Directed placement of 2.4 MSEK in cash - Clarification
Danderyd March 27, 2020
The Copperstone Board has decided to strengthen the Company’s cash position by 2.4 MSEK through a time efficient directed placement, without pre-emptive right, in order to keep up momentum in the project development and save costs despite the turmoil in global financial markets. The fact that the discount of 9% was put in relation to VWAP March 24, 2020, rather than March 25, 2020 is primarily due to the time zone difference between Sweden (all four Directors approved March 25) and Eastern Australia (9 hours ahead, where two Directors approved March 26). As usual, the Copperstone CEO pre-negotiated the price subject to Board approval.
The investors were:
Emanuel Lipschütz 2.800.000 B-shares
Spiky Investments AB 2.800.000 B-shares
Gerhard Dal 1.111.112 B-shares.
For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or or refer to Copperstone webpage: .
The information was delivered by the above-mentioned contact for publishing March 27, 2020 at 16:15 CET.
About Copperstone
Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, , 2. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession in the Bergslagen mining region, in central Sweden.
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