NORDIC IRON ORE SECURES SEK 60 MILLION IN FINANCING

Nordic Iron Ore AB (publ) has completed a financing of SEK 60 million (USD 8,6 million) through a convertible loan. The convertible loan has been subscribed by existing shareholders and a number of new investors.

"We’re obviously pleased to have the financing in place as it enables us to focus on the continued work to restarting Ludvika Mines. Next to follow is the planned drilling program for Väsman and Blötberget as a part of ongoing work with the feasibility study", says Christer Lindqvist, CEO of Nordic Iron Ore.

The company's management have met both Swedish and international investors during the spring, enabling a good foundation for future financing. The Board still considers an IPO as an option for the company's financing once the financial markets have stabilized.

For further information please contact:

Christer Lindqvist, CEO Nordic Iron Ore, phone +46 70 591 0483, e-mail christer.lindqvist@nordicironore.se
Lennart Eliasson, CFO Nordic Iron Ore, telefon +46 70 640 5177, e-mail lennart.eliasson@nordicironore.se

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