Danderyd November 8, 2019
Copperstone strengthens its financial position by an additional 2.74 MSEK by a directed placements to two qualified investors.
The transaction structure comprise of the following:
6,231,818 shares for 2,742,000 SEK in cash, net after transaction costs of 0. Approx. 2.3 MSEK will be used to amortize debt including accrued interest.
The issue price is 0.44 SEK/share, corresponding to 9.1% discount versus the closing price November 7, 2019 on Nasdaq First North Growth Market, Stockholm.
After the transaction, the outstanding bridge loans have decreased from 6.5 MSEK to 4.5 MSEK.
The total number of new shares in the new issue is 6,231,818, which will increase the share capital by 623,181.8 SEK. The total number of shares in issue subsequent to the directed placement is 555,561,305. Dilution amounts to 1.1%.
“By this placement, Copperstone builds further on the momentum towards the potential re-development of the Viscaria mine outside Kiruna. Our balance sheet will be strengthened and our financial net will be improved. ” comments CEO Michael Mattsson.
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 November 8, 2019 at 08:35 CET.
Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, firstname.lastname@example.org, +46 8 505 65 172. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession in the Bergslagen mining region, in central Sweden.