First Nordic Announces Private Placement of SDRs To Facilitate Listing on Sweden's Nasdaq First North Growth Market
First Nordic Announces Private Placement of
SDRs To Facilitate Listing on Sweden's
Nasdaq First North Growth Market
TORONTO
,
March 6, 2025
/CNW/ -
First Nordic Metals Corp.
(the "
Company
" or "
FNM
") (TSXV:
FNM) (OTCQB: FNMCF) (Germany: HEG0) is pleased to announce its intent to complete a
brokered private placement of up to 2,329,193 Swedish depository receipts ("SDRs"), a financial
instrument issued by a Swedish bank representing shares in a non-Swedish company, in conjunction
with its planned listing on the Nasdaq First North Growth Market ("Nasdaq First North") in
Sweden
.
Each SDR is underpinned by one common share of the Company (each, a "Share"), at a price of
SEK 3.22
per SDR (CA$ 0.45, assuming an exchange rate of
SEK 7.15
to CA$ 1.00) for aggregate
gross proceeds of up to
SEK 7.5 million
(CA$ 1.05 million) (the "Private Placement"). Certain
Swedish investors have already provided subscription commitments of approximately
SEK 5.5 million
of the Private Placement.
On
March 5, 2025
, the Company received conditional approval for the listing of its SDRs on the
Nasdaq First North; FNM is undertaking the current Private Placement to fulfil a requirement
regarding a minimum number of SDR holders (300) for listing. If FNM receives final approval to list
on the Nasdaq First North the first day for trading of the SDRs is expected to be
March 21, 2025
.
The Company has the possibility to increase the Private Placement by 776,398 SDRs,
corresponding to additional gross proceeds of
SEK 2.5 million
, if the Private Placement is
oversubscribed.
The net proceeds from the Private Placement will be used by the Company for exploration at its
properties in
Sweden
, as well as general working capital and corporate purposes.
The Private Placement is directed to the public and institutional investors in
Sweden
and
Finland
. The
Shares issued pursuant to the Private Placement that are underpinning the SDRs will be subject to a
Canadian four-month and one day statutory hold period from the closing of the Private Placement. A
subscriber in the Private Placement is not allowed to convert subscribed SDRs to Shares during the
hold period in
Canada
.
Subscription of SDRs in the Private Placement is made to DNB Markets, a part of DNB Bank ASA,
Sweden
Branch ("DNB"), by completing the electronic application form, available on
Application - public in
Sweden
- Form
for Swedish investors and on
Application - public in
Finland
- Form
for Finnish investors. The application form is also available on
DNB's website (
www.dnb.se/emission
) and can be submitted by email to:
.
The Private Placement is expected to close on or about
March 12, 2025
and is subject to certain
closing conditions including, but not limited to, the receipt of all necessary approvals including the
conditional approval of the TSX Venture Exchange ("TSXV"). The Private Placement is also subject
to final acceptance of the TSXV.
Augment Partners AB ("Augment") is acting as the financial advisor to the Company in connection
with the Private Placement. In consideration for its services, the Company has agreed to pay
Augment a cash commission equal to 6% of the gross proceeds from the Private Placement.
About First Nordic Metals
First Nordic Metals Corp. is a Canadian-based gold exploration company, consolidating assets in
Sweden
and
Finland
, with a vision to create
Europe's
next gold camp. The Company's flagship asset
is the Barsele gold project in northern
Sweden
, a joint venture project with senior gold producer
Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a
district-scale license position comprised of two additional projects (Paubäcken, Storjuktan), which
combined with Barsele, total approximately 100,000 hectares on the Gold Line belt. Additionally, in
northern
Finland
, FNM is the 100%-owner of a district-scale position covering the entire
underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold
occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh
, M.Eng, P.Eng, CPA
CEO & Director
Follow First Nordic Metals:
Twitter: @fnmetals
Youtube: @firstnordicmetalscorp
LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals
Instagram: @firstnordicmetals
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Important information
This press release may not be made public, published or distributed, directly or indirectly, in or into
Australia
,
Hong Kong
,
Japan
,
New Zealand
,
Singapore
,
South Africa
,
Switzerland
or
the United
States
or any other jurisdiction where such distribution would require registration or other measures
in addition to those required by Swedish law, is prohibited, or otherwise is unlawful or cannot be
made without the application of an exemption from such action.
The publication, announcement or distribution of this press release may, in certain jurisdictions, be
subject to restrictions and the recipients of this press release in jurisdictions where this press
release has been published or distributed shall inform themselves of and follow such legal
restrictions. The recipient of this press release is responsible for using this press release, and the
information contained herein, in accordance with applicable rules in each jurisdiction. This press
release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any
securities in the Company in any jurisdiction, neither from the Company nor from someone else.
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the
European Parliament and of the Council of
14 June 2017
(the "Prospectus Regulation") and has not
been approved by any regulatory authority in any jurisdiction.
This press release does not constitute or form part of an offer or solicitation to purchase or
subscribe for securities in
the United States
. The securities referred to herein may not be sold in
the
United States
absent registration or an exemption from registration under the US Securities Act of
1933, as amended (the "Securities Act"), and may not be offered or sold within
the United States
absent registration or an applicable exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act.
Actions taken in violation of this instruction may constitute a crime against applicable securities laws
and regulations.
Forward-looking Statements
This press release contains forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the Company's and the group's future results
of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies
and opportunities and the markets in which the Company and the group operates. Forward-looking
statements are statements that are not historical facts and may be identified by words such as
"believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or
"might", or, in each case, their negative, or similar expressions. The forward-looking statements in
this press release are based upon various assumptions, many of which are based, in turn, upon
further assumptions. Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no assurance that they will materialize or that
the assumptions on which it is based are correct. Because these statements are based on
assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome
could differ materially from those set out in the forward-looking statements as a result of many
factors. Such risks, uncertainties, contingencies, and other important factors could cause actual
events to differ materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not guarantee that the assumptions underlying the
forward-looking statements in this press release are free from errors and readers of this press
release should not place undue reliance on the forward-looking statements in this press release. The
information, opinions and forward-looking statements that are expressly or implicitly contained herein
speak only as of the date of this press release and are subject to change without notice. Neither the
Company nor anyone else undertake to review, update, confirm or to release publicly any revisions
to any forward-looking statements to reflect events that occur or circumstances that arise in relation
to the content of this press release, unless it is required by law or Nasdaq First North Growth
Market Rulebook for Issuers of Shares.
SOURCE
First Nordic Metals Corp.
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For further information:
For further information contact: Alicia Ford, Director, Corporate
Development, Phone: 403-604-9646, Email: [email protected]
CO: First Nordic Metals Corp.
CNW 08:59e 06-MAR-25