 million would be required, of which EUR 7 million is working capital, EUR 3 million seasonal investments and SEK 2 million liquidity reserve.

The Company is now working to find a funding solution that consists of either a single measure or a combination of measures, for example the pre-sale of gold production and gold deliveries, renegotiation of supplier terms, other types of bridge financing for working capital, share issues or strategic or financial partnerships.

In today's Notice of Annual General Meeting (only available in Swedish), Nordic Mines is seeking to achieve a certain degree of flexibility in order to find an optimal funding solution. The Notice therefore includes a proposal for conditional decisions regarding share issues, rights issues and/or directed share issues (for more information please refer to point 15 in the Notice of Annual General Meeting). In the event Nordic Mines proceeds with the above-mentioned share issue proposals, the Company intends to provide information regarding conditions, volume and a more detailed transaction structure before the Nordic Mines Annual General Meeting on 30 June 2015.

The Company's business plan is still conditional on approval from the Company's current lenders. A potential funding solution will also be conditional on the current lenders' approval of the business plan.

Nordic Mines has engaged Evli Bank and PWC Corporate Finance Debt & Capital Advisory as financial advisors.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 29 May 2015 at 8:00 a.m.

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 the Nasdaq Stockholm's Small Cap list. For more information, please visit www.nordicmines.se.



Business plan and secure funding Nordic Mines

2015-05-28 The Nomination Committee of Nordic Mines presents its proposal for a new Board of Directors

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 prevail. This is not a legal document.

PRESS RELEASE 28 May 2015

The Nomination Committee of Nordic Mines AB (publ) proposes the re-election of Lennart Schönning and Krister Söderholm to the new Board of Directors. The Nomination Committee also proposes the new election of Ulla-Britt Fräjdin-Hellqvist, Tord Cederlund and Manfred Lindvall.

Background

The 2014 Annual General Meeting of Nordic Mines resolved to appoint a Nomination Committee, the tasks of which would include presenting at the 2015 Annual General Meeting a proposal regarding the election of Board members.

For the period ending with the 2015 Annual General Meeting, the Nomination Committee consists of Tord Cederlund, Catharina Lagerstam, Manfred Lindvall and Lennart Schönning. The Chairman of the Nomination Committee is Tord Cederlund.

Election of the Board of Directors, Chairman of the Board and Deputy Chairman of the Board

The Nomination Committee proposes the re-election of Lennart Schönning and Krister Söderholm. The Nomination Committee proposes the new election of Ulla-Britt Fräjdin-Hellqvist, Tord Cederlund and Manfred Lindvall. Current Board member Helve Boman has declined re-election.

Lennart Schönning is proposed for election as Chairman of the Board.

Ulla-Britt Fräjdin-Hellqvist is proposed for election as the Deputy Chairman of the Board.

In the opinion of the Nomination Committee, all of the persons proposed for election as members of the Board by the Annual General Meeting are independent of any major shareholders in the Company. All proposed members are independent of the Company and its executive management.

The proposed members of the Board have a long-standing background in the mining industry as well as considerable experience in business in general and large industrial projects and local Finnish knowledge in particular. The Nomination Committee believes that the proposed Board has the diversity and breadth in terms of its members' varying expertise, experience and background that are appropriate to the Company's activities and stage of development.

 

Information on proposed Board members

Lennart Schönning (born in 1948)
Board member and Chairman of the Board since 2009.

Education:                                MSc in Engineering.
Other assignments:                                          Self-employed via Property Dynamics AB.
Previous assignments:                                    President of Åke Larson Byggare in the USA and Managing Director of the real estate company Näckebro in Stockholm, which was previously listed on the Stockholm Stock Exchange.
Independence:                                                 Independent with regard to both the Company and executive management as well as the Company's major shareholders.
Number of shares:                  35,000,000 through Property Dynamics.

Tord Cederlund (born in 1941)

One of the founders of Nordic Mines and previous Board member during the years 2007-2012.

Education:                                                         MBA and previously an authorised public accountant.
Other assignments:                                          MD and Board Member of Arctic Gold since May 2012.
Previous assignments:                                    Tord Cederlund was the founder of one of the first private finance companies, Cederlund & Grandin AB, and has been involved in the formation of a large number of companies in Sweden and abroad. Tord Cederlund lived in Brussels for many years, during which time he served as a member of the mining industry's lobby organisation, Euromines Gold Group. He has broad experience in Board work in Europe as well as in the mining industry in Sweden and Finland. Tord Cederlund was involved as early as 1996 in the formation of Endomines and in 2005 in the formation of Nordic Mines.
Independence:                                                 Independent with regard to both the Company and executive management as well as the Company's major shareholders.
Number of shares:                  22,884,415 privately and through companies.

Ulla-Britt Fräjdin-Hellqvist (born in 1954)

Education:                                                         MSc in Engineering, Technical Physics, Chalmers University of Technology
Other assignments:                                          Chairman of the Board Kongsberg Automotive ASA and Vindora Holding AB, Board member ANNA+Cie, DataRespons ASA, e-man AB, HRM Affärsutveckling AB and Mycronic AB and active in companies owned by her family where she primarily focuses on issues related to industry, the environment, research and societal development.
Previous assignments:                                    Management positions at Volvo Cars as, for example, Environmental Manager, Manager of the Volvo Cars' design and concept centre in California and Vice President of Quality. She has also worked as the Development Manager at Svenskt Näringsliv, where she was responsible for a number of business policy areas, including the environment, energy, sustainable development, transports, IT, labour market, discrimination, education and research. Chairman of the Board and Board member of listed, private and state-owned companies and foundations as well as non-profit organisations.
Independence:                                                 Independent with regard to the Company and executive management as well as the Company's major shareholders.
Number of shares:                  -

Manfred Lindvall (born in 1952)

Education:                                                         Mining Engineer and Licentiate of Technology from Luleå University of Technology
Other assignments:                -
Previous assignments:                                    Directorships for the Environment, the Working Environment and Occupational Health, Technology, Exploration at Boliden, Lundin Mining and Northland Resources
Independence:                                                 Independent with regard to both the Company and executive management as well as the Company's major shareholders.
Number of shares:                  -

Krister Söderholm (born in 1950)
Board member since 2013 as well as 2010-2011.

Education:                                Geology at Åbo Academy.
Other assignments:                                          Board member of Artic Gold AB, Board Member of FinnMin and FRB.
Previous assignments:                                    Kevitsa Mining Oy, Outokumpu Mining Oy, Bergmästare in Finland, Viscaria AB Sverige, A/S Bidjovagge Gruber, Norway, and others.
Independence:                                                 Independent with regard to both the Company and executive management as well as the Company's major shareholders.
Number of shares:                  140,000

For further information, please contact:
Tord Cederlund, Nomination Committee, Chairman, +46 (0)8 5051 6500
Eva Kaijser, CEO,+46 (0)70 932 09 01

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 28 May 2015 at 8:00 a.m.

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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Proposal for a new Board of Directions

2015-05-26 Nordic Mines publishes its 2014 Annual Report and an update regarding funding

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 prevail. This is not a legal document.

PRESS RELEASE 26 May 2015

The 2014 Annual Report for Nordic Mines AB (publ) is now available at the Swedish company's website, www.nordicmines.com. The Annual Report is only available in Swedish.

 

Update regarding funding

During 2015, as previously communicated, Nordic Mines has evaluated several different alternatives for strengthening its liquidity in conjunction with a restart of the Laiva mine. The Company currently has made the assessment that an additional EUR 7 million in working capital is needed for the mine to be self-funding. In addition, EUR 3 million will be needed for seasonal investments and EUR 2 million for a liquidity reserve. In total, there is an additional capital need of EUR 12 million in order to restart operations at the Laiva mine in a reliable manner. Liquidity-strengthening measures can include, for example, the pre-sale of gold production and gold deliveries, renegotiation of supplier terms, other types of bridge financing for working capital, a share issue or collaborations with strategic or financial partners.

For further information, please contact:
Eva Kaijser, MD, +46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was published on 26 May 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold was produced during the years 2011 and 2014 at the Laiva mine in Finland. 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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nordic Mines Annual Report 2014 (Swedish)

2015-05-04 Nordic Mines names Eva Kaijser new CEO

PRESS RELEASE 4 May 2015

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 Board of Directors of Nordic Mines has decided to replace the current CEO and to name Eva Kaijser the new CEO of the Group. Eva has more than 17 years of experience in the mining industry, of which 11 years with the Boliden Group in various management and executive managment roles. Eva left Boliden to be the CFO of Northland Resources. Most recently Eva has been working as an independent advisor within the mining industry. Eva Kaijser will take over the role of CEO for Nordic Mines immediately.

Comments from the Chairman of the Board of Directors, Lennart Schönning

"Eva has an extensive financial and industrial background in the mining industry, in particular in complicated negotiations with lenders and banks. With Eva at the helm of Nordic Mines, we are now building a strong team to conclude the ongoing discussions with the Company's lenders. In combination with the company's ongoing efforts to further strengthening liquidity to meet the increased need for working capital during the first months of the restart of the Laiva operations we hereby solidify the foundation for restarting profitable operations at the Laiva mine," says the Chairman of the Board, Lennart Schönning, in a statement.

