Sotkamo Silver AB’s wholly owned subsidiary Sotkamo Silver Oy has renegotiated the terms and conditions of its EUR 13,200,000 Senior Secured Fixed Rate Notes 2018 (ISIN:FI4000315379) (the "Notes"). A written voting procedure in accordance with the rules and conditions of the Notes on amendments has been completed today.
As a result, the noteholders have decided to:
The amendments were supported in a written voting procedure by the noteholders representing more than 80 per cent of the nominal amount of the Notes.
The approved amendments will improve the financing cash flow of Sotkamo Silver Oy in 2020.
Taaleri Kapitaali and DLA Piper Finland Attorneys Ltd acted as advisors of Sotkamo Silver in the financial transaction.
Stockholm March 26, 2020
Sotkamo Silver AB
Paul Johnsson, CEO
ABOUT SOTKAMO SILVER AB
Sotkamo Silver´s business concept is to develop mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns through its subsidiary the Silver Mine in Sotkamo which started production in March 2019 and has reached full production capacity. In addition, the Company holds exploration rights to precious and base metal deposits in Finland, Sweden and Norway.
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.Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
Read more about Sotkamo Silver on www.silver.f