KOPY GOLDFIELDS COMPLETES THE REVERSE TAKEOVER OF AMUR ZOLOTOKopy Goldfields AB (publ) ("Kopy Goldfields" or the "Company") today announces the completion of the reverse takeover (the "Transaction") of Amur Gold Company Limited ("Amur Zoloto") where the Company has acquired 100 percent of Amur Zoloto and added significant gold operations and thereby created a leading Russia-focused Mid-Cap Gold Exploration and Production Group. "We are proud that we managed to complete the transaction on schedule despite COVID-19 restrictions. We will now proceed with the integration of the companies operations and I look forward to welcome employees of Amur Zoloto to Kopy Goldfields and to lead the combined company when we now enter the next phase on our growth journey", said Mikhail Damrin, CEO of Kopy Goldfields.
The Transaction was subject to shareholder approval at the annual general meeting of Kopy Goldfields on 30 June 2020, certain regulatory approvals such as merger control clearance, and completion of confirmatory due diligence. As consideration for 100 percent of the shares in Amur Zoloto, Kopy Goldfields has issued 782,179,706 new shares in Kopy Goldfields to the sellers of Amur Zoloto. Through the share issue, the share capital in the Company has increased by SEK 297,401,370.61 to SEK 336,878,175.63 and the number of shares and votes have increased by 782,179,706 to 886,005,575. The value of the Amur Zoloto shares have, in accordance with IFRS, been valued and booked in the Company's balance sheet at SEK 1,838,122,309.10 as of the transaction date, which is 1 September 2020. The subscription price per share was SEK 2.35 based on the above valuation.
The share issue together with registration of the new articles of association as well as Eric Forss and Arsen Idrisov as new board members, are now completed and registered with the Swedish Companies Registrations Office (Sw. Bolagsverket). All conditions have been fulfilled and the Transaction is now completed.
Amur Zoloto will be consolidated into Kopy Goldfields financial statements as of 1 September 2020. Kopy Goldfields plan to announce pro-forma figures for the combined company, including Amur Zoloto, for the first half year 2020, during September 2020.
For further information about the Transaction, reference is made to the announcement on May 29, 2020, 30 June 2020, 17 August 2020, 25 August 2020, the Company Description and the notice to the annual general meeting and complete proposals for the annual general meeting available at the Company's website www.kopygoldfields.com/pressreleases. For more information, please contact:
Mikhail Damrin, CEO, +7 916 808 12 17, [email protected]
Tim Carlsson, CFO, + 46 702 31 87 01, [email protected]
The following documents can be retrieved from beQuoted
Kopy Goldfields Pressrelease.pdf About Kopy Goldfields AB
Kopy Goldfields AB (publ) ("Kopy") is a leading Swedish gold exploration and production company operating in the most renown gold mining regions of Russia. Kopy's strategy is to combine Russian geologic knowledge and science with international management, "best industry practices" and modern and efficient technology to identify and develop mineral deposits in a cost-efficient, safe and transparent way. The Company is listed on NASDAQ First North Growth Market in Stockholm.
Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Hagberg & Aneborn Fondkommission acts as Certified Adviser, contact number: +46 8 408 933 50, e-mail: [email protected].
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Ticker: KOPY
http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE77457
Outstanding shares: 886,005,575
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