"I would also like to take this opportunity to thank our previous CEO, Thomas Cederborg, for his commendable contributions during his time as CEO, in particular in conjunction with the conclusion of the Company's reorganisations in Finland and Sweden in the autumn of 2014 following extensive composition plans, significant debt write-downs of existing bank loans and the raising of capital from new and old shareholders," concludes Lennart Schönning.

For further information contact:
Lennart Schönning, Chairman, +46 (0)8 5051 6500
Eva Kaijser, CEO, +46 (0)70 932 09 01

For more information about Nordic Mines, please visit our website at www.nordicmines.se.

The information in this press release has been published pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published at 8:00 a.m. on 4 May 2015.

Nordic Mines AB is a Nordic mining and exploration company. Gold production began in the Laiva mine in Finland at the end of 2011. The deposit is among the largest in the Nordic region. Nordic Mines is a member of Svemin and applies its reporting regulations for publicly owned mining and exploration companies. The Nordic Mines share is admitted for trading on the Nasdaq Stockholm Small Cap list. Also refer to www.nordicmines.se



Nordic Mines names Eva Kaijser new CEO

2015-04-30 Nordic Mines AB (publ) Interim report January - March 2015

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.

First quarter of 2015

· Net income was SEK 0.0 million (SEK 51.6 million) due to the production stop at the Laiva mine.

· Operating loss was SEK -26.3 million (SEK -36.9 million) due to the production stop at the Laiva mine.

·  Profit after tax for the period amounted to SEK -29.2 million (SEK -36.4 million), corresponding to SEK -0.01 (SEK -0.11) per share.

· Comprehensive income for the period amounted to SEK -31.0 million (SEK -37.0 million), corresponding to SEK -0.01 (SEK -0.11) per share.

· Cash and cash equivalents were SEK 57.9 million (SEK 83.2 million, 31 December 2014) at the end of the period.

· Equity was SEK 435.7 million (SEK 466.7 million, 31 December 2014) at the end of the period.

·  As Nordic Mines decided to stop production at the Laiva mine until further notice, no ore was processed during the period.

· In order to achieve the overall goal of Nordic Mines to restart operations at the Laiva mine in a manner that creates conditions for profitable mining, the Company has implemented a number of measures during the period. These measures include, among other things, that the Company, in accordance with a previously announced schedule, delivered an indicative, updated action plan and an updated financial model in January to the Company's lenders for approval. The Company's lenders subsequently invited Nordic Mines to continue discussing the action plan and the restart of operations at the Laiva mine. The Company's goal is to conclude the ongoing discussions no later than May 2015.

·  Nordic Mines progressed in its planning and evaluated a number of alternatives to strengthen the Laiva project operationally and financially. The Company also evaluated during the period partnerships for the refinement process and possible structural transactions within the Nordic gold mining industry. Even if the discussions that the Company has conducted to date have not yet produced any concrete results, Nordic Mines continues to take a positive view on a consolidation within the Nordic gold mining industry. During the period Nordic Mines also evaluated different alternatives for strengthening liquidity during the first months after the Laiva mine restarts operations, for example through the pre-sale of gold production and gold deliveries, renegotiation of supplier terms and conditions or other types of bridge financing for working capital.

· On 26 February, Nordic Mines presented an updated mineral reserve corresponding to five years of gold production. The total proven and probable mineral reserve in Laiva as of 1 January 2015 is 9,367,000 tonnes with an average grade of 1.19 grams of gold per tonne (cut-off 0.6 grams per tonne).  The gold content in the mineral reserve corresponds to around 11,200 g (360,000 troy ounces).

Comments by CEO Thomas Cederborg

"The overall goal of Nordic Mines is to restart operations at the Laiva mine in a manner that creates conditions for profitable mining. We are now in the final stages of updating and thoroughly verifying the action plan that Nordic Mines previously prepared in collaboration with the well-respected international mining consultancy company, SRK Consulting (UK). The updated action plan is based on the mineral reserve and geological model that has been updated by SRK and focuses on an improved mining method and capacity expansion in the processing plant adjacent to the mine. The updated mineral reserve for the Laiva mine corresponds to a gold content of around 11,200 kg (360,000 troy ounces) or five years of production," says CEO Thomas Cederborg in a statement.

"We also evaluated possibilities to strengthen the Laiva project through partnerships and structural transactions with other actors in the Nordic gold mining industry. Even if the discussions we have conducted to date have not produced any concrete results, Nordic Mines continues to believe that gold concentrate from several Nordic gold projects could be refined in the Nordic Mines processing plant, thereby processing the final product all the way from gold concentrate to doré bars and subsequently improving profitability. There are even clear synergies in the form of purchasing optimisation and streamlined administration. Finally, the falling price of gold, which has been the trend for the past few years, has reached a point where a number of interesting structural transactions may now occur," concludes Thomas Cederborg.

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 08.00 (CET) on April 30, 2015.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines AB Interim report January-March 2015

2015-03-26 Nordic Mines informs about the ongoing work with the updated business plan for the Laiva mine

The English version of this press release is an unofficial translation of the Swedish original. In the event of any discrepancies between the Swedish text and the English translation, the Swedish text shall take precedence. This is not a legal document.

As previously announced, Nordic Mines has delivered an indicative updated business plan and an updated financial model for the Laiva mine to the Company's lenders for approval. Nordic Mines is now discussing the re-start of the Laiva mine with the Company's lenders as well as a number of alternatives for strengthening the project structurally, operationally and financially. Nordic Mines' original goal, which was previously announced, was to present an approved updated business plan during March 2015.  Due to the ongoing discussions, the Company has now made the assessment that approval will not be granted before the end of March 2015. The Company's revised goal is therefore to conclude the ongoing discussions and through a press release present in April 2015, or at the latest May 2015, a final, updated business plan for the Laiva mine that has been approved by the Company's lenders.

With the aim of achieving the Company's overall goal of restarting operations at the Laiva mine in a manner that creates conditions for profitable mining, Nordic Mines is now moving forward in its planning with the evaluation of a number of alternatives to strengthen the Laiva project structurally, operationally and financially. The Company is evaluating various partnerships for the refinement process and possible structural transactions within the Nordic gold mining industry. Nordic Mines is also evaluating different alternatives for creating more financial flexibility once operations have been restarted, for example through the pre-sale of gold production and gold deliveries, renegotiated supplier terms or other types of bridge financing for working capital.

The updated business plan for the Laiva mine was prepared in collaboration with the well-respected international mining consulting company, SRK Consulting (UK) Limited (SRK). SRK also prepared the updated mineral reserve and the mineral resource for the Laiva mine, which the Company presented in a press release on 26 February 2015.
For more information, please contact:

Thomas Cederborg, CEO, +46 (0)70 848 0521
Jonatan Forsberg, CFO, +46 (0)76 105 1310

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 26 March 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold production began in the Laiva mine in Finland at the end of 2011. 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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nordic Mines informs regarding the updated plan for the Laiva mine

2015-03-04 Nomination Committee of Nordic Mines

PRESS RELEASE 4 March 2015

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 Annual General Meeting 2014 of Nordic Mines has resolved to establish a Nomination Committee for the Annual General Meeting 2015. The Nomination Committee comprises of Tord Cederlund and Lennart Schönning representing two of the largest shareholders that have used their rights to nominate a representative to the Nomination Committee. Representatives of the minor shareholders are Catharina Lagerstam and Manfred Lindvall.
Tord Cederlund has been elected to Chairman of the Nomination Committee.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0)70 848 0521
Jonatan Forsberg, CFO, +46 (0)76 105 1310

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 4 March 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold production began in the Laiva mine in Finland at the end of 2011. 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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nomination Committee of Nordic Mines

2015-02-26 Nordic Mines reports an updated Mineral Reserve corresponding to five years of gold production

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.

Nordic Mines is reporting an updated Mineral Reserve and Mineral Resource estimate for the Laiva mine as of 1 January 2015. The Mineral Reserve corresponds to five years of gold production.

The total Proven and Probable Mineral Reserve in Laiva as of 1 January 2015 is 9,367,000 tonnes with an average grade of 1.19 grams of gold per tonne (cut-off 0.6 grams per tonne). The gold content in the Mineral Reserve corresponds to around 11,200 kg (360,000 troy ounces).

The Mineral Reserve is based on an updated Mineral Resource (which is inclusive of those Mineral Resources modified to produce the Mineral Reserve). The total Measured and Indicated Mineral Resource in Laiva as of 1 January 2015 is 15,970,000 tonnes with an average grade of 1.52 grams of gold per tonne (cut-off 0.6 grams per tonne). The gold content of the total Measured and Indicated Mineral Resource corresponds to around 24,300 kg (780,000 troy ounces). In addition, there is an Inferred Mineral Resource of 3,220,000 tonnes with an average grade of 2.08 grams of gold per tonne (cut-off 0.6 grams per tonne). The gold content in the Inferred Mineral Resource corresponds to around 6,700 kg (215,000 troy ounces).

The updated Mineral Reserve and Mineral Resource for the Laiva mine was prepared by the independent mining consultancy company, SRK Consulting (UK) Limited (SRK). During the autumn of 2014 and the winter of 2015, SRK also worked together with Nordic Mines to update the Company's action plan for the Laiva mine. As previously communicated, an indicative updated action plan was delivered to the Company's lenders in January 2015. The Company's lenders have since then invited Nordic Mines to continue to discuss the action plan and the restart of operations at the Laiva mine. The Company's goal is to complete and present a final updated action plan by March 2015.

