NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
"We have achieved a lot during this year. Our Company has a clear strategy and related objectives. The cornerstone of our strategy is the gold production in Pampalo and the gold deposits surrounding the area. Our financial situation is stable, our organization is strong, our production volume is growing, and our result has improved significantly.
We are now seeking funding especially for the implementation of our growth strategy. This is connected to the long-term exploitation at the Karelian Gold Line and the possibility to take a leap as a company to a larger scale. The area has a great deal of potential which is based on concrete research already conducted as well as on verified prospects. Our intention is to do responsible, stable growth business that takes into account our impact on the environment and people.
In addition to the upcoming Offering, we have decided to move our domicile from
Information on the contemplated Offering
The Offering would consist of approximately
- A public offering of new shares to private individuals and entities in
Finland andSweden . -
An offering of new shares to institutional investors in the European Economic Area and in the
United Kingdom . The subscription price can be paid at the investor's choice either in cash or by setting off the nominal amount of a receivable payable thereto by the Company based on the Convertible Loans with accumulated interest and potentially unpaid loan premiums. -
In the event that the Offering is oversubscribed, the Board of Directors of the Company can increase the size of the Offering by a maximum of
EUR 5 million . In the event of overallotment, the Board of Directors of the Company has the right to, before other subscribed subscribers, allocate new shares toEndomines AB (publ) ("Endomines AB ", and jointly withEndomines Finland Plc , "Endomines ") shareholders who have made a subscription. - Together with the Offering, a personnel offering of new shares to permanent employees of Endomines Finland as well as members of the Endomines Finland Management Team and Board of Directors.
During
The Offering will be executed in connection with the contemplated merger and is conditional upon the implementation of the merger of the parent company
On
- Over 1 million oz gold mineralization defined on the Karelian Gold Line by the end of 2025;
- Annual gold production level of 20,000 oz at Pampalo by the end of 2024;
- Operational efficiency and profitability are at a good level compared to peer companies;
-
Partnership agreement for the
USA operations agreed by the end of 2023; and - Among the leading mining companies in the field of ESG.
The strengths of
- High potential to locate over 1 million oz gold mineralization on the Karelian Gold Line
-
Renewed strategy with focus on responsible gold production in
Finland and a shift to a collaboration model inthe United States - Unused capacity at the at the Pampalo beneficiation plant allows for the expansion of operations to the other known gold deposits on the Karelian Gold Line
- New Management Team with extensive experience in mining and the strong support of committed shareholders
- Responsible production process and the ambition to be among the leading mining companies in ESG matters
- Steady demand for gold and possibility of selling the Pampalo gold directly to consumers
Redomiciliation to
On
The merger will not have effect on the business activities, assets, liabilities and employees of
The schedule for the Offering
The Company intends to publish a prospectus for the Offering on or about
Advisors
For further information, please contact:
About
IMPORTANT INFORMATION
Neither this release nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into
The issue, exercise and/or sale of securities are subject to specific legal or regulatory restrictions in certain jurisdictions. The Company or ACF assume no responsibility in the event there is a violation by any person of such restrictions.
The information contained herein shall not constitute an offer to sell or a solicitation of an offer to purchase or subscribe, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by the Company.
The Company has not authorized any offer to the public of securities in the
This communication is directed only at (i) persons who are outside the
Full terms, conditions and instructions for the contemplated offering will be included in the prospectus that will be prepared by the Company in connection with the contemplated offering. The Finnish prospectus and its unofficial English translation will be published on the website of the Company at endomines.com.
An investor is advised to read the prospectus before making an investment decision to fully understand the risks and rewards associated with the investment. The approval by the
FORWARD-LOOKING STATEMENTS
Certain statements in this release are "forward-looking statements." Forward-looking statements include statements concerning plans, assumptions, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, the Company's competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, its business strategy and the anticipated trends in the industry and the political and legal environment in which it operates and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms "believes," "intends," "may," "will" or "should" or, in each case, their negative or variations on comparable terminology.
Forward-looking statements in this release are based on assumptions. Forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and the risk exists that the predictions, forecasts, projections, plans and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release. Save as required by law, the Company does not intend to, and does not assume any obligation to, update or correct any forward-looking statement contained in this release.
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