Press Releases

Vilhelmina Mineral announces outcome of preferential rights issue

Through the rights issue (the "Rights Issue"), Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company") will receive proceeds amounting to approximately SEK 22 million before deduction of costs related to the Rights Issue. 1,628,430 shares, corresponding to approximately 14.7 percent of the shares in the Rights Issue, were subscribed for by the exercise of subscription rights (including subscription undertakings) and 1,478,793 shares, corresponding to approximately 13.4 percent of the shares in the Rights Issue, were subscribed for without subscription rights. In addition, 7,941,387 shares, corresponding to approximately 71.9 percent of the shares in the Rights Issue were subscribed for by guarantors.

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND, SINGAPORE, THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, RELEASE OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Outcome of the Rights Issue

The Rights Issue comprised a maximum of 11,048,610 new shares, of which 1,628,430 shares, corresponding to approximately 14.7 percent of the shares in the Rights Issue, have been subscribed for by exercise of subscription rights. A total of 1,478,793 shares have been subscribed for without exercise of subscription rights, corresponding to approximately 13.4 percent of the shares in the Rights Issue. In total, 3,107,223 shares, corresponding to approximately 28.1 percent of the shares in the Rights Issue, have been subscribed for with and without exercise of subscription rights. In addition, 7,941,387shares, corresponding to approximately 71.9 percent of the Right Issue, have been allocated to those who have undertaken to subscribe for part of the Rights Issue in accordance with the guarantee agreements concluded with the Company.

Notification regarding allocation

Allocation of shares has been made in accordance with the allocation principles described in the information memorandum that has been prepared in connection with the Rights Issue. A notification regarding allocation of shares subscribed for without subscription rights will be made by post of a contract note to each subscriber. Allocated shares subscribed for without subscription rights shall be paid in accordance with the instructions in the contract note. No notification will be sent to those who have not received an allocation.

Number of shares, share capital and dilution

Through the Rights Issue, Vilhelmina Mineral's share capital is increased by SEK 1,104,861 by the issuance of 11,048,610 shares. Given the current share capital of SEK 1,657,291.6, Vilhelmina Mineral's share capital will thus amount to SEK 2,762,152.6 and the total number of shares will increase from 16,572,916 shares to 27,621,526 shares, once the Rights Issue has been registered with the Swedish Companies Registration Office (Sw.: Bolagsverket). For existing shareholders who did not subscribe for their pro rata share of the Rights Issue, a dilution effect will occur corresponding to approximately 40 percent of the total number of shares in the Company following the Rights Issue.

Through the previously communicated set-off issue of SEK 911,772 (the "Set-Off Issue"), which has not yet been registered with the Swedish Companies Registration Office, Vilhelmina Mineral's share capital will increase by an additional SEK 45,588.6 through the issuance of 455,886 shares. This means that the Company's share capital after the Rights Issue and the Set-Off Issue will amount to SEK 2,807,741.2. Following the Rights Issue and the Set-Off Issue, the total number of shares in Vilhelmina Mineral will amount to 28,077,412 shares. The combined dilution effect of the Rights Issue and the Set-Off Issue corresponds to approximately 41 percent.

Stockholm May 2020

Vilhelmina Mineral AB (publ)

The Board of Directors

 

Publication of information

This information is insider information that Vilhelmina Mineral AB (publ) is required to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication on May 5, 2020 at 17.00 CET, by the contact person below.

Additional information

Information on the Rights Issue is available on the company's website: www.vilhelminamineral.com/sv/

For additional information, please contact:

Peter Hjorth, Managing Director, Vilhelmina Mineral AB (publ), phone +46-725 38 25 25

Email: info@vilhelminamineral.com 

Vilhelmina Mineral ("the Company") is a junior resource company with focus on copper and zinc projects in the Nordic countries. In Sweden the company owns the Stekenjokk project in which approximately 7 million tons were produced between 1976 and 1988. According to estimates there are remaining indicated mineral resources of 7.4 million tons with grades of 1.17% Cu, 3.01% Zn and 47 g/ton Ag (cut-off 0.9% Cu). In Norway, Vilhelmina Mineral is co-owner in the Joma field in which some 11.5 million tons were previously produced between 1972 and 1998 with average grades of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is estimated to hold approximately 5.7 million tons with grades of 1.55% Cu and 0.82% Zn (cut-off 0.8% Cu).

IMPORTANT INFORMATION

This press release is not an offer to subscribe for shares or other securities in Vilhelmina Mineral. No measure has been taken and no measures will be taken to allow an offer to the public in any jurisdiction other than in Sweden. The invitation to interested persons to subscribe for shares in Vilhelmina Mineral will only be made through the information memorandum which the Company published on 14 April 2020. No prospectus has or will be produced in connection with the Rights Issue.

The information in this press release may not be published, released or distributed, directly or indirectly, in or into Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, Singapore, the United States or any other jurisdiction where such action would be unlawful, subject to legal restrictions or require measures other than those that follow from Swedish law. Measures in violation of this instruction may constitute a violation of applicable securities law.

Neither subscription rights, paid and subscribed shares nor new shares subscribed for in the offer have been registered or will be registered under the United States Securities Act of 1933 in its current version (the "Securities Act") and may not be offered, subscribed, exercised, pledged, sold, resold, delivered or transferred, directly or indirectly, in or into the United States, except in accordance with an applicable exception to the registration requirements of the Securities Act. The offer is neither directed to persons domiciled in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, Singapore or in any other jurisdiction where participation would require an additional prospectus, registration or other measures than those required by Swedish law.

