STOCKHOLM, Sweden, Jan 03, 2017 /PRNewswire/ --
Sotkamo Silver AB is pleased to announce that its wholly owned subsidiary Sotkamo Silver Oy has received a loanproposal. Kainuun Osuuspankki has offered a loan as the Senior Loan of Euro 2,75 million, secured by collaterals such as mortgage. The proposed loan period is 4 years with one year's grace period.
The bank is an independent member of OP Financial Group. Kainuun Osuuspankki's and OP Financial Group OP's mission is to promote the sustainable prosperity, safety and wellbeing of their owner-members, customers and operating regions. The long-term customer-centred approach also enables continuous renewal and develop services and products to meet customers' needs. According Bloomberg Markets annual assessment June OP Financial Group was the highest-ranked European provider of financial services.
"We are very satisfied to have this offer from Kainuun Osuspankki. It is an important step for securing the complete financing package of the Silver Mine" comments Timo Lindborg, CEO of Sotkamo Silver AB.
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
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
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
SOURCE Sotkamo Silver