SOTKAMO SILVER: ACCORDING TO PRELIMINARY RESULTS THE PREFERENTIAL RIGHTS ISSUE HAS BEEN OVERSUBSCRIBED BY APPROXIMATELY 20 PERCENT

Press release, May7 2020, Stockholm 08:45

The subscription period for the rights issue in Sotkamo Silver AB (publ) was concluded on May 5 2020 and the preliminary outcome shows that the issue has been oversubscribed. The rights issue has been subscribed to approximately 120%, whereof approximately 80% has been subscribed for with preferential rights and approximately 40% has been subscribed for without preferential rights. The company will receive approximately SEK 62 million before issue expenses.

The rights issue was covered by subscription and guarantee commitments of up to 70%. The subscription of approximately 120% means that the guarantee commitments do not have to be utilized.

Final result of the rights issue will be announced on Monday, May 11 2020.

CONTACT

Paul Johnsson, CEO of Sotkamo Silver AB, phone +46 70 777 69 76

Sotkamo Silver AB is obliged to publish this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the above contact on May 7 2020, at 08:45 CEST.

The official stock exchange announcements are provided in Swedish, and there may be differences in the translated versions. Should there be any differences, the Swedish version takes precedence.

ADVISOR

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 Preferential Rights Issue and the Private Placement.

IMPORTANT INFORMATION

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). No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden or Finland. Any invitation to the persons concerned to subscribe for shares in Sotkamo Silver AB (publ) has only been made through the prospectus that Sotkamo Silver AB (publ) published on April 15 2020.

This press release must not be published or distributed, directly or indirectly, to or within Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland, the US, or any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 Preferential Rights Issue may not be distributed to or within any country where such distribution or Preferential 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.

   
About Sotkamo Silver AB (publ)

Sotkamo Silver’s business concept is the development and extraction of metal deposits in the Nordic region. The business is run with due regard for people and the environment. Sotkamo Silver owns mineral deposits containing silver and gold in Finland and zinc and gold in Norway. The company’s primary project is the Silvergruvan mine in the municipality of Sotkamo.

Sotkamo Silver applies SveMin’s and FinMin’s joint reporting rules for public mining and exploration companies. Sotkamo Silver has chosen to report its mineral resources in accordance with the internationally accepted JORC or NI 43 101 codes. Sotkamo Silver applies the International Financial Reporting Standards (IFRS) as well as the standards adopted by the European Union.

Sotkamo Silver’s ticker code is SOSI for NGM Equity and SOSI1 for NASDAQ Helsinki.

The ISIN number for Sotkamo Silver AB’s shares is SE0001057910.

The Legal Entity Identifier (LEI) number is: 213800R2TQW1OZGYDX93.

Find out more about Sotkamo Silver at www.silver.fi

Get in Touch

Sotkamo Silver in Sweden
Sotkamo Silver AB
Nybrogatan 34/Box 5216
SE-102 45 Stockholm

Telephone +358 50 599 3539
Sotkamo Silver in Finland
Sotkamo Silver Oy
Hopeatie 20
FI-88600 SOTKAMO

Telephone +358 44 733 2355

© 2020 Sotkamo Silver AB.