Comments by CEO Thomas Cederborg

"The updated Mineral Reserve shows that the Laiva project has a life-of-mine of at least five years. The presentation of the updated Mineral Reserve marks the end of an extensive project carried out by SRK and Nordic Mines," comments Nordic Mines CEO Thomas Cederborg.

Laiva Mineral Resource (1 January 2015)

Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr oz)
Measured - - - -
Indicated 15,970,000 1.52 24,300 780,000
Measured + Indicated 15,970,000 1.52 24,300 780,000
Inferred 3,220,000 2.08 6,700 215,000

The Mineral Resource is reported at a cut-off grade of 0.6 g/t.

The model for the calculation of the Mineral Resource is limited by an assumed gold price of € 1,300 per troy ounce (USD 1,510 per troy ounce).

The Mineral Resource is reported inclusive of those Mineral Resources modified to produce the Mineral Reserve.

Laiva Mineral Reserve (1 January 2015)

Category Tonnage (t) Au Grade (g/t) Gold (kg) Gold (tr.oz)
Proven - - - -
Probable 9,367,000 1.19 11,200 360,000
Proven + Probable 9,367,000 1.19 11,200 360,000

The Mineral Reserve is reported at a cut-off grade of 0.6 g/t.

The calculation of the Mineral Reserve was based on an assumed five-year gold price of € 1,020 per troy ounce (USD 1,184 per troy ounce).

Calculations of Mineral Resources and Mineral Reserves in 2015

The Mineral Resource that was reported in November 2013 was based on a geostatistical process that reported the Mineral Resource in blocks of 10x5x10 meters. The work in 2014 resulted in the Mineral Resource now being reported in smaller blocks of 4x4x5 meters.  The current Mineral Resource (cut-off 0.6 g/t) is based on the portion of the total mineralisation (41 million tonnes) that is estimated to be profitable to mine in the open-pit mine at a gold price of € 1,300 per troy ounce or USD 1,510 per troy ounce.

The calculation of the Mineral Reserve has been based on an assumed 5-year gold price of € 1,020 per troy ounce or USD 1,184 per troy ounce.

The Mineral Resource and Mineral Reserve estimates have been reported in accordance with the current JORC code ("JORC Code 2012").

The Competent Person accepting the professional responsibility for the Mineral Resource Estimate is Dr John Arthur of SRK Consulting (UK) Limited, who is a Chartered Geologist and Fellow of the Geological Society of London.
The Competent Person accepting the professional responsibility for the Mineral Reserve Estimate is Mr Allan Blair, BEng, MAusIMM (#102240) of SRK Consulting (UK) Limited.

The content of this press release has been reviewed and approved by Peter Kuiper, Head of Development for Nordic Mines and a Qualified Person (QP) registered with SveMin.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0)70 848 0521
Peter Kuiper, Head of Development, +46 (0)70 567 6444

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

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 26 February 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold production began in the Laiva mine in Finland at the end of 2011. 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 the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.



Nordic Mines reports an updated Mineral Reserve

2015-02-19 Nordic Mines AB (publ) Year-end report January - December 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.

Fourth quarter 2014

·       Net income was SEK 0.0 million (SEK 68.2 million) due to the production stop at the Laiva mine.
·       Due to the production stop, the Company reported an operating loss of SEK -38.7 million (SEK -610.5 million due to significant write-downs during the fourth quarter of 2013).
·       Profit after tax for the period amounted to SEK -46.7 million (SEK -603.3 million), corresponding to SEK -0.01 (SEK -1.77) per share.
·       Comprehensive income for the period amounted to SEK -49.6 million (SEK -621.7 million), corresponding to SEK -0.01 (SEK -1.82) per share.
·       Cash and cash equivalents were SEK 83.2 million (SEK 129.7 million, 30 September 2014) at the end of the period.
·       Equity was SEK 466.7 million (SEK 516.3 million, 30 September 2014) at the end of the period.
·       As Nordic Mines decided to stop production at the Laiva mine until further notice, no ore was processed during the period.
·       In order to achieve the overall goal of Nordic Mines to restart operations at the Laiva mine in a manner that creates conditions for profitable mining, the Company has implemented a number of measures during the period. These measures include, among other things, that the Company, in accordance with a previously disclosed schedule, delivered in January an indicative, updated action plan and an updated financial model to the Company's lenders for approval. The Company's lenders have since invited Nordic Mines to continue to discuss the action plan and the restart of operations at the Laiva Mine.
·       Nordic Mines is now progressing in its planning and evaluating a number of alternatives to strengthen the Laiva project operationally and financially. The Company is evaluating various partnerships for the refinement process and possible structural transactions within the Nordic gold mining industry. Nordic Mines is also evaluating different alternatives for creating more financial flexibility once operations are restarted, for example through the pre-sale of gold production and gold deliveries, supplier terms and conditions or other types of bridge financing for working capital.
·       During the fourth quarter of 2014, SRK Consulting (UK) Limited (SRK), an independent mining consultancy company, re-calculated the mineral resources in Laiva. As communicated previously, Nordic Mines intends to publish the updated calculation of the mineral resources in February 2015, and the goal is then in March 2015 to complete and via a press release present a final, updated action plan that the Company has prepared in collaboration with SRK.

January - December 2014

·       Net income was only SEK 62.9 million (SEK 325.3 million) due to the production stop at the Laiva mine as of the second quarter.
·       The Company reported an operating profit of SEK 305.2 million (SEK -732.4 million) due to the significant debt write-downs.
·       Profit after tax for the period amounted to SEK 125.8 million (SEK -722.5 million), corresponding to SEK 0.07 (SEK -2.22) per share.
·       Comprehensive income for the period amounted to SEK 104.9 million (SEK -625.9 million), corresponding to SEK 0.06 (SEK -1.93) per share.
·       Cash and cash equivalents were SEK 83.2 million (SEK 129.7 million, 30 September 2014) at the end of the period.
·       Equity was SEK 466.7 million (SEK 516.3 million, 30 September 2014) at the end of the period.

Comments by CEO Thomas Cederborg

"The overall goal of Nordic Mines is to restart operations at the Laiva mine in a manner that creates conditions for profitable mining. We are now in the final stages of updating and thoroughly verifying the action plan that Nordic Mines previously prepared in collaboration with the well-respected international mining consultancy company, SRK Consulting (UK). The updated action plan is based on a geological model and mineral resources that have been updated by SRK and focuses on an improved mining method and capacity expansion in the processing plant adjacent to the mine. The Company has set a goal to present via a press release the updated mineral resources before the end of February 2015 and a final, updated action plan in March 2015," says the CEO of Nordic Mines, Thomas Cederborg, in a statement.

"We are also evaluating possibilities to strengthen the Laiva project through partnerships and structural transactions with other actors in the Nordic gold mining industry. Nordic Mines believes that gold concentrate from several Nordic gold projects could be refined in the Nordic Mines processing plant, thereby processing the final product all the way from gold concentrate to doré bars and subsequently improving profitability. There are even clear synergies in the form of purchasing optimisation and streamlined administration. Finally, the falling price of gold, which has been the trend for the past few years, has reached a point where a number of interesting structural transactions may now occur," concludes Thomas Cederborg

For further information, please contact:
Thomas Cederborg, CEO, +46 708 480 521
Jonatan Forsberg, CFO, +46 761 051 310

For further information regarding Nordic Mines, please connect to www.nordicmines.com

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 08.00 (CET) on February 19, 2015.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines AB (publ) Year-end report 2014

2014-12-19 Information from Nordic Mines about the work on the Company's updated action plan

PRESS RELEASE 19 December 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.

Nordic Mines AB (publ) ("Nordic Mines" or "the Company") is continuing its work on updating and carrying out a comprehensive verification of the action plan earlier drawn up by the Company with the renowned international mining consultancy SRK Consulting (UK) Limited ("SRK"). The updated action plan, which is based on a geological model and mineral resource that have been updated by SRK, focuses on an improved working method for mining and on increased capacity in the process plant adjoining the mine.

The Company's aim is to resume operations at the Laiva mine in a way that gives opportunities for profitable mining.

In connection with the completion of the corporate reorganisations that the Company and some of its subsidiaries have been undergoing, Nordic Mines reached an agreement about significant write-downs of existing receivables and otherwise amended conditions of the project financing agreement made with the Company's lenders. These conditions are described in more detail in the Company's supplementary prospectus dated 14 August 2014.

As part of the agreement, Nordic Mines undertook to present the Company's lenders by specific dates with a start-up plan (consisting of the above-mentioned updated action plan) and an updated financial model for the Laiva mine, both of which are to be approved by the Company's lenders. In order to ensure accuracy and minimise the risk associated with the work on these items, Nordic Mines is having discussions with the Company's lenders with a view to obtaining more time for this work. An extension has been requested from 1 and 15 December 2014 respectively up to and including January 2015.

The intention of the Company is to issue a press release with details of an updated mineral resource and action plan in February 2015.

For further 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 has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. It was released for publication at 08.00 CET on 19 December 2014.

