Due to legal restrictions, the information on this part of Bluelake Mineral AB (publ)'s website is not accessible to certain persons. We kindly ask you to review the following information and provide the following confirmation each time you wish to access these websites.
Due to legal restrictions, the information on this part of Bluelake Mineral AB (publ)'s website is not accessible to certain persons. We kindly ask you to review the following information and provide the following confirmation each time you wish to access these websites. Please note that the terms set out below may be altered or updated and therefore it is important that you review them each time you visit this page.
In certain jurisdictions, the publication or distribution of the information on the following websites may be subject to legal restrictions and all persons accessing these websites should inform themselves about and abide by such legal restrictions.
The information contained in this section of Bluelake Mineral AB (publ)'s website is not intended for, and must not be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to persons resident or physically present in the United States of America (the "United States"), Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, Switzerland or any other state or jurisdiction where such action is wholly or partially unlawful or would require prospectuses, other offer documentation, registration or other measures than those required by Swedish law. The information on the following pages is not directed to persons located in the United States, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, Switzerland or in any other jurisdiction where the offer or sale of subscription rights, paid subscribed shares, shares or other securities (together, the "Securities") is not permitted. The information on the websites does not constitute any offer regarding any Securities issued by Bluelake Mineral AB (publ) to any person in said jurisdictions. The information on the websites may not be forwarded or reproduced in such a manner that contravenes such restrictions or gives cause to such requirements. Failure to comply with these instructions may result in a violation of the United States Securities Act of 1933, as amended (the "Securities Act) or securities regulations applicable in other jurisdictions.
None of the Securities have been or will be registered under the Securities Act, or the securities laws of any state or other jurisdiction in the United States, and may not be offered, subscribed for, used, pledged, sold, resold, allotted, delivered or otherwise transferred, directly or indirectly, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable other securities laws. There will not be any public offering of any of the Securities in the United States.
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During the past year, Bluelake Mineral has taken significant steps in the development of the Joma and Stekenjokk-Levi copper and zinc project, both of which are mines that have previously been in production but where there are remaining mineral resources for an estimated 20 years of mining. Since these deposits have previously been in operation, there is solid knowledge of geology, historical operational data, organization and functioning processes for enrichment, among other things. Through the planned disposal of waste material underground in old quarried mine tunnels in combination with the implementation of modern technology in, for example, automation, electrification of mining and transport technology, and water treatment, there are uniquely good opportunities for environmentally sustainable operations. The local and regional support for the restart of mining operations is strong among residents, businesses and political decision-makers, which is crucial for the successful establishment of the project. Financially, the project is attractive due to a relatively low capital investment for the restart of the mine and a strong expected cash flow during the life of the mining project, supported by expected stable and high prices for both copper and zinc.
Copper (Cu) is the central metal in Bluelake Minerals' Joma and Stekenjokk-Levi mining projects. The copper price has stabilised at a high level and future demand is expected to remain strong. Globally, a structural shortage of copper is expected, as supply decreases as large mines reach the end of their life, while demand increases driven by electrification, renewable energy, data center expansion, and large infrastructure investments. The EU's Critical Raw Materials Act (CRM Act) creates better conditions for safe, sustainable and domestic deliveries of critical raw materials, thereby reducing import dependency on, for example, copper from countries such as Chile, China and the United States. This policy framework, combined with the market trends, creates favorable conditions for Bluelake Minerals' Nordic mining projects. The investment to restart mining in the Nordic region is thus, according to the company, timely, and Bluelake Mineral has already achieved several important milestones that strengthen the conditions for successful future development:
The next steps to enable production start-up include an environmental permit, mining license and a Preliminary Feasibility Study (also referred to as "PFS"). To carry out these crucial steps, the company estimates that a capital requirement of approximately SEK 90 million exists over the next two years, which in turn forms the basis for, at a later stage, securing large-scale project financing for the construction of the mine and future production. To carry out the PFS, move forward in the permit processes until approval and obtain any soft financing, the company intends to carry out the fully guaranteed rights issue.
Upon full subscription in the rights issue, the company will receive proceeds of approximately SEK 61.3 million before issue costs. The issue costs are estimated to amount to a maximum of approximately SEK 10.7 million, provided that all guarantors in the top guarantee and the bottom guarantee choose cash compensation. Considering the above-mentioned reasons, as well as the milestones that await in the coming years, the company intends to allocate the net proceeds from the rights issue for the following purposes:
Subscription period:
September 29, 2025 – October 13, 2025 (please note that some nominee’s close subscriptions at an earlier date).
Trading with unit rights:
September 29, 2025 – October 8, 2025.
Subscription with preferential rights:
The right to subscribe for the new shares in the rights issue shall, with preferential rights, be granted to the shareholders in proportion to the number of shares they own, whereby one (1) existing share as of the record date on September 25, 2025, shall entitle to one (1) subscription right and eleven (11) subscription rights shall entitle to subscription of four (4) new shares.
Subscription price:
The subscription price in the rights issue amounts to SEK 1.55 per share.
Issue proceeds:
Upon full subscription in the rights issue, Bluelake Mineral will receive approximately SEK 61.3 million before issue costs.
Over-allotment Option:
Subject to full subscription, the Board of Directors may decide to include an over-allotment option of up to approximately SEK 15.3 million.
Subscription commitments:
The rights issue is covered by 39.2 percent of subscription commitments, corresponding to approximately SEK 20.2 million.
Underwriting commitments:
The company has received top issue guarantees from several existing shareholders and semi-institutional investors as well as Norwegian regional investors of approximately SEK 26.3 million, corresponding to 42.9 percent of the rights issue. In addition to the top issue guarantees, several investors have provided bottom issue guarantees of approximately SEK 14.8 million, corresponding to 24.1 percent of the rights issue.
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