Northland Resources SE

Northland Resources SE

September 16, 2014 04:57 ET

Northland Resources: Change of Corporate Form

LUXEMBOURG, LUXEMBOURG--(Marketwired - Sept. 16, 2014) - Northland Resources SE (OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) - (together with its subsidiaries "Northland", "NRSE" or the "Company") announces that the Company's corporate form today has changed to a so called Societas Europaea or SE-company.

At the EGM held on August 28, 2014, the Company's corporate form was approved by the shareholders to be changed to a so called Societas Europaea or SE-company. Since the registration with the Luxembourg trade and companies register now is completed, the change is effective with immediate effect. The Company's name has therefore changed from Northland Resources S.A. to Northland Resources SE.

This is a part of the Company's aim to transfer the Company from Luxembourg to Sweden, in order to achieve a more efficient group structure and reduce the burden of administrative expenses. The next step for the relocation is to change the Company's registered seat from Luxembourg to Sweden, which will be handled on a separate EGM.

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Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and - production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company has also finalized a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland.

Forward-Looking Information

This announcement may include "forward-looking" information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, Northland's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland's actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland's results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

Contact Information

  • Northland Resources SE

    Johan Dagertun, Chief Financial Officer
    +46 920 779 00

    Frida Johansson, Investor Relations
    +46 920 779 00