The shareholders of Bluelake Mineral AB (publ), company registration no 556493-3199 (the "Company"), are hereby invited to participate in the Annual General Meeting ("AGM") to be held May 12, 2022 at 10 am at Brahegatan 29, 114 37 Stockholm, Sweden.
Shareholders that wish to participate in the procedures at the AGM must: by no later than May 4, 2022 be recorded as shareholders in the share register kept by Euroclear Sweden AB, and by no later than May 6, 2022 give notice to the Company of their intention to participate in the AGM. Notice shall be given in writing by e-mail at [email protected] (marked AGM Bluelake Mineral) or by mail addressed to Bluelake Mineral AB (publ), c/o Advokatbyrån Simonsson AB, Sjöbackarna 13, 456 94 Hunnebostrand. In providing such notice the shareholder should state its name, address, personal registration number or company registration number, telephone number, shareholdings and if applicable, the number of accompanying assistants (a maximum of two). The notice must also, where applicable, for example regarding legal entities, be accompanied by complete authorization documents such as a registration certificate or equivalent.
Shareholders who are represented by proxy must submit to the Company a written, signed and dated power of attorney for the representative. The period of validity of the power of attorney may not exceed five years provided it has been specifically stated. If no period of validity is stated, the power of attorney is valid for a maximum of one year. If the power of attorney is issued by a legal entity, a certified copy of the registration certificate or equivalent must be submitted to the Company by mail together with the original copy of the power of attorney in good time before the AGM at the address mentioned above. The registration certificate may not be issued earlier than one year before the date of the AGM. Power of attorney forms are available at the Company's website www.bluelakemineral.com.
In order to be entitled to participate in the meeting, a shareholder who has his shares registered with a nominee must, in addition to giving notice of its intention to participate in the AGM, have the shares registered in his own name so that the shareholder is included in the share register on the record date on May 4, 2022. Such re-registration may be temporary (so-called voting rights registration) and is requested from the nominee according to the nominee's routines at such time in advance as the nominee decides. Registration of voting rights made by the nominee no later than May 6, 2022, will be taken into account in the presentation of the general meeting share register.
Shareholders representing approximately 10.4 % of the votes in the Company (the "Shareholders") propose that the Annual General Meeting (the "AGM") resolves that the Company shall have one (1) auditor. The Shareholders proposals for the number of board members that the board shall consist of will be presented at the latest in connection with the AGM.
The Shareholders propose that the AGM resolves that, for the period until the next AGM, the Chairman of the Board shall be remunerated with SEK 140,000 and other ordinary Board members shall be remunerated with SEK 120,000 each. It is proposed that the auditor be remunerated against an approved invoice.
The Shareholders proposals for the election of Board members will be presented at the latest in connection with the AGM. The Shareholders propose that the auditing company Öhrlings PricewaterhouseCoopers AB be re-elected as the Company's auditor with the authorized public accountant Henrik Boman as the principal auditor.
The Board of Directors proposes that the AGM resolves to authorize the Board of Directors to, with deviation from the shareholders' preferential rights, until the time of the next AGM, on one or more occasions, resolves to issue new shares, warrants and / or convertibles. Payment can be made against cash payment and / or through payment in kind and / or through set-off. Issue in accordance with the authorization shall take place on market terms, subject to any market issue discount, which the Company's Board of Directors deems to prevail on each individual occasion.
The Board's decision on the issue of shares, warrants and / or convertibles may result in a total increase in the number of shares in the Company by a maximum of 9,300,000 shares (in the event of full subscription with the support of such warrants and / or full conversion of such convertibles and before any recalculation according to the terms of the warrants and / or the convertibles). Upon full utilization of the authorization, the dilution amounts to approximately 15 percent calculated on the current number of shares in the Company.
The AGM's resolution is valid only if it has been supported by shareholders holding not less than two-thirds of both the votes cast and the shares represented at the meeting.
