Nuuk, 2015-05-14 03:43 CEST (GLOBE NEWSWIRE) -- With reference to company announcement no. 11 of 19 April 2015 according to which the Board of Directors of NunaMinerals A/S (“NunaMinerals” or the “Company”) decided to file for bankruptcy, the Company hereby confirms that the meeting at which the Court of Greenland can declare bankruptcy is scheduled to take place on Friday 15 May 2015.
Prior to the publication of the announcement regarding NunaMinerals’ filing for bankruptcy, a letter proposal was made by Greenland Mining Management Ltd (“GMM”) on certain conditions. However, the Government of Greenland, as the largest shareholder in NunaMinerals, did not find the proposal acceptable.
Subsequently, GMM worked out a new model for NunaMinerals' operations, which is currently being discussed with the government and NunaMinerals. Whether such ongoing discussions may lead to a last minute solution for restructuring NunaMinerals’ activities is still very uncertain at this point in time.
The Board of Directors will provide a further update to the market as soon as there are any further developments.
For additional information, please contact:
Ole Christiansen, President and CEO, mobile: +299 55 18 57
Birks Bovaird, Chairman of the Board, mobile: +1 416 518 0100
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ABOUT NUNAMINERALS A/S
The company is listed at NASDAQ OMX Copenhagen A/S under the symbol “NUNA” (Copenhagen: NUNA.CO). For more information, please visit our website: www.nunaminerals.com.
Ole Christiansen, President and CEO, mobile: +299 55 18 57
Birks Bovaird, Chairman of the Board, mobile: +1 416 518 0100