Norrlandsfonden supports Copperstone Resources with funds
Kiruna May 18, 2022
Norrlandsfonden will invest further MSEK 5.5 in a convertible debenture in Copperstone Resources AB (“Copperstone” or “the Company”). 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 facilities are agreed at Stibor 90 + 5 percent annually, with quarterly interest payments. Norrlandsfonden is entitled to convert parts of the, or the entire, amount until April 30, 2027. The conversion prices shall be 1.54 SEK/share, corresponding to a 40 percent premium from the volume weighted average of the recent directed equity issues at approximately 1.1 SEK per share.
At full conversion of the debenture, Norrlandsfonden would receive 3,571,428 shares of Copperstone, corresponding to a dilution of 0.3%.
“We are very pleased and proud that Norrlandsfonden once again has decided to support Copperstone. The increased working capital comes in very handy now that also the infrastructure investment phase is approaching”, comments Copperstone CEO Anna Tyni.
For further information, please contact Anna Tyni (CEO) anna.tyni@copperstone.se, info@copperstone.se or refer to Copperstone webpage: www.copperstone.se.
The information was delivered by the above mentioned contact for publishing May 18, 2022 at 07:15 CET.
ABOUT COPPERSTONE
Copperstone Resources AB is a company now scaling up to become a modern and responsibly producing mining company through the reopening of the Viscaria mine in Kiruna, Sweden. The deposit’s high copper grade assessed mineral resources, geographical location and growing team of experts provides good opportunities to become a key supplier of quality and responsibly produced copper – a metal that plays a critical role in Sweden’s and Europe’s climate change towards an electrified society. In addition to the Viscaria mine, Copperstone holds a number of other exploitation concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan), all in Sweden. The parent company’s shares are traded on the Nasdaq First North Growth Market (ticker COPP B). Augment Partners is the company’s Certified Adviser, info@augment.se, +46 8 604 22 55.
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