The Board of Directors proposes that the AGM resolves to authorize the Board of Directors to, without deviation from the shareholders' preferential rights, until the time of the next AGM, on one or more occasions, resolves to issue new shares, warrants and / or convertibles. Payment can be made against cash payment and / or through payment in kind and / or through set-off. Issue in accordance with the authorization shall take place on market terms, subject to any market issue discount, which the Company's Board of Directors deems to prevail on each individual occasion. The Company's share capital and the number of shares may, with the support of the authorization, be increased by a total of an amount or number that falls within the limits of the current Articles of Association.
Number of shares and votes in the Company
At the time of the issuance of this notice, the total number of registered shares and votes in the Company amounts to 52 769 838. The Company does not hold any own shares.
The annual report and auditor's report will be kept available at the Company's office and website no later than three (3) weeks before the general meeting. The complete proposals under item 8-12 will be available at the Company's office and website at the latest two (2) weeks prior the general meeting. Copies of the documents will be sent, free of charge, on request to such shareholders who provide their address from the date they come available. Shareholders of the Company are, where the board of directors believes that it that it may take place without significant harm to the Company, at the general meeting entitled to receive information in respect of any circumstances which may affect the assessment of a matter on the agenda (i.e. the right to request information pursuant to Chapter 7, Sections 32 and 57 of the Swedish Companies Act).
Stockholm, April 2022
Bluelake Mineral AB (publ)
The Board of Directors
For additional information, please contact:
Peter Hjorth, CEO, Bluelake Mineral AB (public), phone +46-725 38 25 25
Email: [email protected]
General information about the Company
Bluelake Mineral AB (pull) is an independent Swedish company active in exploration and mine development of copper, zinc, nickel and gold resources.
The Company owns approximately 99% of the subsidiary Vilhelmina Mineral AB, which is focusing on development of copper and zinc deposits in the Nordic region. In Sweden, the Company owns Stekenjokk-Levi project, where a total of approximately 7 million tonnes of ore were mined between 1976 and 1988 with an average grade 1.5% Cu and 3.5% Zn. Stekenjokk-Levi is, according to a recent Mineral Resource Estimate by SRK Consulting, containing inferred mineral resources of approximately 6.7 million tonnes with 0.9 % Cu, 2.7 % Zn, 0.6 % Pb, 55 Ag g/t and 0.2 g/t Au for Stekenjokk and inferred mineral resources of 5.1 million tonnes with 1.0 % Cu, 1.5 % Zn, 0.1 % Pb, 22 Ag g/t and 0.2 g/t Au for Levi (at a NSR cut-off of 60 USD/t). In Norway, the Company is owner in the Joma field, where approximately 11.5 million tonnes of ore were processed between 1972 and 1998 with an average grade of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is, according to a recent mineral estimate by SRK Consulting, containing indicated mineral resources of approximately 6 million tonnes with grades amounting to 1.00 % Cu and 1.66 % Zn and inferred resources of 1.2 million tonnes with grades 1.2 % Cu and 0.7 % Zn (at cut-off of 50 USD/t).
In addition, the Company owns the nickel projects Rönnbäcken (which is Europe's largest known undeveloped nickel resource) and Orrbäcken in Sweden. According to a recently updated mineral resource update by the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 600 million tonnes with an average grade of 0.18% Ni, 0.003% Co and 5.7% Fe ("measured and indicated"). The updated preliminary economic assessment that SRK completed predicts a production of 23,000 tonnes of nickel, 660 tonnes of cobalt and 1.5 million tonnes of iron per year for 20 years, which would be a significant proportion of Sweden's total annual use of nickel which thereby has a strategic value. Orrbäcken is an exploration license that is considered to have potential as a nickel deposit.
The Company owns the gold project Haveri, through its subsidiary Palmex Mining Oy, which in 2014 carried out a so-called Preliminary Economic Assessment (PEA) prepared by SRK Consulting. This report estimates 1.56 million oz. historically inferred mineral resource of gold equivalents with a grade of 0.93 g/t gold.) Kattisavan is mainly considered to have potential as a gold resource and is located within the so-called gold line, close to projects such as Svartliden, Fäboliden and Barsele.
