Copperstone Resources receives proceeds of approximately MSEK 170 through an oversubscribed rights issue and through a decided overallotment issue

PRESS RELEASE                                                                                                                                                  Kiruna on 28 January 2021

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, JAPAN, CANADA, SOUTH AFRICA, NEW ZEALAND, SINGAPORE HONG KONG, SWITZERLAND OR ANY OTHER JURISDICTION WHERE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE ILLEGAL OR REQUIRE FURTHER REGISTRATION OR OTHER MEASURES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES OF COPPERSTONE RESOURCES AB (PUBL). PLEASE REFER TO THE SECTION “IMPORTANT INFORMATION” BELOW.

On January 25, 2021, the subscription period in Copperstone Resources AB (publ) (“Copperstone” or “the Company”) ended. The result shows that a total of 519,829,385 shares have been subscribed for in the rights issue with a total value of approximately MSEK 260, which corresponds to approximately 162 percent of the rights issue of 320,637,851 shares. 307,651,296 shares have been subscribed for with the support of subscription rights, which corresponds to approximately 96 percent of the rights issue. In addition, the Company has received subscriptions for 212,178,089 shares without the support of subscription rights, which corresponds to approximately 66 percent of the rights issue. The rights issue is thus oversubscribed. Due to the high subscription rate, the Company has decided on the overallotment issue of MSEK 10.3 to the Company's Chairman Jörgen Olsson via JOHECO AB, who in connection with the rights issue entered into an agreement on an interest free bridge loan of the same amount in order for Copperstone to maintain momentum in project development. Through the rights issue and the overallotment issue, the Company will receive approximately SEK 170 million before issue costs of approximately MSEK 7.