The Board of Copperstone Resources AB (“Copperstone” or “the Company”) has decided to use all subscription rights in the on-going Rights Issue in Nordic Iron Ore AB (“NIO”), where Copperstone holds an ownership of almost nine (9) percent. The Company will hereby at least maintain its ownership. The investment amounts to approx. 1.6 MSEK. In the Board’s view, NIO is a very robust project.
”We are glad to have the possibility to continue to support NIO and secure our ownership- and lender interest as we see this as a major and growing financial asset NIO (debenture of currently 14.4 MSEK) is an interesting mine project, which in comparison to similar companies appears to be attractively priced. Our assessment is unchanged and we are convinced that NIO is significantly undervalued and that the true value will be realised in the upcoming years and that this will become clear through the expected initial public offering of NIO.” comments Copperstone CEO Per Storm.
For further information, please contact Per Storm, CEO Copperstone, +46 705 94 90 24, e-mail: firstname.lastname@example.org or 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 February 13th 2017 at 0820 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.