Press release: Stockholm, March 17, 2021, 13:10 CET
The Board of Directors of Sotkamo Silver AB (publ) ("Sotkamo Silver" or the "Company") has in agreement with the holders of the Company's outstanding convertibles of series 2018/2022 (the "2018 Convertibles") resolved to amend the terms and conditions of the 2018 Convertibles, to allow early redemption of the 2018 Convertibles.
The Company and the holders of the 2018 Convertibles have reached an agreement for amendment of the terms and conditions of the 2018 Convertibles, which allows the Company to redeem all outstanding convertibles at a price corresponding to 101% of the nominal amount plus accrued interest.
The Company announced on 11 January 2022 that it investigates refinancing of financial instruments maturing in 2022. Furthermore, the Company announced on 4 March 2022, that Sotkamo Silver's wholly owned subsidiary Sotkamo Silver Oy has commenced a written procedure in order to amend the terms and conditions of its EUR 13,200,000 Senior Secured Fixed Rate Notes to enable early redemption of such notes. The amendment of the terms and conditions for the 2018 Convertibles is an additional step in the process of enabling the refinancing of financial instruments maturing in 2022.
Stockholm, March 17, 2022
Sotkamo Silver AB
Erkki Kuronen, CEO
Erkki Kuronen, CEO, tel. +358 50 599 3539
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above on March 17, 2022, at 13:10A CET.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
About Sotkamo Silver AB
Sotkamo Silver´s business concept is to develop mineral deposits with regards to human society and environment. The Company owns the Silver Mine in Sotkamo which started production in March 2019. In addition, the Company holds mining and exploration rights to precious and base metal deposits in Finland.
Sotkamo Silver applies SveMin's & FinnMin's own rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to publish 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 on NGM Main Regulated Equity in Stockholm and SOSI1 on Nasdaq Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
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