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Dannemora Mineral AB Dannemora Mineral completes private placement
Dannemora Mineral has completed a private placement in which a total of 3,100,000 shares were subscribed for at an issue price of SEK 50
Exercising the mandate it was granted at the EGM held on 24 June 2008, the Board of Dannemora Mineral AB (publ) made the decision to issue new shares. The purpose of the new share issue is to finance the pumping of the iron ore mine in Dannemora and other time-critical installation work. The reason for implementing the share issue without preferential rights for shareholders is to broaden the company's ownership.
A total of 3,100,000 class B shares were subscribed for. The issue price was set at SEK 50, which will bring the Company SEK 155 million before issue expenses. Following the new share issue, the number of shares amounts to 7,760,000, of which the new shares correspond to 39.9 percent of the capital and 16.7 percent of the votes.
In conjunction with the share issue, some Board members will lend B shares to facilitate the implementation of the issue. The directors lending shares are Nils Bernhard (250,000 B shares - own and family), Lennart Falk (250,000 B shares) and Nils Sandstedt (100,000 B shares). These shares will be returned when the new share issue is registered by the Swedish Companies Registration Office.
E. Öhman J:or Fondkommission AB has acted as financial advisor for the share issue.
For further information, please contact:
Staffan Bennerdt, Group President Telephone 0295- 24 44 22 staffan.bennerdt@dannemoramineral.se
Dannemora Mineral AB is a mining and exploration company, with the main goal to recommence operations in the Dannemora iron ore mine. The Company also engages in exploration activities to increase the iron ore base locally and regionally, and to explore base and precious metals in several areas in Uppland where the potential for finding mineable deposits is considered good.
Dannemora Mineral consists of the parent company Dannemora Mineral AB and the wholly-owned subsidiaries Dannemora Magnetit AB, responsible for the operations of the Dannemora iron ore mine, Dannemora Prospektering AB, responsible for all exploration, and Dannemora Förvaltnings AB, responsible for the property portfolio.
The Company's most important asset is the iron ore deposit at Dannemora, and activities will initially focus mainly on the planned mining of this deposit.
The Company's Certified Advisor on First North is E. Öhman J:or Fondkommission AB.
