Press release Stockholm 15 April 2020, 14.30
The board of Sotkamo Silver AB (publ) (“Sotkamo Silver” or “the Company”) has prepared a prospectus for the forthcoming issue of new shares with preferential rights for existing shareholders of approximately SEK 60 million (“Rights Issue”). The prospectus has today been approved by and registered with the Swedish Financial Supervisory Authority. The Rights Issue is secured by way of subscription and guarantee commitments amounting to around 70 percent of the initial issue volume.
As previously communicated, supported by the authorisation of the annual general meeting on 11 April 2019, the board of Sotkamo Silver has also agreed on a directed issue of warrants which could bring in approximately an additional SEK 22 million to the Company. The issue of warrants will be directed to the Company, which in turn transfers the warrants for no consideration to those who have been allocated shares in the Rights Issue (“Warrant Issue”).
SUMMARY OF THE RIGHTS ISSUE
The prospectus will be available on Sotkamo Silver’s website www.silver.fi, the Swedish Financial Supervisory Authority’s website www.fi.se, Stockholm Corporate Finance AB’s website www.stockholmcorp.se, and on Hagberg & Aneborn Fondkommission AB’s website www.hagberganeborn.se.
For more information about the Rights Issue, please refer to the published prospectus.
SUMMARY OF THE WARRANT ISSUE
Stockholm Corporate Finance is the financial advisor. A1 Advokater and Advokatfirman Schjødt are the legal advisors to Sotkamo Silver. Hagberg & Aneborn Fondkommission and Evli Bank are the issuing institutes in the Rights Issue and the Warrant Issue.
Paul Johnsson, CEO of Sotkamo Silver AB, tel. +46 70 777 6976
The information was submitted for publication, through the agency of the contact persons set out above on April 15, 2020, at 14.30 CET.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions. Should there be any differences, the Swedish version takes precedence.
This press release does not constitute an offer to acquire, subscribe to, or otherwise trade in shares, warrants, subscription rights, paid subscription shares, or other securities in Sotkamo Silver AB (publ). Investors must subscribe to or acquire securities only on the basis of the information in the prospectus, which will be published before the start of the subscription period for the Rights Issue around 15 April 2020. Within the European Economic Area, no public offer is made in any country other than Sweden or Finland.
This press release must not be published or distributed, directly or indirectly, to or within Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland, the US, or any other jurisdiction where the distribution of this press release is against the law. Similarly, this press release does not constitute an offer to sell new shares, warrants, paid subscription shares, subscription rights, or other securities to anyone in a jurisdiction where it is not allowed to make such an offer to such a person, or where such action would require an additional prospectus, registration, or measures other than those required under Swedish law. The prospectus, registration slip, and other documents attributable to the Rights Issue may not be distributed to or within any country where such distribution or Rights Issue requires measures as stated in the preceding sentence, or where this would contravene the law of that country.
No shares, warrants, subscription rights, paid subscription shares, or other securities have been registered or will be registered pursuant to the 1933 United States Securities Act in its current version (“the Securities Act”) or securities legislation in any state or other jurisdiction of the US, and may not be offered, subscribed to, utilised, pledged, sold, resold, granted, supplied, or otherwise transferred, directly or indirectly, to or within the US, except in accordance with any applicable exemption from or by way of a transaction that is not covered by the registration requirements of the Securities Act and in accordance with the securities legislation in the relevant state or other jurisdiction of the US.
This press release contains some forward-looking information that reflects the Company’s current view of future events and financial and operational development. Words such as “intended”, “will”, “believed”, “assessed”, “expected”, “planned”, “estimated”, and other expressions that imply indications or predictions of future developments or trends constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking information does not constitute a guarantee of future results or developments. Actual results may differ substantially from what is stated in this forward-looking information. This information, these opinions, and the forward-looking statements contained in this press release are valid only on this date and are subject to change without notice.