Nordic Mines is a Nordic mining and exploration company. Gold production commenced in the Laiva mine in Finland at the end of 2011. The deposits are among the largest in the Nordic countries. Nordic Mines was founded in 2005 and has just under 100 employees. Its share is traded on the Nasdaq OMX Small-Cap list in Stockholm. See also www.nordicmines.se.



Nordic Mines company update on the action plan

2014-11-07 Nordic Mines AB (publ) Interim report January-September 2014

Third quarter of 2014

·       Net income was only SEK 1.3 million (SEK 74.4 million) due to the production stop at the Laiva mine.
·       The Company recorded an operating profit of SEK 406.7 million (SEK -52.8 million) as a result of significant debt write-downs.
·       Profit after tax for the period amounted to SEK 235.9 million (SEK -47.0 million), corresponding to SEK 0.28 (SEK -0.14) per share.
·       Comprehensive income for the period amounted to SEK 224.3 million (SEK -19.4 million), corresponding to SEK 0.15 (SEK -0.06) per share.
·       Cash and cash equivalents were SEK 129.7 million (SEK 7.0 million, 30 June 2014) at the end of the period.
·       Equity was SEK 516.3 million (SEK 159.4 million, 30 June 2014) at the end of the period.
·       As Nordic Mines decided to stop production at the Laiva mine until further notice, no ore was processed during the period.
·       On 31 July 2014, the Uleåborg District Court adopted the composition plan proposal filed with the court by the administrator for Nordic Mines' Finnish subsidiary.
·       On 7 August 2014, the Uppsala District Court adopted the composition plan proposal filed with the court by the administrator for Nordic Mines' Swedish company.
·       On 11 August 2014, Nordic Mines announced that it had reached an agreement in principle with its lenders, which largely confirmed the preliminary, non-binding agreement presented on 5 June 2014.
·       On 14 August 2014, Nordic Mines announced that it had signed the final contract documentation regarding the agreement with the Company's lenders that was presented on 11 August 2014.
·       On 14 August 2014, Nordic Mines published a supplementary prospectus regarding the then upcoming rights issue.
·       On 22 August 2014, Nordic Mines announced that it had received notification of subscription for new shares in the then ongoing rights issue amounting to SEK 100 million.
·       On 1 September 2014, Nordic Mines announced that it had received notification of subscription for new shares in the then ongoing rights issue amounting to approximately SEK 152 million (before issue costs). The outcome of the issue meant that all conditions for concluding the refinancing of Nordic Mines were thereby fulfilled. On the same day, Nordic Mines announced a second supplementary prospectus regarding the rights issue.
·       On 10 September 2014 Nordic Mines announced that the proceeds from the rights issue had been received.

January - September 2014

·       Net income was only SEK 62.9 million (SEK 257.1 million) due to the production stop at the Laiva mine as of the second quarter.
·       The Company recorded an operating profit of SEK 343.8 million (SEK -121.9 million) as a result of significant debt write-downs.
·       Profit after tax for the period amounted to SEK 172.3 million (SEK -119.2 million), corresponding to SEK 0.23 (SEK -0.39) per share.
·       Comprehensive income for the period amounted to SEK 154.5 million (SEK -4.2 million), corresponding to SEK 0.21 (SEK -0.01) per share.
·       Cash and cash equivalents were SEK 129.7 million (SEK 7.0 million, 30 June 2014) at the end of the period.
·       Equity was SEK 516.3 million (SEK 159.4 million, 30 June 2014) at the end of the period.

Post balance sheet events

·       On 21 October 2014 Nordic Mines held a capital market presentation and in conjunction with this presentation also published a company update on the Company's website the same day. In the company update Nordic Mines described the current situation, its plans for the immediate future and long-term strategic priorities. Among other announcements, the company announced its goal of the Laiva mine delivering a positive EBITDA within 6-12 months of its restart.

Comments by the CEO, Thomas Cederborg

"Following the outcome of the rights issue of SEK 152 million, Nordic Mines has been able to conclude the reorganisation proceedings that have been underway since July 2013. The received funds from the issue have also made it possible to implement the write-down of around SEK 450 million. This write-down, the composition plans in Sweden and Finland and the proceeds from the issue have enabled Nordic Mines to progress from the threat of bankruptcy to an enhanced cash position. Together, they are also making it possible for us to have the goal during the winter/spring of 2015 of restarting operations at the Laiva mine in a manner that creates conditions for profitable mining," comments Nordic Mines CEO Thomas Cederborg.

For further information, please contact:
Thomas Cederborg, CEO, +46 708 480 521
Jonatan Forsberg, CFO, +46 76 105 13 10

For further information regarding Nordic Mines, please connect to www.nordicmines.com

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 08.00 (CET) on November 7, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines Interim report January - Spetember 2014

2014-10-21 Nordic Mines publishes Company Update

PRESS RELEASE, October 21, 2014

In connection with today's capital market presentation, Nordic Mines has published a Company Update on its website. The Company Update describes Nordic Mines's present situation, plans for the near future and long-term strategic priorities.

Today, on October 21, Nordic Mines will deliver a capital market presentation for investors, analysts and the media, at Operaterrassen. The presentation is held in light of the significant changes in Nordic Mines's conditions since the latest financial report was published. With the SEK 152 million rights issue that was completed in September, and the write-downs and composition plans that have reduced Nordic Mines's debt by SEK 440 million, the company is currently in a new and significantly stronger position.

Nordic Mines has now published the Company Update that will be presented during today's event. Among other things, the Company Update describes:

  • The milestones Nordic Mines will pass on the way towards restarting the Laiva mine during the winter/spring of 2015
  • The company's adjusted and more conservative strategy
  • A target of positive EBITDA from Laiva within 6-12 months from restarting the mine
  • The company's long-term focus on cash flow generation
  • In a longer perspective - the conditions for resuming exploration

Nordic Mines's new Company Update can be found here: [LINK]
Today's capital market presentation can be followed live through webcast here: [LINK]

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 October 21, 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. Its shares are traded on the Nasdaq OMX Small Cap list. See also www.nordicmines.se



Nordic Mines publishes Company Update

2014-10-14 Nordic Mines invites to Capital Market Presentation

PRESS RELEASE, October 14, 2014

As previously announced, Nordic Mines completed a SEK 152 million rights issue in September. Thus all conditions are fulfilled for the write down of debt and the composition plans whereby Nordic Mines debt-incurrence is reduced by circa 440 million. Altogether this means that Nordic Mines' conditions have changed significantly compared to last report.

To describe Nordic Mines' present and future situation the Company invites to a capital market presentation.

CEO Thomas Cederborg and CFO Jonathan Forsberg will, inter alia, provide more information about the restart of the Laiva mine and operational changes that are implemented. The presentation is followed by a question and answer session.

The presentation may also be followed live via webcast.


Time: Tuesday October 21, 2014, at 12.00 CET
Place: Operaterrassen, Stockholm

Lunch is served.

RSVP on www.financialhearings.com or by e-post to hearings@financialhearings.com

Welcome!

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 October 14, 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. Its shares are traded on the Nasdaq OMX Small Cap list. See also www.nordicmines.se



Invitation to Capital Market Presentation

2014-09-30 Publication of changes in the total number of shares and votes in Nordic Mines

PRESS RELEASE SEPTEMBER 30, 2014

During September 2014 the number of shares and votes in Nordic Mines AB (publ) ("Nordic Mines") has increased due to the, in accordance with previously disclosed information, implemented capital raise.

The total number of shares and votes in Nordic Mines as per September 30, 2014, amounts to 5,403,043,196. As per September 1, 2014, the total number of shares and votes in Nordic Mines AB (publ) amounted to 341,216,952. Implying that during September 2014 the total number of shares and votes has increased with 5,061,826,244.

Through the capital raise the share capital has increased with SEK 50,618,262.44 and the total share capital in Nordic Mines as per September 30, 2014, amounts to SEK 391,835,214.44.

In accordance with previously disclosed information, Nordic Mines has during September 2014, as part of the capital raise and with deviation from the shareholders' preferential rights, issued zero-cost warrants to the company's lenders. The total number of issued warrants is 736,778,618, each warrant entitling to subscription of one new share in Nordic Mines at the share's quota value during the period September 16, 2014 - September 10, 2023. The issue was resolved by Nordic Mines' board of directors by virtue of the authorisation given by the annual general meeting on June 27, 2014.

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 is information that Nordic Mines AB (publ) is required to disclose under the Swedish Securities Market Act. The information was published at 8:00 a.m. CET on September 30, 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.



Changes in the total number of shares in Nordic Mines

2014-09-10 Nordic Mines proceeds of rights issue received

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 10, 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

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has now received payment for new shares in the rights issue. Trading in paid subscribed shares (Betalda Tecknade Aktier, "BTA" in Swedish) in Nordic Mines is expected to commence on NASDAQ OMX Stockholm on Thursday September 11, 2014.

"As the proceeds of the rights issue has been received, all conditions are fulfilled for the significant write down of debt and the composition plans in Sweden and Finland which implies that Nordic Mines' debt-incurrence, all else equal, decrease accordingly by SEK 440 million (EUR 48m). Additionally, the liquidity increase provided by the rights issue implies that we immediately can commence the work to restart the Laiva operations. The mine has historically produced over 2 tons of gold, and with the ongoing action plan prerequisites for profitable mining are created", comments Thomas Cederborg, CEO of Nordic Mines.

