Press release: Stockholm, October 7, 2022 11:05 CET.
The change negotiations initiated on September 5, 2022 have been ended. The change negotiations were started to adapt the operations to the prevailing general economic and market situation. The negotiations concerned the Company’s all personnel groups in Finland covering ca. 50 people. The change negotiations were conducted in a good spirit of cooperation.
During the change negotiations it was agreed to operate the plant periodically, if the Company sees it reasonable due to e.g. unusually high electricity prices. Additionally, the Company has started a program aimed at improving the cost-effectiveness of its operations.
Layoffs will be implemented if the Company’s financial or production situation so requires, and their maximum duration will be 90 days per person. Layoffs can be implemented between October 2022 and the end of April 2023.
Stockholm, October 7, 2022
Sotkamo Silver AB
Mikko Jalasto, CEO
Mikko Jalasto, CEO, tel. +358 50 482 1689
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 October 7, 2022, at 11:05 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.
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