The subscription period for Nordic Iron Ore’s rights issue of SEK 20.0 million has ended and was subscribed to 159 per cent.
Therefore, the board has decided to exercise an overallotment issue of SEK 5.0 million, giving the company total proceeds of SEK 25.0 million. The capital from the issue will be used for preparations of mining activities and to give the company sufficient time for negotiation of required strategic financing agreements.
Augment acted as financial advisor to the company in the rights issue.