SOTKAMO SILVER IS IN ADVANCED DISCUSSIONS ABOUT THE FINANCING OF THE SILVER MINE
Sotkamo Silver is in advanced discussions with a large international resources financing institution and the Swedish Export Credit Agency (ECA) for a comprehensive financing package, to fund the Engineering and Process Equipment (EPC) contract with Outotec and enable the mine to reach the production start.
The discussions concerning terms and conditions are dependent on the guarantee decision of The Swedish Export Credit Agency (ECA). The discussions do not constitute a commitment or an offer to commit to any transaction or financing.
The next step is the guarantee decision of the Board of the ECA. The decisions will be taken earliest on the 23rd August.
Outotec provides leading technologies and services for the Sustainable use of Earth’s natural resources.
“After the publishing of the Technical Report, the Company is fortunate to have multiple financing discussions going on, which is a market recognition of the quality of the Sotkamo Silver’s project. We are working with several options and are in advanced discussions with the resources financing institution and ECA”, says Dr Timo Lindborg, CEO Sotkamo Silver
Stockholm August 16th, 2017
Sotkamo Silver AB (publ)
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:45 CEST on August 16th, 2017.
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507
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 with the ticker symbol SOSI TO4 in NGM Equity and SOSI1EW116 in NASDAQ OMX Helsinki.
The number of outstanding warrants are 20,643,198. 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.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi