Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce that Norrlandsfonden has approved of a convertible debenture of 2.6 MSEK. In accordance with the existing loan agreement in connection with fund raisings, Norrlandsfonden has the right, but not obligation, to support Copperstone.
The credit facility is at Stibor 90 + 5 % with quarterly interest payments commencing from 01 April 2018. Norrlandsfonden is entitled to convert parts of, or the entirety, between 30 June 30 2019 and 30 June 2026. The conversion price shall be 2.64 SEK/share, corresponding to a 40% premium from the recent directed issue (at 1.88 SEK/share). At full conversion, Norrlandsfonden would receive 984.848 B-shares.
“The fact that Norrlandsfonden continues to support Copperstone is a welcomed decision. It provides us with further strength to continue on our promising path, and we are currently pursuing the final preparations prior to core drilling at the identified porphyry copper target in the area”, comments Copperstone CEO Chris McKnight.
For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or firstname.lastname@example.org or refer to Copperstone webpage: www.copperstone.se.
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above mentioned contact for publishing December 20, 2017 at 08:30 CET.
Copperstone Resources AB is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB. The Company is focused on base and precious metal exploration in the vicinity of the internationally-recognized mining region of the Skellefte-field in northern Sweden. The Copperstone project is situated on four contiguous exploration permits in Norrbotten County (Sandberget 100 (8074ha), Sandberget 200 (19ha), Sandberget 300 (19ha) and Svartliden 1001 (444ha). In addition the Company owns one exploitation concession within the same area, namely Svartliden k no. 1 (36ha) and an approved application for Eva k no. 1 (34ha) subject to an objection period. The Company also owns the Tvistbogruvan k no. 1 (11ha) exploitation concession in the Bergslagen mining region of central Sweden. Quoted surface areas are approximate to the nearest hectare. All exploration permits and exploitation concessions are 100% owned, either directly or through a subsidiary.
News releases, presentations and public commentary made by the Company, and its Officers, may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s Directors. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements. Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of NASDAQ First North (Stockholm) for listed companies or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may re-interpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.Source: ForexTV.com