As previously announced (by way of a press release on September 1, 2014) Nordic Mines has received applications for subscription of new shares in the ongoing rights issue amounting to approximately SEK 152 million (before transaction costs). As the Company has now received payments for new shares exceeding the minimum capital requirement of SEK 150 million, which was set as a condition of the rights issue, the Company has commenced the work of booking BTAs to respective VP-accounts. In connection with this the registration of the rights issue with the Swedish Companies Registration Office begins. Trading with BTAs in Nordic Mines is expected to commence on NASDAQ OMX Stockholm on September 11, 2014.

After the Swedish Companies Registration Office has registered the rights issue, allotted BTAs will be converted into new shares as soon as possible. Scheduled last day of trading in BTAs is on Monday September 15, 2014, and the stop date in Euroclear is on Thursday September 18, 2014. After registration of the rights issue the number of shares in Nordic Mines is estimated to amount to 5,403,043,195. The new shares in Nordic Mines are expected to be subject of trading on NASDAQ OMX Stockholm on Monday September 22, 2014.

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 September 10, 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



Proceeds of rights issue recieved

2014-09-01 Publication of a second supplementary prospectus relating to Nordic Mines rights issue

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 Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a second supplementary prospectus for the prospectus released on May 7, 2014, concerning the rights issue announced on March 26, 2014. The second supplementary prospectus has been prepared in connection with the publication of Nordic Mines' interim report for the period January - June 2014.

This supplementary prospectus has been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The prospectus is now available on Nordic Mines (www.nordicmines.com) and Evli Bank 's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours +46-8-407 80 14.

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 2:00 p.m. CET on September 1, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Press release (PDF)

2014-09-01 The new issue in Nordic Mines is subscribed to circa SEK 152m

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

2014-08-29 Nordic Mines AB (publ) Interim report January - June 2014

Second quarter 2014
·       Net sales proceeds for gold and silver amounted to SEK 10.0 million (SEK 97.3 million).
·       The company recorded an operating loss of SEK -26.0 million (SEK -10.1 million).
·       Loss after tax for the period amounted to SEK -27.1 million (SEK -26.6 million), corresponding to SEK -0.08 (SEK -0.08) per share.
·       Comprehensive income for the period amounted to SEK -32.8 million (SEK 37.7 million), corresponding to SEK -0.10 (SEK 0.11) per share.
·       Cash and cash equivalents were SEK 7.0 million (SEK 21.9 million, 31 March 2014) at the end of the period.
·       Investments were SEK 0.8 million (SEK 10.2 million).
·       As Nordic Mines decided to stop production at the Laiva mine until further notice, no ore was processed during the period. However, the tanks at the processing plant were emptied and doré bars equivalent to 36 kg of gold were produced.
·       On 8 April 2014, Nordic Mines published the annual report for the 2013 fiscal year.
·       Nordic Mines held an extraordinary general meeting on 28 April 2014. The EGM decided to approve the Board's decision from 25 March 2014 on one rights issue for Company shareholders and two directed new share. Under the terms of the rights issue, full subscription of the rights issue provides the Company a maximum of SEK 194 million before issue expenses. For more information on new share issues, refer to the section New share issues.
·       On 7 May 2014, Nordic Mines published a prospectus regarding the rights issue.
·       On 5 June 2014, Nordic Mines announced a preliminary agreement with the Company's lenders after the Company entered into a non-binding term sheet with its lenders. The preliminary agreement includes write-down of debt from EUR 45 million (approx. SEK 410 million). Pursuant to the preliminary agreement, after write-down lenders received EUR 12.5 million (approx. SEK 113 million) in extended loan, payment of diverse one-off costs of EUR 2.5 million (approx. SEK 23 million) and the issue of warrants in Nordic Mines (after the completed new issues) equal to 12 per cent of the outstanding shares in the Company or EUR 2.5 million (approx. SEK 23 million), whichever is higher.
·       On 27 June, Nordic Mines held its annual general meeting. The AGM resolved, among other things, to grant the outgoing Board discharge from liability and the Chairman and remaining board members were re-elected. The AGM also authorised the Board to decide on one or several issues of warrants without preferential rights to shareholders. This authorisation is part of the preliminary agreement with the Company's lenders.
·       Since applying for reorganisation, the bank consortium continues to exercise an administrative option of withholding payments from sales of gold, which increases the risk of delayed or missed payments to other creditors, such as suppliers, authorities and employees.

Post balance sheet events

·       On 31 July 2014, the Uleåborg District Court adopted the composition plan proposal filed with the court by the administrator for Nordic Mines' Finnish subsidiary, attorney Hannu Ylönen of the law firm Krogerus. For the subsidiary's unsecured creditors, the composition means full cash payment for claims amounting to maximum EUR 1,000 (approx. SEK 9,000). For claims exceeding EUR 1,000, the composition prescribes 10 per cent payment of the total claim amount.
·       On 7 August 2014, the Uppsala District Court adopted the composition plan proposals filed with the court by the administrator for Nordic Mines' Swedish companies, attorney Håkan Rudström of the law firm Lindahl. For the Swedish companies' unsecured creditors, the composition plan proposals mean full cash payment for claims amounting to maximum SEK 9,000 and 10 per cent payment of claims exceeding this amount.
·       On 11 August 2014, Nordic Mines announced that the Company had reached an agreement in principle with its lenders, which largely confirmed the preliminary, non-binding agreement presented on 5 June 2014. In addition, the agreement entailed, among other things, that the Company accept stringent demands when it comes to factors such as a ramp-up plan, financial model and operational testing. If the Finnish subsidiary fails to comply with the demands in the agreement in principle, an event of default under the facility agreement will be at hand which may result in the lenders having a right to apply for the Finnish composition plan to be revoked.
·       On 14 August 2014, Nordic Mines announced that the final contract documentation regarding the agreement with the Company's lenders presented on 11 August 2014 had been signed. With the agreement, all of the stipulated conditions for registration for subscription of shares in the rights issue were met.
·       On 14 August 2014, Nordic Mines published a supplementary prospectus regarding the upcoming rights issue. The supplementary prospectus was drafted due to the final agreement with the Company's lenders and the composition plans adopted by the Swedish and Finnish courts.
·       On 22 August 2014, Nordic Mines announced that it received notification of subscription for new shares in the rights issue amounting to SEK 100 million.  The outcome of the issue meant that the rights issue on its own did not subsequently provide the Company the minimum capital contribution of SEK 150 million which was imposed as a condition for implementing the rights issue. At the same time, the Board announced that the Company was continuing to work within the framework of the financing plan presented in April 2014 to achieve the imposed issue condition relating to minimum capital contribution. In the event that additional capital contribution equivalent to at least SEK 50 million could not be obtained, there would be a risk that the Company will be forced to declare bankruptcy.

January - June 2014

·       Net sales proceeds for gold and silver amounted to SEK 61.6 million (SEK 182.7 million).
·       The company recorded an operating loss of SEK -62.8 million (SEK -69.1 million).
·       Loss after tax for the period amounted to SEK -63.6 million (SEK -72.3 million), corresponding to SEK -0.19 (SEK -0.23) per share.
·       Comprehensive income for the period amounted to SEK -69.8 million (SEK 15.2 million), corresponding to SEK -0.20 (SEK 0.05) per share.
·       Cash and cash equivalents were SEK 7.0 million (SEK 28.1 million, 31 December 2013) at the end of the period.
·       Investments were SEK 1.2 million (SEK 36.0 million).

Comments by the Managing Director, Thomas Cederborg

"Through the agreement with the Company's lenders and the composition plan proposals adopted for the Company's Swedish and Finnish subsidiaries, debts totalling approximately EUR 48 million (approximately SEK 440 million) have now been written down. In combination with a capital contribution, this enables restart of the Laiva mine. We are grateful for the confidence shown by Company shareholders through their submission of registrations for subscription in the rights issue in an amount equivalent to SEK 100 million. The Company Board and management are now working intensively within the framework of the financing plan presented in April to achieve the set issue condition relating to minimum capital contribution of SEK 150 million," says Managing Director Thomas Cederborg in a statement.

Reorganisation proceedings

On 7 August 2014, the Uppsala District Court decided to adopt the composition plan proposals filed with the court by the administrator for Nordic Mines' Swedish companies, attorney Håkan Rudström of the law firm Lindahl. For the Swedish companies' unsecured creditors, the composition plan proposals mean full cash payment for claims amounting to maximum SEK 9,000 and 10 per cent payment of claims exceeding this amount. On 31 July 2014, the Uleåborg District Court decided to adopt the composition plan proposal filed with the court by the administrator for Nordic Mines' Finnish subsidiary, attorney Hannu Ylönen of the law firm Krogerus. For the subsidiary's unsecured creditors, the composition means full cash payment for claims amounting to maximum EUR 1,000 (approx. SEK 9,000). For claims exceeding EUR 1,000, the composition prescribes 10 per cent payment of the total claim amount. The composition plan includes conditions that allow the Company's lenders and the composition plan supervisor, under certain conditions (which are presented in more detail in the composition plan proposal) to apply for the composition to be revoked.

Additional disclosures regarding the composition plans are provided in the supplementary prospectus that has been registered by the Swedish Financial Supervisory Authority and published on 14 August 2014.

