23.12.2021

Update on merger process

(51-2021) ENG - Merger date update

Update on merger process

Endomines AB (publ), Stock Exchange Release 23 December 2021 at 12:00 CET

 

As previously communicated, in June 2021 Endomines AB (publ) (“Endomines”) signed a merger plan concerning re-domiciliation of the company from Sweden to Finland through a cross-border down-stream merger, whereby the currently listed parent company, Endomines, would merge into a newly established wholly-owned subsidiary, Endomines Finland Oyj (“Endomines Finland”), which would continue as the surviving company (the “Merger”). The Merger was approved by an EGM in Endomines in July 2021 and was initially planned to be completed during the fall 2021. Nasdaq Helsinki has approved Endomines Finland’s listing application, subject to customary conditions.

 

Since Euroclear Sweden has resolved not to affiliate shares in non-Swedish companies as from the summer 2021, shareholders in Endomines who have their shares held on a securities or depositary account registered with Euroclear Sweden would receive Swedish depository receipts (“SDRs“) in Endomines Finland in the Merger instead of shares. Endomines has since the summer been in contact with different providers of SDRs in Sweden, but it has proven difficult to find a suitable provider to issue the required SDRs. To implement the Merger, Endomines will need to file for registration with the Finnish Patent and Registration Office on or before 27 March 2022. Endomines is continuing the discussions with potential SDR providers and to explore all options to complete the Merger in due course and will provide a further update as soon as possible.

 

Contact person

Seppo Tuovinen, Interim CEO, seppo.tuovinen@endomines.com, +358 50 576 0143

Ingmar Haga, Chairman, ingmar.haga@endomines.com, +358 40 700 35 18

 

This information was submitted for publication through the contact persons set out above at 12:00 CET on 23 December 2021.

 

 

About Endomines

Endomines is a mining and exploration company with its primary focus on gold. The Company explores for gold along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA and Finland. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.

The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).