Published 16 October 2017
COPPERSTONE RESOURCES AB: COMPLETES DIRECTED ISSUE OF 30 MILLION SEK TO SHB FONDER AND OTHERS
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce that the Board of Directors have decided on 13 October 2017 to issue 15.957.447 class B-shares to a small group of qualified investors for a total consideration of 30 million SEK, before transaction costs amounting to approx. 0.9 million SEK. The subscription price is 1,88 SEK per share corresponding to a discount of approximately 7,4 % to the closing price of 13 October 2017, and a discount of approximately 9.7% based on a 10 days average closing price prior to the transaction. The Company’s total outstanding shares have increased from 226,396,314 shares to 242,353,761 shares. The directed issue is executed with authorization from the Annual General Meeting of May 16, 2017 and corresponds to a dilution of 6,58% of the total number of shares outstanding in Copperstone.
The new shares will be subscribed for by the following investors:
|Investor||msek||Amount of B-shares|
|Feat Invest AB||0.75||398,936|
Erik Penser Bank has been the Company’s financial advisor and Advokatfirman Lindahl has been the legal advisor in connection to this transaction.
”It is an honour to welcome such well-renowned investors and to manage this Company that is clearly and steadily moving forward. The proceeds from this investment will be used predominantly for exploration of porphyry copper mineralisation at our Copperstone project area. More specifically, we will direct the investment for core drilling of our geophysical targets that the Company is currently developing. The NSAMT (Natural Source Audio-frequency Magnetotellurics) system has a strong track record internationally when it comes to discovering porphyry copper mineralisation. According to our knowledge, this is probably the first time this technique has been applied for exploration of porphyry-style mineralisation in Sweden.” comments Chris McKnight, CEO for Copperstone.
For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or 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 16 October, 2017 at 08:40 CET.
Copperstone Resources AB is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB. The Company is focused on base and precious metal exploration in the vicinity of the internationally-recognized mining region of the Skellefte-field in northern Sweden. The Copperstone project is situated on four contiguous exploration permits in Norrbotten County (Sandberget 100 (8074ha), Sandberget 200 (19ha), Sandberget 300 (19ha) and Svartliden 1001 (444ha). In addition the Company owns one exploitation concession within the same area, namely Svartliden k no. 1 (36ha) and one mining concession application, namely Eva k no. 1 (34ha). The Company also owns the Tvistbogruvan k no. 1 (11ha) exploitation concession in the Bergslagen mining region of central Sweden. Quoted surface areas are approximate to the nearest hectare. All exploration permits and exploitation concessions are 100% owned, either directly or through a subsidiary.