Arctic Minerals, a Nordic mineral exploration company focused on copper, zinc, gold and battery metals in the Nordics, has completed a directed issue of units, raising proceeds of approximately SEK 13.6 million.
The purpose of the directed issue is to provide the company with necessary funding to finance the project advancement of the combined company’s assets after the acquisition of Rare Earth Energy Metals (”REEM”). The directed issue was directed to a number of current and new private and institutional investors, including shareholders of REEM. Subscribers in the Directed Issue include Longbow Resources Ltd, Evli Silver and Gold (Mutual Fund) and the Behet Family Trust.
The acquisition will add two highly prospective copper projects in Sweden to Arctic Minerals’ project portfolio, complimenting existing gold-copper and copper projects in Norway and Finland and establishing Arctic Minerals as a significant exploration company in the copper space, with four high quality assets at different stages of the development cycle.
Augment acted as financial advisor to Arctic Minerals in connection with the directed issue.
Read full press release about the directed issue (in English)
Read full press release about the directed issue (in Swedish)
Read full press release about the acquisition (in English)
Read full press release about the acquisition (in Swedish)