The Arctic Gold board has decided to conduct a private placement of 3 000 000 shares to a limited number of investors. The placement is priced at SEK 3.5 per share and will raise SEK 10.5m to the company before costs.
The placement is addressed to a number of private investors including Lennart Schönning, Tord Cederlund and Dr. Markus Elsasser, an investor with extensive experience from investing in mining companies.
The purpose of the placement is to finance the continued development of Arctic Gold´s mining project in Bidjovagge, Norway. Through the placement Arctic Gold is added a number of long term investors with experience from similar companies who can help to further develop Arctic Gold.
The private placement was decided by the board with authorization from the annual meeting that took place on May 10th, 2011. After the private placement the number of shares in the company will amount to 10 778 986 and the share capital to SEK 21 557 972.
Redeye has been the financial advisor for Arctic Gold in connection to the placement.
For more information, contact:
Richard Goldman, Head of Corporate Finance
+46 761 84 11 11
Redeye AB is a specialist investment banking boutique that focuses on small and mid-cap growth companies in the Nordic region. We focus on the IT, life sciences, media, betting, clean tech and commodities sectors. We provide services within Corporate Broking, Corporate Finance, equity research, investor relations and media services. Our strengths are our award-winning research and analysis department, experienced advisers, a unique investor network, and powerful distribution channel redeye.se. Redeye was founded in 1999 and since 2007 has been subject to the supervision of the Swedish Financial Supervisory Authority.
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