Norrlandsfonden To Convert 1.5 MSEK Into B-Shares Of Copperstone
Published 23 October 2018
Copperstone Resources AB (“Copperstone” or “the Company”) announces that Stiftelsen Norrlandsfonden (“Norrlandsfonden”) will convert 1.5 MSEK of the September 2015 tranche, into 6,250,000 B-shares in Copperstone at a conversion price of 0.24 SEK. The transaction will result in a strengthening of the financial net and balance sheet of Copperstone. The share capital of Copperstone will increase by 625,000 SEK to 24,860,376.10 SEK. The number of outstanding shares will increase to 248,603,761, corresponding to a dilution of 2.51% (of the total 5.92% indirect ownership in Copper- stone that Norrlandsfonden currently holds).
Norrlandsfonden will, as earlier, look into and be entitled (but not obligated) to loan more as the Company raises funds, in accordance with the loan agreement. For further information, please refer to the Copperstone Annual Report 2017 (notes 15 and 16) regarding Shareholders’ Equity and Norr- landsfonden’s convertible bond portfolio.
“The exploration success at the Copperstone project would not have been possible without Norrlandsfonden. More specifically, the Granliden area has been taken from a geological exploration target in 2014/2015 all the way into mineral resources”, comments Copperstone Chairman Michael Mattsson.
For further information, please contact Michael Mattsson (Chairman) at +46 705 739 777, firstname.lastname@example.org or refer to Copperstone webpage: www.copperstone.se.
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing 23 October, 2018 at 08:50 CET.