COPPERSTONE RESOURCES: RIGHTS ISSUE OF 23 MSEK, SECURED TO 80 %

The Board of Copperstone Resources AB (publ) (“Copperstone” or “the Company”) has decided to carry out a rights issue of approx. 23 MSEK to the current shareholders. The issue is carried out according to the authorization to the Board by the Annual Meeting held May 19th 2016. Avanza Bank is the financial advisor to the Company in conjunction with the capital injection.

The rights issue is carried out in order to advance the development of the potentially substantial Copperstone project and also to enable strategic initiatives.

A consortium of guarantors, together with subscription commitments of 1,5 MSEK, has guaranteed to subscribe up to 80 % or approx. 18,5 MSEK of the rights issue. The subscription ratio will be one (1) new share for three (3) old. The subscription price is set to 0.41 SEK per share, which corresponds to approx. 25% discount versus the volume weighted average share price on the stock market 14-day period up and until January 25th 2017.

“It is satisfying that we can continue the project development with full speed without delays. This rights issue will result in the commencement of deep core drilling at Svartliden/Eva, the continued development of the Granliden area, and also preparations for strategic initiatives.”, comments Copperstone CEO Per Storm.

 

TERMS

Rights issue of approx. 23 MSEK, with preferential rights to the shareholders of the Company. The issue contains subscription of shares in Copperstone.

Subscription to share with preferential rights shall be carried out from February 8th 2017 to February 23rd 2017.

The offer contains a rights issue where current share holders obtain rights based on current share holdings. Subscription without preferential rights is also possible. Terms for subscription with preferential rights: each three (3) current shares, independent of class of shares, yield the right to subscribe to one (1) new share. Subscription price: 0.41 SEK/share. Each share will yield one subscription right. Three (3) rights are needed to subscribe to one (1) new share.

 

PRELIMINARY SCHEDULE

  • Last date for trading including preferential rights: February 2nd 2017
  • Record date: February 6th 2017
  • Subscription period: February 8th to February 23rd 2017
  • Trading with subscription rights: February 8th to February 21st 2017
  • Payment date: On or about March 3rd 2017
  • Preliminary date for publishing outcome of the rights issue: February 27th 2017

 

SUBSCRIPTION COMMITMENTS AND GUARANTEE CONSORTIUM

A consortium of guarantors have, together with subscription commitments of 1,5 MSEK, committed to subscribe up to 80 % or approx. 18,5 MSEK of the issue in case the issue is not subscribed to this level with or without subscription rights.

 

FINACIAL ADVISOR

Avanza Bank is the financial advisor to Copperstone in the issue. Avanza Bank is the clearing agent in the rights issue.

 

For further information, please contact Per Storm, CEO Copperstone, +46 705 94 90 24, e-mail: per.storm@copperstone.se eller refer to Copperstone Resources webpage: www.copperstone.se.

 This press release contains insider information which Copperstone Resources AB is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing January 30, 2017 at 08.00 CET.

Copperstone Resources AB (publ) is a mining 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 eight exploration tenements covering approx. 9260 acres and two mining concessions and one applied concession covering a total of 82 acres.

The share (COPP B) of the Company is traded on Nasdaq First North Stockholm with G&W Fondkommission as the Certified Adviser.

 

 

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