STOCKHOLM, Sweden, Dec. 30, 2016 /PRNewswire/ -- TEKES - the Finnish Funding Agency for Innovation, has extended the terms of the development loan of 9,400,000 EUR. According to the new terms the project financing of the Silver Mine shall be secured before June 30th 2017. Otherwise, the conditions are the same as earlier.
TEKES finance and boosts a wide range of innovation activities in research communities, industry and service sectors.
"I am very pleased that TEKES have extended their earlier resolution. The schedule is now adjusted to the progress, which have been reached in the financing negotiations. Our ambition is that all building- and construction works shall be completed by the end of 2017, with the aim to reach full production during the first half of 2018", says CEO Timo Lindborg
Stockholm, December 30th 2016
Timo Lindborg, CEO
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company's main development project is the Silver Mine project in the municipality of Sotkamo.
Sotkamo Silver applies SveMin's & FinnMin's respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101 code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi . For further information please contact Timo Lindborg, CEO on +46-8-304920.
CONTACT:
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http://news.cision.com/sotkamo-silver/r/tekes-loan-term-is-extended,c2158412
The following files are available for download:
| Press release (PDF) |
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