Nordic Mines publishes its 2014 Annual Report and an update regarding funding

The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail. This is not a legal document.

PRESS RELEASE 26 May 2015

The 2014 Annual Report for Nordic Mines AB (publ) is now available at the Swedish company's website, www.nordicmines.com. The Annual Report is only available in Swedish.

 

Update regarding funding

During 2015, as previously communicated, Nordic Mines has evaluated several different alternatives for strengthening its liquidity in conjunction with a restart of the Laiva mine. The Company currently has made the assessment that an additional EUR 7 million in working capital is needed for the mine to be self-funding. In addition, EUR 3 million will be needed for seasonal investments and EUR 2 million for a liquidity reserve. In total, there is an additional capital need of EUR 12 million in order to restart operations at the Laiva mine in a reliable manner. Liquidity-strengthening measures can include, for example, the pre-sale of gold production and gold deliveries, renegotiation of supplier terms, other types of bridge financing for working capital, a share issue or collaborations with strategic or financial partners.

For further information, please contact:
Eva Kaijser, MD, [phone]
Jonatan Forsberg, CFO, [phone]

For more information about Nordic Mines, please visit www.nordicmines.se.

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was published on 26 May 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold was produced during the years 2011 and 2014 at the Laiva mine in Finland. The deposit is among the largest in the Nordic region. Nordic Mines is a member of Svemin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share has been admitted for trading on the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.

Nordic Mines Annual Report 2014 (Swedish)

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via Globenewswire

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