Year-end report for the full year 2017

Currency SEK, TSEK, MSEK, is Swedish Kronor (SEK)

Second Half (July - December 2017) 

• Capitalized exploration costs for the second half of the year amounted to SEK 0.0 (0.0)
• Profit after tax for the second half of the year, excluding write-down of a reversal in 2016 amounted to MSEK -0.8 (-0.6)
• Earnings per share for the second half of the year amounted to SEK -0.03 (-0.15)

Full Year (January - December 2017) 

• Capitalized exploration costs for the full year amounted to MSEK 0 (0)
• Profit after tax for the full year amounted to MSEK -1.6 (-3.7)
• The result excluding write-downs of a 2016 repurchase amounted to MSEK -1.6 (-1.1)
• Earnings per share for the full year amounted to SEK -0.05 (-0.17)
• Equity per share at the end of the period amounted to SEK 1.11 (1.39)

Significant events during the second half 

• On November 8, an Extraordinary General Meeting resolved to conduct an acquisition of Norrbotten Exploration AB with its subsidiary Norrbotten Minerals AB. The acquisition was carried out as a share issue. The number of issued shares amounted to 21 557 970.
• The EGM also decided that the company, with its new focus on exploring for large deposits of base metals such as copper and zinc, would be renamed Arctic Minerals AB.
• The AGM resolved to change the quota value from SEK 1.1125 to SEK 0.60.
• Peter Walker, Chairman and John Pedersen, were elected new Board members.
• In order to limit the number of Board members to five, Tord Cederlund offered to resign from being a member of the board of directors for the newly elected. He continues to maintain the position as Managing Director. The Board then consists of Peter Walker, Chairman, Claes Levin, Deputy Chairman, Hanne Markussen Eek, John Pedersen and Krister Söderholm.
• The EGM also decided to authorize the Board to implement a new issue at the appropriate time
• On November 30, the share issue was registered with the Swedish Companies Registration Office. The price per share then amounted to SEK 0.91. Through the issue, the company received 42 new shareholders.
• To reduce the company's debt, on December 29, the acquisition of shares in Botnia Exploration AB was sold by the company in 2017. The price was at the same price as the purchase price.

Significant events after the end of the period 

• Based on the authorization of the Extraordinary General Meeting of 8 November 2017, the Board of Directors decided on 24 January 2018 to issue 20 055 000 new shares to a limited number of investors in a directed issue. The issue was carried out at SEK 0.65 per share and raised SEK 13 074 350 before issue costs.
• The issue has been registered with the Swedish Companies Registration Office, and Arctic Minerals has subsequently 63 171 942 issued shares and a share capital of SEK 37 902 556. Ten new shareholders were added to the issue.

For full report, see attached document.

Stockholm February 15, 2018

For further information, please contact:
Tord Cederlund, CEO,
Phone: 073-6200 997
Email: [email protected]

The following documents can be retrieved from beQuoted
Arctic Minerals Year end report 2017.pdf

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