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Axactor SE — Capital/Financing Update 2011
Jan 17, 2011
3549_rns_2011-01-17_77a8dd06-f5ed-410b-b1fd-206221643a05.pdf
Capital/Financing Update
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IGE
Press release No 4 - 2011
17 January, 2011
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]
Fredric Bratt
CEO, IGE Nordic AB
Phone: +46 8 402 28 00 / Mobile: +46 762 35 32 60
E-mail: [email protected]
IGE
Thomas Carlsson
CFO, IGE Resources AB
Tel: +46 8 402 28 05 / +46 70 552 26 22
E-mail: [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 for more detailed information.