The loan carries annual interest at STIBOR 90 with an addition of five (5) percentage points, with quarterly interest payments. Until and including 31 December 2028, Norrlandsfonden is entitled to convert parts of, or the entire, nominal amount. The conversion price will amount to SEK 1.61 per share, corresponding to a premium of 40 percent in relation to the latest directed share issue of SEK 1.15 per share.

At full conversion of this convertible debenture, Norrlandsfonden would receive 3,487,204 shares in Copperstone, corresponding to a dilution of 0.2 percent for existing shareholders.

The convertibles are issued by virtue of the authorisation from the annual general meeting to the board of directors, and in view of existing loan agreements between Copperstone and Norrlandsfonden, according to which Norrlandsfonden shall be entitled, but not obligated, to support Copperstone in connection with capital raisings, including directed share issues, mainly by subscription of additional convertibles on conditions corresponding to the conditions for the share issue. The deviation from existing shareholders’ preferential right thus follows from the loan conditions for the convertibles previously subscribed by Norrlandsfonden. Duration, interest and conversion price have now, relatively promptly after Norrlandsfonden made its investment decision, been determined by the board of directors on the basis of the issue price in the directed share issue on 21 October 2022, and in line with previous convertible issues. Considering the advantages that the board of directors assesses that the new loan, on these conditions, have for the Company today, the board has decided to offer Norrlandsfonden subscription of convertibles in the same manner as previously.

“We are happy that the good co-operation with Norrlandsfonden continues, and the issue proceeds ensures the momentum that we currently feel in the Viscaria project”, says the CEO of Copperstone Henrik Ager.

For more information, please contact Henrik Ager (CEO) henrik.ager@copperstone.se, info@copperstone.se or visit Copperstone’s website www.copperstone.se.
This information was submitted for publication, through the agency of the contact person set out above, on February 9, 2023 at 8:00 PM CET.

ABOUT COPPERSTONE
Copperstone Resources AB is a company now scaling up to become a modern and responsibly producing mining company through the reopening of the Viscaria mine in Kiruna, Sweden. The deposit’s high copper grade assessed mineral resources, geographical location and growing team of experts provides good opportunities to become a key supplier of quality and responsibly produced copper – a metal that plays a critical role in Sweden’s and Europe’s climate change towards an electrified society. In addition to the Viscaria mine, Copperstone holds a number of other exploitation concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan), all in Sweden. The company’s shares are traded on the Nasdaq First North Growth Market (ticker COPP B). Augment Partners is the company’s Certified Adviser, info@augment.se, +46 8 604 22 55.