Nuuk, 12 May 2010
Announcement no. 11/2010
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This announcement is not for release, publication or distribution
in the United States, Canada, Australia or Japan.
NUNAMINERALS COMPLETES FULLY SUBSCRIBED ISSUE OF
SHARES
NunaMinerals announced on 12 April 2010 that the Supervisory Board of the
company considered the possibilities to complete within the foreseeable future a
directed share issue of up to 9.99% of the company's share capital to a limited
group of selected investors, as a consequence of positive developments in
several of the company's exploration projects.
On this basis NunaMinerals has on 12 May 2010 completed a share issue that was
fully subscribed with 106,690 new ordinary shares of nominal value of 100 DKK
each ('New Shares') at a subscription price of 225 DKK per share. NunaMinerals
thus receives gross proceeds of 24.0m DKK.
The rights attached to the New Shares, including voting rights and the right to
dividends, are effective from the date of the registration of the capital
increase with the Commerce and Companies Agency. The New Shares carry the right
to full dividends for the accounting year 2010.
Following the completion of the capital increase with the nominal value of
10,669,000 DKK, NunaMinerals' share capital will be nominal 117,430,600 DKK
corresponding to 1,174,306 shares with a nominal value of 100 DKK each.
Settlement and payment of the New Shares are expected to take place on 19 May
2010. The New Shares are expected to be admitted for listing on NASDAQ OMX
Copenhagen A/S on 20 May 2010 under the ISIN code for the existing shares
(DK0016190986) following registration of the capital increase with the Commerce
and Companies Agency and the merger of the temporary ISIN code DK0060230613 with
the existing ISIN code in VP Securities. The temporary ISIN code will not be
separately admitted for trading and official listing on NASDAQ OMX Copenhagen
A/S as it will only be registered with VP Securities for the purpose of the New
Shares.
”We are very pleased with the capital increase as well as the confidence
investors have shown us. The proceeds from the issue of new shares enhance
NunaMinerals' possibilities of ensuring a further value increase of our project
portfolio, including the Vagar gold project, the Inglefield Land iron project
and NunaMinerals' gold project in the Nuuk area,” says Ole Christiansen, CEO of
NunaMinerals.
The activities in the Nuuk gold province during 2010 and subsequent years are
expected to be financed by the company's partner, Nuukfjord Gold Ltd., in
accordance with a joint venture agreement.
FURTHER INFORMATION:
Anton Christoffersen, Chairman, phone: +299 32 52 10, mobile: +299 55 52 10
Ole Christiansen, CEO, phone: +299 36 20 01, mobile: +299 55 18 57
ABOUT NUNAMINERALS
NunaMinerals A/S is Greenland's leading company in the exploration of gold and
other precious and base metals. Firmly rooted in Greenland, the company is well
positioned to exploit the mineral potential of one of the world's few remaining
unexplored regions. The geology of Greenland has a number of similarities with
that of long-established mining countries such as Canada, South Africa and
Australia, which all have substantial mineral deposits of gold, platinum, nickel
and copper, among other commodities.
The company has established partnerships with other mining and exploration
companies, including the world's second- largest mining company, Rio Tinto.
In June 2009, NunaMinerals established a partnership with Vancouver-based
Nuukfjord Gold Ltd regarding the continued exploration and development of the
Nuuk Gold District, which includes two advanced exploration plays: the Storoe
Gold Deposit and the Qussuk Gold Prospect. Setting up partnerships that may
bring further technical and financial expertise to the development of the
company's exploration prospects is a key element of NunaMinerals' business
model.
NunaMinerals began operations in 1999 and is headquartered in Nuuk, Greenland.
The company is listed on NASDAQ OMX Copenhagen A/S under the symbol “NUNA”.
For more information, please visit our website: www.nunaminerals.com.
This announcement does not contain all the information that may be of relevance
to prospective investors. This announcement contains forward-looking statements
on NunaMinerals' future financial developments and financial results as well as
other statements, which are not historical facts and which may prove to be
incorrect. This announcement does not constitute an offer to sell or a
solicitation of an offer to buy any of the offered shares in any jurisdiction or
to any person in which or to whom it is unlawful to make such an offer. This
announcement is not for release, publication or distribution in the United
States, Canada, Australia or Japan. Prospective investors should seek
professional investment advice as well as examine relevant risks and legal
aspects, including tax aspects, which could be relevant in connection with
acquiring the shares.
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