The board of directors of Artic Minerals AB (publ) ("Arctic Minerals" or the "Company") proposes that the annual general meeting on 30 June 2023, resolves on a directed new share issue with payment through set-off to four of the Company's creditors of up to 4,574,994 shares, which will result in the Company's debts decreasing by up to SEK 2,516,246.7 (the "Set-Off Issue"). The subscription price amount to SEK 0.55 per share and corresponds to a premium of approximately 11 per cent compared to the closing price of the Company's share on Nasdaq First North Growth Market on 29 May 2023.

The board of directors of Artic Minerals AB (publ) ("Arctic Minerals" or the "Company") has resolved, with the support of the authorization obtained at the Company's extraordinary general meeting on 17 November 2022, on a directed new share issue with payment in cash of 9,689,100 shares, which will raise proceeds to the Company to SEK 5,329,005 before issue costs (the "Directed New Share Issue"). The subscription price in the Directed New Share Issue amount to SEK 0.55 per share.

The Board of Directors of Arctic Minerals has appointed Risto Pietilä as new CEO of the Company.

ARCTIC MINERALS APPOINTS RISTO PIETILÄ AS NEW CEO

Arctic Minerals AB (publ) has identified a new copper target in a previously unexplored and sparsely populated part of central Finland. Boulders assay up to 4.4% copper.

ARCTIC MINERALS IDENTIFIES A NEW COPPER TARGET IN FINLAND