Loan repayments are postponed to 2016-2017
STOCKHOLM -- (BUSINESS WIRE) -- Regulatory News: Endomines AB
(publ) (STO:ENDO) (HEX:ENDOM) and Nordea Bank Finland Plc have signed an amendment and restatement agreement to the term loan agreement dated 9 October 2009. The agreement was subject to the completion of a minimum of 66 MSEK equity rights issue.
Since the equity issue was fully subscribed the condition has been met. According to the agreement 7 MSEK (0.75 MEUR) is repaid in April 2016, 7 MSEK (0.745 MEUR) in October 2016 and the remaining 31 MSEK (3.3 MEUR) in January 2016.
conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company’s first mine, Pampalo, started in February 2011. During 2014 Endomines initiated the production of ore from the mine in Rämepuro and is now planning to start mining of the gold deposit in Hosko. The ore from Hosko will, like the ore from Rämepuro, be processed in the fore the Gold Line centrally positioned upgrading plant at Pampalo.
The Company’s business practices and mining operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting for public mining & exploration companies. The Company has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on NASDAQ Stockholm under ticker ENDO and on NASDAQ Helsinki under ticker ENDOM. Pareto Securities acts as Liquidity Provider in Stockholm.
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:55 CET on December 16, 2014.
This information was brought to you by Cision http://news.cision.com
Markus Ekberg, CEO
phone +358-40-706 48 50