Project loans

Nordic Mines has signed final contract documentation regarding an agreement with the Company's lenders, which  includes, inter alia:

  • Write-down of debt from EUR 45.1 million (approximately SEK 406 million) to EUR 12.5 million (approximately SEK 113 million).
  • A one-off cost of EUR 2.5 million (approximately SEK 23 million) to pay accrued interest and other costs related to current debt.
  • Issue of warrants in Nordic Mines directed to the Company's lenders. The new shares that can be subscribed by exercising the warrants, where the parties' intention is that these shall be paid through offset against outstanding debt under the facility agreement, shall after the completed rights issue (and any targeted issues) be 12 per cent of the outstanding shares in the Company or EUR 2.5 million (approximately SEK 23 million), whichever is higher.

Through the agreement with the Company's lenders and the composition plan proposals adopted for the Group's Swedish and Finnish subsidiaries (see the section "Reorganisation proceedings" above), debts totalling approximately EUR 48 million (approximately SEK 440 million) are being written down.

The agreement also includes that Nordic Mines accepts stringent demands when it comes to the drafting of a ramp-up plan for the Laiva mine and an updated financial model (which shall be approved by the lenders) and that various operational tests shall start to be measured already for the period 1 February - 30 April 2015. If the Finnish subsidiary fails to comply with these or other demands, an event of default under the facility agreement will be at hand which may result in the lenders having a right to apply for the Finnish composition plan to be revoked.  Additional disclosures regarding the agreement are presented in the supplementary prospectus.

With the agreement with the Company's lenders, all conditions of registration for subscription of shares in the rights issue are met.

 

New share issues

Nordic Mines' extraordinary general meeting resolved on 28 April 2014 to approve the rights issue for new shares previously resolved by the Board of Directors. The EGM also resolved to approve two directed new share issues to long-term investors and the Company's creditors. The subscription deadline for the rights issue was initially 22 May 2013, althoughthe Board had the possibility to decide on extensions. After such extensions deadline was finalised as 15 August 2014.

For further information, please contact:
Thomas Cederborg, CEO, +46 708 480 521
Susanne Andersson, CFO, +46 730 668 904

For further information regarding Nordic Mines, please connect to www.nordicmines.com

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 09.00 (CET) on August 29, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines Interim report January - June 2014

2014-08-22 Nordic Mines informs about the ongoing capital raise. The efforts to provide the company with at least SEK 150m to fund a restart of the Laiva mine continues

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 22, 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

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has received applications for subscription of new shares in the ongoing rights issue amounting to SEK 100m. The rights issue alone does not provide the Company with the minimum capital increase of SEK 150m set as a condition for the carrying out of the rights issue. The Board of Directors continues the efforts to, within the scope of the financing plan presented in April this year, achieve the condition of the rights issue regarding minimum capital increase.

Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approve the rights issue previously resolved by the Board of Directors. The extraordinary general meeting also resolved to approve two private placements directed to long-term investors and to the Company's creditors, respectively.

The rights issue is, inter alia, conditional in such a way that the Company needs to be provided with a capital increase of at least SEK 150m (implying a share capital increase of at least SEK 50m). If the Company concurrently with the rights issue receives other capital increase (equity or debt) which together with the proceeds of the rights issue amounts to at least SEK 150m, it is however sufficient if the rights issue provides a capital increase of at least SEK 90m (corresponding to a share capital increase of at least SEK 30m).

The Company has received applications for subscription of new shares in the rights issue amounting to SEK 100m, corresponding to a subscription level of 52 % (of which 39 % were subscribed for with subscription rights). The rights issue alone does not provide the Company with a capital increase large enough to fulfill the condition of the rights issue. The Board of Directors continues the ongoing negotiations and its work  with other indications of interest received by the Board of Directors and the Company's financial advisor Evli Bank. This in order to examine if the remaining capital needed to reach a total capital increase of at least SEK 150m may be obtained. The Board of Directors intends to present more information on the result of the ongoing negotiations during next week.

Those who have applied for subscription of new shares in the rights issue need not to take any further action at this time. Payment for the new shares should be made only when advice of payment has been distributed. Such advice of payment will be distributed if the Board of Directors makes the appraisal that the conditions of the rights issue, as outlined above, will be fulfilled.

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 CET on August 22, 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



Nordic mines informs about the ongoing capital rise.

2014-08-14 Publication of supplementary prospectus relating to Nordic Mines rights issue

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 14, 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 Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a supplementary prospectus for the prospectus released on May 7, 2014, concerning the rights issue announced on March 26, 2014. The supplementary prospectus has been prepared as a result of the final agreement with the Company's lenders and the composition plans affirmed by Swedish and Finnish court.

The supplementary prospectus has been approved and registered by Finansinspektionen. The prospectus is now available on Nordic Mines (www.nordicmines.com) and Evli Bank 's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours +46-8-407 80 00.

The agreement with the Company's lenders includes write down of debt from EUR 45.1m to EUR 12.5m, payment of one-off cost of EUR 2.5m and issue of warrants in Nordic Mines equal to the higher value of 12 percent of outstanding shares in the Company or EUR 2.5m. The agreement includes that the Company accepts great demands when it comes to the preparation of a ramp up plan and a financial model and operating tests. If the Finnish subsidiary does not comply with those demands, an event of default under the facility agreement will be at hand which may result in that the lenders have a right to apply for the Finnish composition plan to lapse.

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 13:30 CET on August 14, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Nordic Mines publication of supplementary prospectus

2014-08-14 Final contract documentation between Nordic Mines and the Company's lenders now signed

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 14, 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

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has now signed the final contract documentation regarding the agreement with the Company's lenders. The agreement includes write down of debt from EUR 45.1m to EUR 12.5m, payment of one-off cost of EUR 2.5m and issue of warrants in Nordic Mines equal to the higher value of 12 percent of outstanding shares in the Company or EUR 2.5m. The agreement includes that the Company accepts great demands when it comes to the preparation of a ramp up plan and a financial model and operating tests. If the Finnish subsidiary does not comply with those demands, an event of default under the facility agreement will be at hand which may result in that the lenders have a right to apply for the Finnish composition plan to lapse.

Having the agreement with the Company's lenders in place all conditions for application for subscription of shares in the rights issue are now fulfilled.

The Company disclosed through a press release on August 11, 2014 that the Company and its lenders had reached an agreement in principle, based on previously agreed non-binding so called term sheet. The final contract documentation has now been signed by the parties.

The District Court of Uppsala has on August 7, 2014 made its decision to adopt the composition plan proposals, filed with the District Court by the administrator for the group's Swedish subsidiaries, attorney Håkan Rudström at Advokatfirman Lindahl. The District Court of Uleåborg has on July 31, 2014 made its decision to adopt the composition plan proposal filed with the District Court by the administrator of the Company's Finnish subsidiary.

Taking the agreement with the Company's lenders as well as the adopted composition plans regarding the Company's Swedish and Finnish companies into consideration, debt of approx. EUR 48m (approx. SEK 440m) is written down.

Agreement with the Company's lenders

The agreement is based on the previously agreed non-binding so called term sheet and includes, inter alia:

  • Write down of debt from EUR 45.1m (approx. SEK 406m) to EUR 12.5m (approx. SEK 113m).
  • One-off cost of EUR 2.5m (approx. SEK 23m) to pay accrued interest and other costs related to current debt.
  • Issue of warrants in Nordic Mines directed to the Company's creditors. The new shares that can be subscribed by exercising the warrants, where the parties' intention is that those shall be paid through a set-of issue of existing claims under the facility agreement, should after the rights issue be equal to the higher value of 12 percent of outstanding shares in the Company or EUR 2.5m (approx. SEK 23m).

The agreement includes that the Company accepts great demands when it comes to the preparation of a ramp up plan for the Laiva mine and an updated financial model (which shall be approved by the lenders) and that various operating tests shall start to be measured already for the period February 1 - April 30, 2015. If the Finnish subsidiary does not comply with those demands, an event of default under the facility agreement will be at hand which may result in that the lenders have a right to apply for the Finnish composition plan to lapse.

Additional information regarding the final terms of the agreement is presented in the supplementary prospectus that has been registered by the Swedish Supervisory Authority and published today.

The final agreement is also conditional upon approval from the administrator of the group's Swedish entities and the supervisor of the composition plan for the Company's Finnish subsidiary.

Rights issue

Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approve the rights issue previously resolved by the Board of Directors. The rights issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on August 4, 2014) up until August 15, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, is conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's lenders regarding, inter alia, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group. Having the agreement with the Company's lenders in place all conditions for the application for subscription of shares in the rights issue are now fulfilled.

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours,
+46 8 407 80 14.

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 13:30 CET on August 14, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Agreement signed between Nordic Mines and the Company´s lenders

2014-08-13 Clarification regarding trade in Nordic Mines' paid subscribed shares (BTA)

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 13, 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 trades made in Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company") paid subscribed shares (Betalda Tecknade Aktier, "BTA" in Swedish) on NASDAQ OMX Stockholm ("NASDAQ OMX") on August 12, 2014 have been canceled. No trading in BTA can occur until the condition of the rights issue and the conditions for application for subscription have been fulfilled and payment instructions have been sent to holders of unpaid subscribed shares (Obetalda Tecknade Aktier, "OTA" in Swedish). There are no BTA's issued in Euroclear yet and no BTA's will be issued until the OTA's have been paid for.

