LUXEMBURG, LUXEMBURG--(Marketwire - March 15, 2013) - Northland Resources S.A. (TSX:NAU)(OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) (together with its subsidiaries, "Northland" or "the Company") announces that the Company's common shares will be delisted from the Toronto Stock Exchange (the "TSX") on March 15, 2013.
Northland has received notice from the Continued Listings Committee of Toronto Stock Exchange that the Company has failed to meet the continued listing requirements of the TSX, following the decision to file for corporate reorganization of its three Swedish subsidiaries. As the reorganization is still ongoing, the shares will be delisted from the TSX effective at the close of market on March 15, 2013.
Since October 2006, the Company has a dual listing on the Oslo Børs (the "OSE"). The Company intends to maintain its listing on the OSE, and shareholders who previously traded on the TSX can still trade on OSE.
Karl-Axel Waplan, President & CEO, Northland Resources S.A.
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 is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.