|By Marketwired .||
|July 15, 2014 04:58 AM EDT||
LUXEMBOURG, LUXEMBOURG -- (Marketwired) -- 07/15/14 -- Northland Resources S.A. (OSLO: NAUR)(FRANKFURT: NPK)(OMX: NAURo) - together with its subsidiaries "Northland", "NRSA" or the "Company") announces that the shares to be issued to bondholders have now been issued and registered in the Norwegian Central Securities Depository ("VPS").
Reference is made to the Company's announcement from July 9, 2014, regarding the number of shares to be issued from conversions of Second Lien Bonds in July 2014. The shares have now been issued and registered in VPS, and are available for trading.
Following this issue of 3,463,290 shares, the Company's new share capital is CAD 691,368.42 divided into 69,136,842 shares.
In order to receive shares upon conversion of Second Lien Bonds in January 2015, the bonds have to be transferred to Nordea by December 29, 2014. To meet this deadline, a notice of bond conversion should be received by each bondholder's account manager/custodian in VPS no later than December 28, 2014.
The notice of bond conversion can be found on the Company's website: http://northland.eu/en-us/investor-relations/current-transaction
Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company has also finalized a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland.
This announcement may include "forward-looking" information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, Northland's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland's actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland's results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
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