Reference is made to the stock exchange announcement published by Nordic Mining
ASA ("Nordic Mining" or the "Company") on 16 January 2026 regarding a
successfully placed private placement of new shares in the Company raising
approximately NOK 200 million in gross proceeds by issuing 16,666,666 new
shares, each at a subscription price of NOK 12.00 per share (the "Subscription
Price") (the "Private Placement") and a contemplated subsequent offering of up
to 10,833,333 new shares in the Company at the Subscription Price in the Private
Placement, raising gross proceeds of up to approximately NOK 130 million (the
"Subsequent Offering").
The Company's shares have for an extended period traded below the Subscription
Price and this is also currently the case. Since the placing of the Private
Placement, the total traded volume at prices at or below the Subscription Price
is higher than the maximum size of the potential Subsequent Offering.
Accordingly, existing shareholders who did not participate in the Private
Placement have had the opportunity to reduce the dilutive effects of the Private
Placement at trading prices at or below the Subscription Price.
The Board of Directors of Nordic Mining has therefore decided not to proceed
with the Subsequent Offering.
For further information, please contact:
Tord Meling, CFO
Tel: +47 99 09 87 66
tord.meling@nordicmining.com
or visit: www.nordicmining.com
About Nordic Mining
Nordic Mining ASA is a resource company with focus on critical minerals. The
Company is undertaking a large-scale industrial development at Engebø on the
west coast of Norway through its wholly owned subsidiary, Engebø Rutile and
Garnet AS, which has mining rights and permits to a substantial eclogite deposit
with rutile and garnet. In addition, the Group holds a landowner agreement for
exploration and development of a high purity quartz deposit in the Kvinnherad
Municipality in Norway and is currently conducting a test work program where
bulk samples from the deposit will be used for pilot scale processing of high
purity quartz product through a full cycle process. Nordic Mining's project
portfolio is of high international standards and holds significant economic
potential. The assets, and in particular the wholly owned Engebø Project,
provide a solid value basis for Nordic Mining's shareholders. Nordic Mining is
listed on the Oslo Stock Exchange.
holders. Nordic Mining is\
listed on the Oslo Stock Exchange.\