Payment instructions for holders of OTA's will not be sent until the condition of the rights issue and the conditions for application for subscription have been fulfilled. Provided that the condition of the rights issue and the conditions for application for subscription fulfills, payment instructions will be sent during week 34 at the earliest. The Company intends to, by way of a press release, announce if and when this occurs.

The steps of the rights issue

Those directly registered shareholders and investors using subscription rights to apply for subscription of new shares will receive OTA's on their VP-accounts. No trading will occur in the OTA's as they are locked on each investor's VP-account. When the condition of the rights issue and the conditions for application for subscription are fulfilled, payment instructions will be sent to those who have applied for subscription. As of payment, the OTA's will be converted to BTA's which will be subject for trading on NASDAQ OMX. BTA's will be booked as regular shares after the rights issue has been registered at the Swedish Companies Registration Office.

For additional information, please contact:

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 08:00 CET on August 13, 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



Clarification regarding trade in Nordic Mines' paid subscribed shares

2014-08-11 Nordic Mines has reached an agreement in principle with the Company's lenders

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 11, 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

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has reached an agreement in principle with the Company's lenders including write down of debt from EUR 45.1m to EUR 12.5m, payment of one-off cost of EUR 2.5m and issue of warrants in Nordic Mines equal to the higher value of 12 percent of outstanding shares in the Company or EUR 2.5m. The agreement in principle includes that the Company accepts great demands when it comes to the preparation of a ramp up plan and a financial model and operating tests. If the Finnish subsidiary does not comply with those demands, an event of default under the facility agreement will be at hand which may result in that the lenders have a right to apply for the Finnish composition plan to lapse.

Having the agreement in principle with the Company's lenders in place the Company now expects that all conditions for application for subscription of shares in the rights issue may be fulfilled before the end of the extended application period.

The Company disclosed through a press release on June 5, 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions for, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Simultaneously, the District Court of Uppsala has on August 7, 2014 made its decision to adopt the composition plan proposals, filed with the District Court by the administrator for the group's Swedish subsidiaries, attorney Håkan Rudström at Advokatfirman Lindahl. The District Court of Uleåborg has on July 31, 2014 made its decision to adopt the composition plan proposal filed with the District Court by the administrator of the Company's Finnish subsidiary.

Agreement in principle with the Company's lenders

The agreement in principle is based on the previously agreed non-binding so called term sheet and includes, inter alia:

  • Write down of debt from EUR 45.1m (approx. SEK 406m) to EUR 12.5m (approx. SEK 113m).
  • One-off cost of EUR 2.5m (approx. SEK 23m) to pay accrued interest and other costs related to current debt.
  • Issue of warrants in Nordic Mines directed to the Company's creditors. The new shares that can be subscribed by exercising the warrants, where the parties' intention is that those shall be paid through a set-of issue of existing claims under the facility agreement, should after the rights issue be equal to the higher value of 12 percent of outstanding shares in the Company or EUR 2.5m (approx. SEK 23m).

The agreement in principle also includes that the Company accepts great demands when it comes to the preparation of a ramp up plan for the Laiva mine and an updated financial model (which shall be approved by the lenders) and that various operating tests shall start to be measured already for the period February 1 - April 30, 2015. If the Finnish subsidiary does not comply with those demands, an event of default under the facility agreement will be at hand which may result in that the lenders have a right to apply for the Finnish composition plan to lapse.

Final contract documentation is expected to be signed by the parties within the next coming days. Additional information regarding the final terms of the agreement will be presented in the supplementary prospectus that is expected to be registered by the Swedish Supervisory Authority and published within a few days after the final contract documentation has been signed by the parties.

The final agreement is also conditional upon approval from the administrator of the group's Swedish entities and the supervisor of the composition plan for the Company's Finnish subsidiary.

Rights issue

Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approve the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on August 4, 2014) up until August 15, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, is conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's lenders regarding, inter alia, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group. Having the agreement in principle with the Company's lenders in place the Company expects that all conditions for the application for subscription of shares in the rights issue may be fulfilled.

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours,
+46 8 407 80 14.

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 08:30 CET on August 11, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Nordic Mines has reached an agreement in principle with the lenders

2014-08-07 Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and in Finland

PRESS RELEASE August 7, 2014

Swedish reorganization procedure
The District Court of Uppsala has today made its decision to adopt the composition plan proposals filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company") Swedish companies. For unsecured creditors, the composition proposals would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 percent payment of claims in excess of that.

Finnish reorganization procedure
The District Court of Uleåborg has previously made its decision to adopt the composition plan proposal filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company")  Finnish subsidiary. For all unsecured creditors of the subsidiary, the composition plan implies full cash payment of receivables up to EUR 1,000 (SEK 9,000). For receivables in an amount exceeding EUR 1,000, the composition plan implies that 10 percent of the aggregate amount of the receivable will be paid. The composition plan includes conditions allowing the Company's lenders and the supervisor of the corporate restructuring to apply for the lapsing of the corporate restructuring if, inter alia, a final agreement is not reached with the Company's lenders by the August 8, 2014 at the latest (please refer to "Ongoing discussion with the Company's lenders" below).

Ongoing discussion with the Company's lenders
The Company disclosed through a press release on June 5, 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions including, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Such final agreement has not yet been reached with the lenders.

Conditioned Rights Issue
Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approved the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on July 25, 2014) up until August 15, 2014.

Applications to subscribe for shares in the Rights Issue, with or without preferential right, are conditional upon that, by the last day of the application period at the latest, a final agreement is reached with the Company's lenders as well as the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganisation and the Finnish company reorganisation in relation to companies within the group.

For further information, please contact:
Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 15.00 (CET) on August 7, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.



Nordic Mines informs

2014-08-06 Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and in Finland

PRESS RELEASE August 6, 2014

Swedish reorganization procedure
The District Court of Uppsala has today held creditor committee meetings in regards to the composition plan proposals filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company") Swedish companies. On today's creditor committee meetings all creditors represented in the meetings voted in favour of the composition plan proposals. For unsecured creditors, the composition proposals would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 percent payment of claims in excess of that. Final decision on the proposals is to be decided by the District Court of Uppsala tomorrow August 7, 2014.

Finnish reorganization procedure
The District Court of Uleåborg has previously made its decision to adopt the composition plan proposal filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company") Finnish subsidiary. For all unsecured creditors of the subsidiary, the composition plan implies full cash payment of receivables up to EUR 1,000 (SEK 9,000). For receivables in an amount exceeding EUR 1,000, the composition plan implies that 10 percent of the aggregate amount of the receivable will be paid. The composition plan includes conditions allowing the Company's lenders and the supervisor of the corporate restructuring to apply for the lapsing of the corporate restructuring if, inter alia, a final agreement is not reached with the Company's lenders by the August 8, 2014 at the latest (please refer to "Ongoing discussion with the Company's lenders" below).

Ongoing discussion with the Company's lenders
The Company disclosed through a press release on June 5, 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions including, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Such final agreement has not yet been reached with the lenders.

Conditioned Rights Issue
Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approved the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on July 25, 2014) up until August 15, 2014.

Applications to subscribe for shares in the Rights Issue, with or without preferential right, are conditional upon that, by the last day of the application period at the latest, a final agreement is reached with the Company's lenders as well as the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganisation and the Finnish company reorganisation in relation to companies within the group.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 12.30 (CET) on August 6, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm. 



Nordic Mines informs.pdf

2014-08-04 The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 7 days until and including August 15, 2014

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, August 4, 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

As previously announced, the Board of Directors in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has intended to extend the application period should not the conditions for application be fulfilled by the end of the period.

The Company's lenders have, subject to certain conditions, approved the Swedish composition plan. However, the final agreements between the Company and its lenders, regarding the principal conditions including, inter alia, write-downs of existing claims, are not yet finalized. Thus, the Board of Directors has decided to prolong the application period for the rights issue until 17:00 CET on August 15, 2014. The period of trading in subscription rights is also extended. The last day of trading is on August 12, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, will be conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's creditors regarding, among other things, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group.

The Board of Directors has resolved on the following timetable to enable fulfillment of the conditions:

  • The application period is extended until 17:00 CET on August 15, 2014. The last day of trading in subscription rights is on August 12, 2014.
  • Should the conditions for application for subscription be fulfilled and, in the Board of Directors' opinion, it's expected that the conditioned minimum amount of the rights issue is achieved, payment instructions will be distributed after the application period. Full cash payment for the subscribed shares should be made no later than 17:00 CET on August 29, 2014 according to the instructions on the payment slip.
  • The rights issue is expected to be registered at the Swedish Companies Registration Office during week 36 2014 after which paid subscribed shares (BTA) will be converted to ordinary shares.
  • The final outcome of the rights issue is expected around September 4, 2014.

Should the conditions of the rights issue and for application to subscribe for new shares not be fulfilled by the last day of the application period on August 15, 2014, the Board of Directors reserves the right to extend the period further. This will be announced no later than on August 15, 2014.

Timetable for the rights issue

Last day of trading in subscription rights August 12, 2014
Last day to apply for subscription of shares August 15, 2014
Last day for payment of new shares August 29, 2014
Registration at Swedish Companies Registration Office Expected during week 36 2014
Final outcome of the rights issue Around September 4, 2014

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours, +46 8 407 80 14.

