Danderyd June 12, 2019
Divests the shareholding in NIO, receives 4.5 MSEK; retains convertibles of 7.1 MSEK
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce that it has divested its last shares of Nordic Iron Ore (“NIO”), except for an insignificant part, proceeds amounting to 4.5 MSEK net to Copperstone. Copperstone, one of the founders of NIO, will retain its convertible of 7.1 MSEK + annual interest of 5.5% June 2018 – June 2020. The first drilling campaign of Viscaria in Kiruna is getting closer and the Company now also has funds to some extent continuing the development of the Copperstone project in Arvidsjaur.
”Copperstone is mobilizing towards its first drill campaign in Kiruna, while keeping the convertible debenture in NIO, which in a best-case scenario could add considerable value to Copperstone in a few years time should NIO develop successfully. Overall, subject to a positive outcome of our rights issue, and conversions of certain debt to equity, the current net debt position of some SEK 40m by July could have become single digit; when consolidation is completed, the project developments are good to go again.”, comments CEO Michael Mattsson.
For further information, please contact CEO Michael Mattsson, +46 705 739 777, michael.mattsson@copperstone.se, info@copperstone.se or visit the Copperstone website at
www.copperstone.se
This information was submitted for publication, through the above contact person’s agency, 18:40 CEST on June 12, 2019.
About Copperstone
Copperstone is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB, info@augment.se, +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 has interests in the Bergslagen mining region, in central Sweden.
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