Danderyd October 2, 2019
Norrlandsfonden will invest 2 MSEK in a convertible debenture in Copperstone with eight years to maturity. In accordance with the existing loan agreement in connection with fund raisings, Norrlandsfonden has the right, but not obligation, to invest in Copperstone.
The credit facility is at Stibor 90 + 5 % annual interest with quarterly interest payments commencing from March 31, 2020. Norrlandsfonden is entitled to convert parts of, or the entirety, up and until maturity December 31, 2027. The conversion price shall be 0.60 SEK/share, corresponding to a 54% premium from the recent directed issue and a 30% premium from the rights issue price in June 2019. At full conversion, Norrlandsfonden would receive 3,333,333 B-shares.
“We are glad to continue our fruitful co-operation with Norrlandsfonden to develop the mining operations in the region. This is the fourth Norrlandsfonden investment. This time around it secures momentum in the Viscaria drill program and will also ease the recruitment processes at hand.”, comments Copperstone CEO Michael Mattsson.
For further information, please contact Michael Mattsson (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 October 2, 2019 at 21:20 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, email@example.com, +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.