Nordic Mines consolidates its shares

The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation the Swedish text shall take precedence.

PRESS RELEASE 31 August 2015

The Annual General Meeting for Nordic Mines AB (publ) ("Nordic Mines" or "the Company") resolved on 30 June 2015 to reduce the Company's share capital to cover losses and to carry out a reorganisation of its shares via a reverse split on a 1-for-100 basis, which means that 100 shares will be consolidated to a single share. Since the measures were approved by its lenders, the Company will now implement the AGM's resolution.

Directed share issue
In order to achieve an evenly distributable number of shares in the Company and thus facilitate a consolidation of the Company's shares, the AGM granted the Company's Board of Directors the authorisation to decide on a directed issue of shares in the Company. Pursuant to this authorisation from the AGM, the Board decided on a directed issue of four shares to Evli Corporate Finance AB. The new shares were issued at a subscription price up to the existing shares' quota value (in total SEK 0.1811).

The total number of outstanding shares in Nordic Mines after the directed issue is 5,403,043,200.

Consolidation of shares (1:100)
The resolution by the AGM on the consolidation of the Nordic Mines share entails that 100 existing shares will be consolidated into one new share. Pursuant to the authorisation granted by the AGM, the Board has determined that the record date for the consolidation will be 16 September 2015.

The final day to trade Nordic Mines shares on NASDAQ Stockholm before the consolidation is 14 September 2015. The first day to trade Nordic Mines shares after the consolidation is 15 September 2015, which means that the price of the share as of 14 September 2015 will reflect the effect of the consolidation. Please note that as of this date the share will be traded under a new ISIN code, SE0007491105.

The consolidation will reduce the total number of shares in Nordic Mines from 5,403,043,200 to 54,030,432. The quota value for the Company's shares after the consolidation will be SEK 4.5269 per share. The Company's share capital will not be affected by the consolidation.

For shareholders who do not own a number of shares that corresponds to a whole number of new shares on the record date, the excess number of shares will be taken over by Nordic Mines and sold. The proceeds from the sale of the excess shares will be paid to entitled shareholders around 21 September 2015.

Schedule for the consolidation of shares

Reduction in share capital to cover losses
The AGM also resolved to reduce the Company's share capital by SEK 147,245,000 to cover losses without withdrawing shares. Since the reduction in share capital was registered by the Swedish Companies Registration Office on 20 August 2015, the Company's share capital is SEK 244,590,214.44.

For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

For more information about Nordic Mines, please visit www.nordicmines.se.

The information presented above has been disclosed pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published on 31 August 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia mine in Finland produced gold between 2011 and 2014. The deposit is among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.

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