First Quarter 2023 (January - March)
The shareholders of Bluelake Mineral AB (publ) ("Bluelake" or the "Company") have held an Annual General Meeting on May 11, 2023 (the "AGM") whereby the following main decisions were made.
Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is, as previously announced, via its Norwegian subsidiary Joma Gruver AS, working with the permit process in Norway to implement a so-called plan program and to obtain an approved zoning plan which is a detailed plan for the industrial area for the proposed mining operations in Joma in Røyrvik municipality in Trøndelag county. On May 9, Røyrvik municipality submitted a revised version of the zoning plan for consideration and decided to send it to a new consultation round and put it out for public review. The time for consultation responses ends in six weeks on June 26. This would mean that the municipal board in Røyrvik could make a decision to accept the regulation plan at the beginning of September.
Bluelake Mineral AB (publ) ("The Company" or "Bluelake Mineral") has, via its Norwegian subsidiary Joma Gruver AS, commissioned the opinion polling institute Kantar to conduct an opinion poll among the residents of the surrounding municipalities of Røyrvik, Namsskogan and Lierne in Trøndelag county concerning the attitude to the re-establishment of the Joma mine. Data collection was carried out in the period 29 March to 11 April through an SMS-based survey and the response rate was a total of 32%. The survey shows, among other things, that 80% of the residents are positive regarding re-establishing the mine, of which 63% are very positive. Furthermore, eight out of 10 respondents believe that the mining operations can work in parallel with the reindeer herding in the area. Those who are positive about mining point to new jobs, increased population growth and better municipal finances as the main reasons. Those who are negative to mine establishment state the impact on the environment and reindeer herding as the main reasons.
The shareholders of Bluelake Mineral AB (publ), company registration no 556493-3199 (the "Company"), are hereby invited to participate in the Annual General Meeting ("AGM") to be held May 11, 2023, at 10 am at Brahegatan 29, 114 37 Stockholm, Sweden.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Bluelake Mineral AB (publ) ("Bluelake Mineral" or the "Company") has completed the rights issue of units with the subscription period between 21 March and 4 April 2023 (the "Rights issue"). The Rights issue has been subscribed to approximately 75.0 per cent and the Company will receive approximately SEK 19.8 million before deduction of issue costs. The subscription price in the Rights issue was SEK 10.00 per unit, where one unit consisted of ten new shares and five warrants of series TO3 free of charge. 988,340 units, corresponding to approximately 37.4 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with unit rights. 32,740 units, corresponding to approximately 1.2 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed without unit rights. The outcome entails that underwriting commitments for a total of 963,420 units, corresponding to approximately 36.4 per cent of the Rights Issue, will be claimed, whereby the Rights issue is subscribed to approximately 75.0 per cent in total. The net proceeds from the Rights issue will be used to finance the permit processes in Joma and Stekenjokk-Levi, project development in Rönnbäcken, repayment of outstanding loans, as well as overhead and contingency costs.
Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is, as previously announced, via its Norwegian subsidiary Joma Gruver AS, working with the permit process in Norway to implement a so-called plan program and to obtain an approved zoning plan which is a detailed plan for the industrial area for the proposed mining operations in Joma in Røyrvik municipality in Trøndelag county. Due to certain previous administrative handling errors, Røyrvik municipality decided in June 2022 to transfer responsibility for the administrative handling of the process to the larger neighboring municipality of Grong. Grong municipality has now communicated that they intend to present the regulatory plan for consideration by the municipal board in Røyrvik at the next meeting on May 9. At this meeting, a decision is expected to send the revised regulatory plan out to a public consultation round for six weeks. This would mean that the municipal board in Røyrvik could make a decision to accept the regulatory plan at the beginning of September.
The shareholders of Bluelake Mineral AB (publ) ("Bluelake" or the "Company") have held an Extraordinary General Meeting on March 29, 2023 (the "EGM") whereby the following main decisions were made.