2020-05-08
Regulatory

First Quarter 2020 (January - March)

  • Revenue for first quarter amounts to MSEK 0.0 (0.0)
  • Exploration and evaluation costs for first quarter amounts to MSEK 4.3 (2.1)
  • After-tax profit for first quarter amounts to MSEK-4.3 (-2.2)
  • Profit per share for first quarter amounts to SEK -0.19 (-0.13)
2020-05-05
Regulatory

Through the rights issue (the "Rights Issue"), Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company") will receive proceeds amounting to approximately SEK 22 million before deduction of costs related to the Rights Issue. 1,628,430 shares, corresponding to approximately 14.7 percent of the shares in the Rights Issue, were subscribed for by the exercise of subscription rights (including subscription undertakings) and 1,478,793 shares, corresponding to approximately 13.4 percent of the shares in the Rights Issue, were subscribed for without subscription rights. In addition, 7,941,387 shares, corresponding to approximately 71.9 percent of the shares in the Rights Issue were subscribed for by guarantors.

2020-04-24
Regulatory

Vilhelmina Mineral AB (publ) ("the Company") has held an annual general meeting (the "AGM") on April 24, at which the current members of the board, Scott Moore, Neil Said, Les Kwasik, Jonas Dahllöf and Peter Hjorth, were re-elected. Further, the board has been authorized to issue up to 33,000,000 new shares or other financial instruments. The board of directors' complete proposals have previously been published and is available at the Company's website, www.vilhelminamineral.com

2020-04-06

Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or "the Company") increases its ownership in Joma Gruver AS ("Joma Gruver") from 50% to 75% by injecting additional financing of 2.5 MNOK. Further, this capital injection will make grants of the same amount accessible from Norwegian institution Innovasjon Norge AS ("Innovasjon Norge") and the County of Trøndelag. Total financing of 5 MNOK will deployed in progressing projects including development of the regulatory plan which is a key element in the Norwegian permitting process. Further, an updated mineral resources estimate will be made for Joma and Stekenjokk in compliance with international standards (NI 43-101 or JORC) as well as a preliminary economic assessment for these projects.

2020-04-03
Regulatory

Since the Extraordinary General Meeting in Nickel Mountain Resources AB (publ) ("Nickel Mountain") today has approved the transaction through which more than 90 percent of the shares in Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company") are transferred to Nickel Mountain, the Board of Directors in Vilhelmina Mineral intends to withdraw its listing application at NGM Nordic SME. Furthermore, the Board of Directors in Vilhelmina Mineral has, based on the authorization from the Annual General Meeting on May 3, 2019, resolved upon a preferential rights issue of shares of in aggregate approximately SEK 22 million (the "Rights Issue") and a directed share issue to be paid by way of set-off of approximately SEK 1 million (the "Set-Off Issue").    

2020-03-23
Regulatory

The shareholders in Vilhelmina Mineral AB (publ), reg. no 556832-3876, are hereby invited to participate in the Annual General Meeting to be held on Friday, April 24, 2020 at 4 p.m. in the Company's premises at Brahegatan 29 in Stockholm. Registration to the Annual General Meeting starts at 3.30 p.m.

2020-03-09
Regulatory

Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral") announces that Nickel Mountain Resources AB (publ) (" Nickel Mountain ") today has entered into an agreement with owners of 92.5 % of the shares in Vilhelmina Mineral to acquire their shares against payment in newly issued shares in Nickel Mountain. Before the transaction is completed, Vilhelmina Mineral will be financed through a rights issue of SEK 23 million, which is 100% covered by guarantees and subscription obligations. In addition, Vilhelmina Mineral has entered into an agreement for additional financing of approximately SEK 3.3 million through Norwegian regional funds. The affair with Nickel Mountain requires, among other things, the approval of an Extraordinary General Meeting of Nickel Mountain. 

2020-02-11
Regulatory

Fourth quarter 2019 (October-December 2019)

  • Revenue for fourth quarter amounts to MSEK 0.0 (0.0)
  • Exploration and evaluation costs for fourth quarter amounts to MSEK 2.9 (3.3)
  • After-tax profit for fourth quarter amounts MSEK -2.9 (-3.3)
  • Profit per share for fourth quarter amounts SEK -0.17 (-0.22)

Full year 2019 (January-December 2019)

  • Revenue for full year amounts to MSEK 0.0 (0.0)
  • Exploration and evaluation costs for full year amounts to MSEK 8.4 (11.0)
  • After-tax profit for first nine months amounts MSEK -8.5 (-11.3)
  • Profit per share for first nine months amounts SEK -0.51 (-0.84)
2019-11-08
Regulatory

Third quarter 2019 (July-September 2019)

  • Exploration and evaluation costs for third quarter amounts to MSEK 1.5 (1.3)
  • After-tax profit for third quarter amounts MSEK -1.5 (-1.3)
  • Profit per share for third quarter amounts SEK -0.09 (-0.09)

First nine months 2019 (January-September 2019)

  • Exploration and evaluation costs for first nine months amounts to MSEK 5.6 (7.7)
  • After-tax profit for first nine months amounts MSEK -5.6 (-8.0)
  • Profit per share for first nine months amounts SEK -0.34 (-0.64)
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