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 08:00 CET on August 4, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Extended application period to subscribe for new shares

2014-07-31 Nordic Mines informs on the ongoing corporate reorganisation procedures in Finland and in Sweden

PRESS RELEASE July 31, 2014

Finnish reorganization procedure
The District Court of Uleåborg has today made its decision to adopt the composition plan proposal filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company")  Finnish subsidiary. For all unsecured creditors of the subsidiary, the composition plan implies full cash payment of receivables up to EUR 1,000 (SEK 9,000). For receivables in an amount exceeding EUR 1,000, the composition plan implies that 10 percent of the aggregate amount of the receivable will be paid. The composition plan includes conditions allowing the Company's lenders and the supervisor of the corporate restructuring to apply for the lapsing of the corporate restructuring if, inter alia, a final agreement is not reached with the Company's lenders by the August 8, 2014 at the latest (please refer to "Ongoing discussion with the Company's lenders" below).

Swedish reorganization procedure
The administrator for the Swedish companies within the Nordic Mines group has previously filed composition proposals with Uppsala District Court which are supported by creditors representing at least 40 percent of outstanding unsecured debt (as per press release on July 8, 2014). At the initial creditor committé meetings held on July 30, 2014, it was resolved to postpone the meetings until August 6, 2014. At the continued creditor committé meetings the District Court will decide whether the composition proposals can be adopted. For unsecured creditors, the composition proposal would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 percent payment of claims in excess of that.

Ongoing discussion with the Company's lenders
The Company disclosed through a press release on June 5, 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions including, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Such final agreement has not yet been reached with the lenders.

Conditioned Rights Issue
Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approved the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on July 25, 2014) up until August 8, 2014.

Applications to subscribe for shares in the Rights Issue, with or without preferential right, are conditional upon that, by the last day of the application period at the latest, a final agreement is reached with the Company's lenders as well as the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganisation and the Finnish company reorganisation in relation to companies within the group.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 14:15 (CET) on July 31, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm. 



Nordic Mines informs on the ongoing corporate reorganisation

2014-07-25 The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 7 days until and including August 8, 2014

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, July 25, 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

As previously announced, the Board of Directors in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has intended to extend the application period should not the conditions for application be fulfilled by the end of the period.

The Company's lenders have, subject to certain conditions, approved the Swedish composition plan. However, the final agreements between the Company and its lenders, regarding the principal conditions including, inter alia, write-downs of existing claims, are not yet finalized. Thus, the Board of Directors has decided to prolong the application period for the rights issue until 17:00 CET on August 8, 2014. The period of trading in subscription rights is also extended. The last day of trading is on August 5, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, will be conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's creditors regarding, among other things, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group.

The Board of Directors has resolved on the following timetable to enable fulfillment of the conditions:

  • The application period is extended until 17:00 CET on August 8, 2014. The last day of trading in subscription rights is on August 5, 2014.
  • Should the conditions for application for subscription be fulfilled and, in the Board of Directors' opinion, it's expected that the conditioned minimum amount of the rights issue is achieved, payment instructions will be distributed after the application period. Full cash payment for the subscribed shares should be made no later than 17:00 CET on August 22, 2014 according to the instructions on the payment slip.
  • The rights issue is expected to be registered at the Swedish Companies Registration Office during week 35 2014 after which paid subscribed shares (BTA) will be converted to ordinary shares.
  • The final outcome of the rights issue is expected around August 28, 2014.

Should the conditions of the rights issue and for application to subscribe for new shares not be fulfilled by the last day of the application period on August 8, 2014, the Board of Directors reserves the right to extend the period further. This will be announced no later than on August 8, 2014.

Timetable for the rights issue

Last day of trading in subscription rights August 5, 2014
Last day to apply for subscription of shares August 8, 2014
Last day for payment of new shares August 22, 2014
Registration at Swedish Companies Registration Office Expected during week 35 2014
Final outcome of the rights issue Around August 28, 2014

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours,
+46 8 407 80 14.

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 08:00 CET on July 25, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Extended application period to subscribe for new shares

2014-07-17 Nordic Mines postpones the financial report for the second quarter, 2014

PRESS RELEASE July 17, 2014

Nordic Mines AB (publ) postpones the financial report for the second quarter, 2014. The financial report will instead be published on August 29, 2014. Previously announced publication date was July 24, 2014.

The report is postponed due to the Swedish and Finnish courts' processing of the proposed composition plans in Sweden and in Finland and in addition, the not yet finalized discussions with the company creditors in order to reach a final agreement.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 08:00 (CET) on July 17, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm. 



Nordic Mines postpones the financial report for the second quarter

2014-07-10 Nordic Mines' production report for the second quarter 2014
PRESS RELEASE July 10, 2014

In March 2014, Nordic Mines decided to temporarily stop the production at the Laiva mine until external financing is secured. Up until then the company had continued to process ore from stockpiles of ore mined at an earlier stage. Due to the production stop, no ore has been processed during the second quarter 2014. However, during the second quarter the tanks at the process plant has been emptied and doré bars corresponding to 36 kgs of gold has been melted.

The financial report for the second quarter 2014 will be published on July 24, 2014.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 08:00 (CET) on July 10, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm. 



Production report for the second quarter 2014

2014-07-08 Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and Finland
PRESS RELEASE July 8, 2014

Swedish reorganization procedure
The administrator for the Swedish companies within the Nordic Mines group has to the Uppsala District Court filed composition plans supported by creditors representing at least 40 percent of outstanding unsecured debt. The District Court has approved the administrator's composition plan proposals and called for creditor committé meetings on July 30, 2014. At the creditor committé meetings, the District Court will decide whether the final composition plan can be decided upon. In addition, the District Court has the possibility to further postpone the completion of the creditor comitté meetings for another three weeks after July 30, 2014. For all unsecured creditors, the composition plan would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 per cent payment of claims in excess of that.

Finnish reorganization procedure
The administrator for the Finnish subsidiary is expected to file a composition plan proposal to the Uleåborg District Court as of today July 8, 2014. The creditors to the Finnish subsidiary will then be able to respond to the proposal until July 18, 2014. Thereafter, a request will be filed to the District Court for final decision on the composition plan. The reorganization procedure for the Finnish company will thus also continue. For all unsecured creditors, the composition plan would imply full cash payment of receivables up to EUR 1,000 (SEK 9,000) and 10 per cent payment of receivables larger than EUR 1,000 (SEK 9,000).

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 14:15 (CET) on July 8, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm. 



Nordic Mines informs

2014-07-04 The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 21 days until and including August 1, 2014

Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, 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, July 4, 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

As previously announced, the Board of Directors in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has intended to extend the application period should not the conditions for application be fulfilled by the end of the period.

The Company's lenders have now, subject to certain conditions, approved the Swedish composition plan. However, the final agreements between the Company and its lenders, regarding the principal conditions including, inter alia, write-downs of existing claims, are not yet finalized. Thus, the Board of Directors has decided to prolong the application period for the rights issue until 17:00 CET on August 1, 2014. The period of trading in subscription rights is also extended. The last day of trading is on July 29, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, will be conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's creditors regarding, among other things, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group.

The Board of Directors has resolved on the following timetable to enable fulfillment of the conditions:

  • The application period is extended until 17:00 CET on August 1, 2014. The last day of trading in subscription rights is on July 29, 2014.
  • Should the conditions for application for subscription be fulfilled and, in the Board of Directors' opinion, it's expected that the conditioned minimum amount of the rights issue is achieved, payment instructions will be distributed after the application period. Full cash payment for the subscribed shares should be made no later than 17:00 CET on August 22, 2014 according to the instructions on the payment slip.
  • The rights issue is expected to be registered at the Swedish Companies Registration Office during week 35 2014 after which paid subscribed shares (BTA) will be converted to ordinary shares.
  • The final outcome of the rights issue is expected around August 28, 2014.

Should the conditions of the rights issue and for application to subscribe for new shares not be fulfilled by the last day of the application period on August 1, 2014, the Board of Directors reserves the right to extend the period further. This will be announced no later than on August 1, 2014.

Timetable for the rights issue

Last day of trading in subscription rights July 29, 2014
Last day to apply for subscription of shares August 1, 2014
Last day for payment of new shares August 22, 2014
Registration at Swedish Companies Registration Office Expected during week 35 2014
Final outcome of the rights issue Around August 28, 2014

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours,
+46 8 407 80 14.

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 08:00 CET on July 4, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes 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



Extended application period for new shares in Nordic Mines

2014-06-27 Communique from Nordic Mines' Annual General Meeting 2014

PRESS RELEASE 27 JUNE 2014

Communique from Nordic Mines' Annual General Meeting 2014

The Annual General Meeting held in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") today 27 June 2014, at Drabanten företagshotell, Bangårdsgatan 13, in Uppsala, resolved in accordance with the proposed resolutions.

Resolution on the adoption of balance sheet and income statement, disposal of the result and discharge from liability

The General Meeting resolved to adopt the balance sheet and the income statement as well as the consolidated income statement and the consolidated balance sheet for the financial year 2013.

The General Meeting resolved that no dividend will be paid for the financial year 2013 and that the accumulated debt is allocated to a new account with a transferred debt of SEK 57,368 thousand.

The General Meeting granted each of the members of the Board of Directors and the managing director discharge from liability for the financial year 2013.

Res