Copperstone explores the conditions for carrying out a directed
issue of shares
This press release may not be made public, published or
distributed, directly or indirectly, within or to the United
States, Australia, Hong Kong, Japan, Canada, New Zealand,
Switzerland, Singapore, South Africa or any other jurisdiction
where such action would be unlawful or subject to legal
restrictions.
Press release
Kiruna 20 October 2022
The board of directors of
Copperstone Resources AB
(publ)
(“Copperstone” or
the “Company”) has
decided to
explore the conditions for carrying out a
directed issue of shares
of more than SEK
200
million (the
”Directed Share Issue”).
Thomas von Koch and Jan Ståhlberg
wish to subscribe for shares corresponding to
a total of SEK 150 million to market
value, as well as wish to appoint
a member to the board of directors.
Copperstone announces the intention to carry out a directed
issue of shares of more than SEK 200 million directed to qualified
investors, with deviation from existing shareholders’ preferential
rights and in accordance with the issue authorisation granted by
the annual general meeting on 18 May 2022. Thomas von Koch, who
invested approximately SEK 81 million1 in March 2022, and Jan
Ståhlberg, in capacity of new investor, have expressed an interest
to subscribe corresponding to a total of approximately SEK 150
million to market value, and wish to appoint a member to the board
of directors. Copperstone has appointed Arctic Securities AS,
filial Sverige to investigate the conditions for carrying out the
Directed Share Issue, which will commence immediately.
Copperstone is in an intense phase and, in accordance with
previous communication, a larger procurement of capital will be
made in connection with obtained environmental permit. Ahead of
future procurement of capital, the Company’s board of directors
consider it of immense importance to have long-term and financially
strong shareholders.
In the light of this, the Company’s board of directors consider
the Directed Share Issue as a means to bring in more long-term and
financially strong shareholders in the Company, who are also deemed
to have the financial possibility to support the Company with
capital in future capitalisations. Also such owners with minor
holdings today have been given the opportunity to increase their
share. In order to support the board of directors’ outlook further,
representatives of the Company have sounded the interest of a
number of existing shareholders regarding if they would have
preferred a rights issue or a directed issue of shares at this
stage. An overwhelming majority held the view that a directed issue
of shares was preferable, partly because of the high and presumably
increasing uncertainty during the last months on both the stock
market and the financing markets in general. The already critical
preparations prior to the environmental permit before mine opening
could be seriously damaged by unnecessary financial uncertainty in
the Company during the coming quarters. The overall assessment of
the board of directors is that the reasons for carrying out the
Directed Share Issue in this way, and thereby, inter alia, secure
Thomas von Koch’s increased, and Jan Ståhlberg’s new, commitment in
the Company, strongly outweigh the reasons that justify the main
rule, to issue shares with preferential rights for existing
shareholders. The board thus assesses that an issue of shares
deviating from the shareholders’ preferential rights is in the
Company’s and all shareholders’ interest.
The subscription price for the new shares in the Directed Share
Issue is intended to be determined through a so-called accelerated
book building procedure to the volume-weighted average price during
20 October 2022, which amounted to a price of SEK 1.15.
The Directed Share Issue requires that the board of directors of
Copperstone resolves to issue new shares, which, alongside pricing
and allocation, is expected to occur prior to the commencement of
trading on Nasdaq First North Growth Market on 21 October 2022. The
board of directors may at any time choose to cancel, close earlier
or prolong the procedure, as well as refrain from executing the
Directed Share Issue, in part or in full.
The Company intends to use the net proceeds from the Directed
Share Issue to accelerate further investments and core drillings
before an approval of the environmental permit application, in
order for the Company to be well prepared before a re-opening of
the Viscaria mine in Kiruna. A prioritised investment area is core
drilling in the Viscaria area, with the purpose to secure and
increase the mineral assets.
AdvisorsArctic Securities AS, filial Sverige is
financial advisor and Hannes Snellman Attorneys Ltd is legal
advisor to Copperstone.
For further information, please contactChairman
of the board Jörgen Olsson on +46 (0) 703 – 420 570E-mail:
jorgen.olsson@copperstone.se
info@copperstone.se or www.copperstone.se
This press release includes inside information which Copperstone
Resources AB (publ) is obliged to make public pursuant to the EU
Market Abuse Regulation. This information was submitted for
publication, through the agency of the contact person set out
above, on 20 October 2022 at 18:45 CEST.
Important InformationThis press release does
not constitute an offer to, or an invitation to, acquire or
subscribe for any securities in Copperstone Resources AB (publ) in
any jurisdiction, neither from Copperstone Resources AB (publ),
Arctic Securities AS, filial Sverige or anyone else. Copies of this
press release will not be produced and may not be distributed or
sent to the United States, Australia, Hong Kong, Japan, Canada, New
Zealand, Switzerland, Singapore, South Africa or any other
jurisdiction where such distribution would be illegal or require
registration or other action. The recipient of this press release
is responsible for using this press release and the information
herein in accordance with applicable rules in each
jurisdiction.
This press release is not a prospectus for the purposes of
Regulation (EU) 2017/1129 (the “Prospectus
Regulation“) and has not been approved by any
regulatory authority in any jurisdiction. Copperstone has not
authorized any offer to the public of shares or other securities in
any member state of the EEA and no prospectus has been or will be
prepared in connection with the Directed Issue. In any EEA Member
State, this communication is only addressed to and is directed at
qualified investors and corresponding investors in that Member
State within the meaning of the Prospectus Regulation.
This press release and the information contained in the press
release may not be distributed in or to the United States. This
press release does not constitute an offer to acquire securities in
the United States. Securities referred to herein have not been
registered and will not be registered in accordance with the US
Securities Act of 1933 (the “Securities Act”), and
may not be offered or sold in the United States without being
registered, subject to an exception to, or refers to a transaction
that is not subject to registration under the Securities Act. No
offer will be made to the public in the United States to acquire
the securities mentioned here.
About CopperstoneCopperstone
Resources AB is a company now scaling up to become a modern and
responsibly producing mining company through the reopening of the
Viscaria mine in Kiruna, Sweden. The deposit’s high copper grade
assessed mineral resources, geographical location and growing team
of experts provides good opportunities to become a key supplier of
quality and responsibly produced copper – a metal that plays a
critical role in Sweden’s and Europe’s climate change towards an
electrified society. In addition to the Viscaria mine, Copperstone
holds a number of other exploitation concessions and exploration
permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken
(Tvistbogruvan), all in Sweden. The parent company’s shares are
traded on the Nasdaq First North Growth Market (ticker COPP B).
Augment Partners is the company’s Certified Adviser,
info@augment.se, +46 8 604 22 55.
1 Together with his business partner Christian Kinch,
corresponding to approximately 71 million shares to the current
market value at that time of SEK 1.14 per share, or in total 5.4
percent of the Company’s capital, by way of a directed issue of
shares.
- Press release (Eng) 2022-10-20 final
Gruvaktiebolaget Viscaria (LSE:0G3L)
Historical Stock Chart
From Jan 2025 to Feb 2025
Gruvaktiebolaget Viscaria (LSE:0G3L)
Historical Stock Chart
From Feb 2024 to Feb 2025
