The purpose of the shareholder loan is to secure financing considering the timetable for the planned mine opening and strategic initiatives such as Grand Viscaria.

According to the agreement, the company may use the shareholder loan, in full or in part, until August 30, 2025. The borrowed amount carries an annual interest rate of 10 percent and is amortization-free, and shall be repaid, along with accrued interest, no later than December 31, 2026. Under the terms of the shareholder loan, there is an option and an intention from the lender to convert the loan amount into shares in a future new share issue. As security for the loan, Viscaria has pledged the shares in its subsidiary Viscaria Kiruna AB.

Together with the shareholder loan announced on November 28, 2024, the company has received shareholder loans and accompanying letters of intent totalling SEK 715 million from certain major shareholders, of which approximately SEK 510 million from TomEnterprise Public Capital AB and approximately SEK 140 million from Jan Ståhlberg.

“We want to thank our major shareholders for the great trust they are showing us through this financing and the accompanying letters of intent. Our plan is to carry out a rights issue so that no shareholder will be involuntarily diluted,” said Jörgen Olsson, CEO of Viscaria. “The capital gives us increased financial strength and flexibility to continue our work developing the Viscaria mine according to plan. It is a clear confirmation of confidence in our strategy and the long-term potential of our assets.”

“Viscaria has, in a methodical and predictable manner, shown that it follows a clear strategy, which inspires great confidence. I see the company as very well positioned to help strengthen Sweden's and Europe's copper supply, making it a very interesting investment opportunity,” said Thomas von Koch of TomEnterprise.

In line with previous communication, the company estimates that the initial investment required to restart the Viscaria mine will amount to approximately SEK 6.1 billion and is planned to consist of approximately 50–60 percent debt financing and approximately 40–50 percent equity.