Brief: Northgold Updates Their Strategy, Resolves On Rights Issue

Northgold AB

29/08/2024 10:35

Aug 29 (Reuters) - Northgold AB  NGOL.ST :
    * UPDATES THEIR STRATEGY AND RESOLVES ON A RIGHTS ISSUE OF
UNITS
OF APPROXIMATELY SEK 15.2 MILLION
    * SUBSCRIPTION PRICE IN RIGHTS ISSUE IS SEK 3.00 PER UNIT,
CORRESPONDING TO SEK 1.00 PER SHARE
    * HAS RECEIVED SUBSCRIPTION AND UNDERWRITING COMMITMENTS TO
AN
APPROXIMATE AMOUNT OF SEK 7.6 MILLION, CORRESPONDING TO
APPROXIMATELY 50 PERCENT OF RIGHTS ISSUE
    * SUBSCRIPTION PERIOD IN RIGHTS ISSUE STARTS ON 10 SEPT
2024, ENDS
ON 24 SEPT 2024
    * WILL INITIATE FURTHER COST REDUCTIONS
    * WILL NOT CONDUCT ANY NEW DRILLING PROGRAMS FOR TIME BEING
    * CONTINUING TO EVALUATE POTENTIAL PARTNERSHIPS AND
COLLABORATIONS
AS WELL AS STRUCTURED DEALS AND OPPORTUNITIES
    * BOARD OF DIRECTORS ASSESSES THAT NEW STRATEGY CREATES BEST
OPPORTUNITIES FOR MAXIMISING VALUE FOR SHAREHOLDERS GIVEN
CURRENT CIRCUMSTANCES

Source text for Eikon:  ID:nMFN3sXq0t 
Further company coverage:  NGOL.ST 

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