Nordic Mines completes the repurchase of outstanding bank debt

The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation the Swedish text shall take precedence.

PRESS RELEASE 14 December 2015

Nordic Mines AB (publ) ("Nordic Mines" or the "Company" and together with its subsidiaries the "Group") announced, by way of a press release on 9 November 2015, that the Company and the Company's lenders had entered into a final agreement under which Nordic Mines would acquire all of the lenders' claims on the Group pursuant to the existing project financing agreement (the "Bank Debt"). The Company has now completed the repurchase of the Bank Debt in accordance with the agreement.

The repurchase of the Bank Debt means that: 

• The Company repurchases the Bank Debt at a purchase price of EUR 5 million, corresponding to an additional write-down of the initial loan amounts of approximately EUR 10 million. Prior to the first write-down during the summer 2014, the amount of the Bank Debt exceeded EUR 45 million.
• The Company repurchase the warrants held by the lenders, such warrants corresponding to an ownership of 12 per cent in the Company following exercise of the warrants. The warrants will be cancelled by the Company.
• The Company resumes full control over its assets that are pledged pursuant to the project financing agreements.

The repurchase of the Bank Debt has been financed through the now completed new issue of shares with pre-emption rights for the Company's shareholders (the "Rights Issue"). The Rights Issue has been registered with the Swedish Companies Registration Office and the new shares are traded on Nasdaq Stockholm as of Thursday 10 December 2015.

Following the registration of the Rights Issue, the total number of shares and votes in the Company amounts to 565,722,756 and the Company's share capital amounts to SEK 249,707,137.8611. Each share having a quotient value of approximately SEK 0.4414.

Stockholm, 14 December 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

For more information about Nordic Mines, please visit; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 8.00 a.m. (CET) on 14 December 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining Gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.