Dannemora Mineral to sell up to SEK 165 million of stock in placement

By Devika Patel

Knoxville, Tenn., March 25 - Dannemora Mineral AB said it will raise between SEK 120 million and SEK 165 million in a private placement of shares.

The company will sell class B shares at a price yet to be negotiated.

The private placement will be effected through agent First Securities AS.

The book-building period will begin Thursday and close on March 26.

Proceeds will be used to advance certain time critical investments in ramp decline and exploration and support the company's growth. Proceeds will also be used for general corporate purposes.

Dannemora Mineral is an Osterbybruk, Sweden-based mining and exploration company.

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