Copperstone Resources AB: Loan holders engaged in an offset issue of SEK 4,06m to shares

Copperstone Resources AB (below ”Copperstone” or ”the Company”) hereby announces that a majority of the Company’s loan holders (according to Loan agreements August and October 2016) have set off their claims in an issue for shares in Copperstone. The offset issue is made in accordance with the Annual General Meeting’s authorisations as per May 19, 2016. In total, approximately SEK 4,06m (incl. accrued interest) to a price of SEK 0.477 per share. The price corresponds to a premium versus the closing price Monday October 17, 2016 of 12.2% and a discount versus the closing price Monday October 24, 2016 of 6.5%.

The Board has today, October 25, 2016, decided on an offset issue of approx. 8.518.000 shares, corresponding to a dilution of approx. 5.02%. The total number of shares in Copperstone after the offset issue amounts to approx. 169.777.000.

”The Company has during the last couple of weeks been approached by loan holders regarding the possibility to convert loans into shares. The Board has yesterday evening contacted all loan holders that provided Copperstone with financing during August and October 2016 in order to offer them to offset loans to shares according to the above. We are pleased by the strong respons and the continued confidence that our loan holders show. This will result in a further improved balance sheet and that the financial costs decrease”, comments CEO Per Storm.

For further information, please refer to Copperstone Resources webpage : www.copperstone.se, or contact Per Storm, CEO Copperstone Resources AB, 0705–94 90 24, e-mail: per.storm@copperstone.se.

 

Copperstone Resources AB (publ) is an exploration company focusing on the Copperstone project in the vicinity of the Skellefte field. This project has the potential to become one of the biggest base- and precious metal deposits in the Nordic Region.

Copperstone Resources has thirteen exploration tenements covering c:a 11 360 hectare and two mining concession and one applied concession covering a total of 82 hectare.

G&W Fondkommission is the Certified Adviser for Copperstone Resources AB.

 

 

 

 

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