NEGOTIATIONS WITH TRAXYS CONTINUES
Traxys has now substantially received all the required reports from its consultants about the Sotkamo Silver’s mine construction (the “Project”), and has reached the final stages of its due diligence. In order to complete its review, it has requested final updates and additional information about: (i) the technology Sotkamo shall employ for the processing of the ore into concentrates as well as (ii) the management team that remains to be assembled and which would be responsible for the construction of the Project and for the day to day operation of the mine.
Traxys remains interested in the Project, and once the final information requested has been received and reviewed, its Board will decide on its possible participation in the funding of the Project, materially in line with the previously agreed terms detailed in the Non Binding Term Sheet signed on 23rd January 2017.
Stockholm, 1st June 2017
Sotkamo Silver AB
Timo Lindborg, CEO
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company’s main development project is the Silver Mine project in the municipality of Sotkamo.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101 code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880. The Warrant gives the right to subscribe for one (1) share at 4 SEK in August 2017
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi.
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi .
For further information please contact Timo Lindborg, CEO on +46-8-304920.