The subscription period for Orezone AB’s (“Orezone” or the “Company”) rights issue of shares with preferential rights to the Company’s shareholders ended on 7 May 2019 and the rights issue was subscribed to 90 per cent, which means Orezone will receive approximately 23.8 MSEK in issue proceeds before transaction costs.
2,216,329 shares, corresponding to approximately 65 per cent, were subscribed with subscription rights. 1,183,147 shares, corresponding to approximately 35 per cent, were subscribed without subscription rights. Therefore, no underwriting commitments will be claimed.
Through the rights issue Orezone’s share capital will increase by 6,798,952 SEK to 19,389,390 SEK. The number of shares in the Company will increase by 3,399,476 to 9,694,695 shares.
As soon as the share capital increase has been registered with the Swedish Companies Registration Office the paid subscription shares (BTA) will be converted into new shares. This is expected to occur around week 21, 2019.
“I am happy for the shown interest in the issue. The raised capital enables the planned exploration for the targets in the Corcel project. At the same time, we will continue to evaluate new potential projects in battery metals in order to build a portfolio of interesting mineral assets and projects.” says CEO, Roberto Garcia Martinez.
For more information, please contact:
Roberto Garcia Martinez, CEO
The information provided herein is pursuant to the Market Abuse Regulation ((EU) No 596/2014, “MAR”). The information was submitted for publication by the aforementioned person on10 May 2019 at 8:30 (CEST).
Orezone in Brief
Orezone AB (publ) is a Swedish exploration company that conducts targeted mineral exploration in Europe. The Company’s business model is to acquire projects and assets, to prospect and explore on these and to develop the deposits to economically profitable mines. Orezone focuses on exploration and development of commodities used in batteries and electric vehicles. Augment Partners AB, phone: +46 8 505 651 72, email: firstname.lastname@example.org is Orezone’s Mentor.
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