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Axactor SE — Capital/Financing Update 2011
Jan 17, 2011
3549_rns_2011-01-17_22a2e1ff-67dd-4f0f-88c6-2e71451a259d.html
Capital/Financing Update
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IGE to pursue Toronto listing for the Rönnbäcken Nickel Project
IGE to pursue Toronto listing for the Rönnbäcken Nickel Project
IGE Resources AB (OSE: IGE) today announced that the Company is pursuing
a listing of its Rönnbäcken Nickel Project at the Toronto Stock Exchange
(TSX).
"Having explored a number of alternatives, we are convinced that a
Toronto listing represents the most attractive financing solution for
Rönnbäcken at this stage in the nickel project's development," said
IGE's CEO Tomas Fellbom.
IGE has decided to put the dialogue involving potential investors in
Rönnbäcken, initiated in August 2010, on hold for the time being.
"Toronto is an international centre for the mining industry and the TSX
is a proven arena for financing mining projects. A company with
documented value creation potential will be able attract more specialist
investors there than in most other markets in the world. A Toronto
listing provides the best opportunity to obtain necessary financing for
the next steps of Rönnbäcken's development and also represents a
professional and transparent valuation of the project. IGE will remain
in control of Rönnbäcken and we expect that the solution will enable us
to choose the optimal industrial partner for the project at a later
stage," said Tomas Fellbom.
IGE's subsidiary IGE Nordic AB will be restructured and renamed Nickel
Mountain Resources AB, with the Rönnbäcken Nickel Project as its sole
mineral asset. IGE Nordic AB is currently preparing to apply for a
listing on the TSX. IGE has retained Haywood Securities Inc. of Canada
to act as financial adviser and lead agent for the contemplated initial
public offering, which is expected to take place in the second quarter
of 2011. IGE Resources will remain the majority shareholder of Nickel
Mountain Resources AB also after completion of the IPO.
Legal remarks:
The Company has not yet made application to the TSX or TSX Venture
Exchange. There can be no certainty that such application will be
accepted.
Not for distribution to U.S. news wire services or dissemination in the
United States.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such legislation
is available.
For additional information, please contact:
Tomas Fellbom
CEO, IGE Resources AB
Phone: +46 8 402 28 00 / Mobile: +46 73 322 57 86
E-mail: [email protected] ([email protected])
Fredric Bratt
CEO, IGE Nordic AB
Phone: +46 8 402 28 00 / Mobile: +46 762 35 32
60
E-mail: [email protected] ([email protected])
Thomas Carlsson
CFO, IGE Resources AB
Tel: +46 8 402 28 05 / +46 70 552 26 22
E-mail: [email protected] ([email protected])
IGE Resources AB (publ) is a Scandinavian company mainly focusing on
diamonds exploration and production in Southern Africa. IGE's portfolio
also includes one of Northern Europe's largest nickel deposits and gold
exploration projects in Kenya. IGE is headquartered in Stockholm and its
shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer
to www.ige.se (http://www.ige.se/) for more detailed information.