First Nordic Metals, the Canadian-based gold exploration company consolidating assets in Sweden and Finland with a vision to create Europe’s next gold camp, raises SEK 10.0 million in an oversubscribed private placement of Swedish depository receipts (SDRs) ahead of its planned dual listing on the Nasdaq First North Growth Market in Sweden.
First Nordic Metals undertook the private placement to increase the number of SDR holders for its Swedish listing. The private placement of SEK 7.5 million was fully subscribed and the oversubscription allotment of SEK 2.5 million was exercised in full as well. In total, 3,105,591 SDRs were subscribed at a price of SEK 3.22 per SDR. Each subscribed SDR is underpinned by one common share of the company.
Augment acted as financial advisor to First Nordic Metals in connection with the private placement.