Danderyd June 1, 2020
On May 20, 2020, the Annual General Meeting of Copperstone Resources AB (below “Copperstone” or “the Company”) resolved upon an incentive program for a maximum number of for16,250,000 warrants, each warrant entitling for subscription of one new class B share in the Company. Participants in the incentive program have notified their interest in purchasing 9,150,000 warrants. The warrants have three years until maturity date and the exercise price is 0.83 SEK per class B share. The maximum dilution effect if all 9,150,000 warrants are used to subscribed for new class B shares amounts to approx. 1,4% based on the current number of shares and votes in Copperstone. For complete information on the incentive program conditions, please see the notice of the annual general meeting of 2020.
The warrants, which will be transferred from the Company’s subsidiary Argo AB, will be allocated as follows:
Michael Mattsson 3,500,000 (CEO and Director), Jörgen Olsson (Chairman) 1,500,000, Jane Lundgren Ericsson (Director) 1,250,000, Sven-Erik Bucht (Director) 1,250,000, Erik Israelsson (Director) 1,250,000 and Greg Hall 400,000.
If all 9,150,000 warrants are used for subscription of new class B shares, Copperstone will receive 7,594,500 SEK. Copperstone will initially receive SEK 777,750 from the subscribers – as a market value premium (according to independent valuation) paid for the warrants, or approx. SEK 730,000 net after legal and financial costs.
“We are grateful towards the shareholders acknowledging our hard work and providing key persons an extra motivation and incentive. I am pleased by the commitment shown by our Directors.” comments Copperstone CEO Michael Mattsson.
The information was delivered by the above-mentioned contact for publishing June 1, 2020 at 08:43 CET.
Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, email@example.com, +46 8 505 65 172. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession in the Bergslagen mining region, in central Sweden.