Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and Finland

Swedish reorganization procedure
The administrator for the Swedish companies within the Nordic Mines group has to the Uppsala District Court filed composition plans supported by creditors representing at least 40 percent of outstanding unsecured debt. The District Court has approved the administrator's composition plan proposals and called for creditor committé meetings on July 30, 2014. At the creditor committé meetings, the District Court will decide whether the final composition plan can be decided upon. In addition, the District Court has the possibility to further postpone the completion of the creditor comitté meetings for another three weeks after July 30, 2014. For all unsecured creditors, the composition plan would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 per cent payment of claims in excess of that.

Finnish reorganization procedure
The administrator for the Finnish subsidiary is expected to file a composition plan proposal to the Uleåborg District Court as of today July 8, 2014. The creditors to the Finnish subsidiary will then be able to respond to the proposal until July 18, 2014. Thereafter, a request will be filed to the District Court for final decision on the composition plan. The reorganization procedure for the Finnish company will thus also continue. For all unsecured creditors, the composition plan would imply full cash payment of receivables up to EUR 1,000 (SEK 9,000) and 10 per cent payment of receivables larger than EUR 1,000 (SEK 9,000).

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 14:15 (CET) on July 8, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading Gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.