Regulatory press release

Viscaria's major shareholders lend SEK 315 million and announce intention to participate in upcoming Rights Issue

Viscaria today announces that the company has entered into an agreement for a shareholder loan of approximately SEK 315 million from its major shareholders TomEnterprise AB, Jan Ståhlberg, Santhe Dahl, and SEB Stiftelsen (the “Shareholder Loan”).

The purpose of the Shareholder Loan is to secure financing in line with the timeline for the planned reopening of the mine.

Under the agreement, the company can utilize the Shareholder Loan, in whole or in part, latest January 15, 2024. The loan is unsecured, carries an annual interest rate of 10 percent without amortization, and repayment, along with accrued interest, due no later than June 30, 2026. According to the terms of the loan, there is an option for and an intention from the lenders to set-off the loan amount into shares in a future share issue.

"We would like to thank our major shareholders for the significant trust they show us through this financial support. Once our environmental permit is finalized and the profitability study is presented, we will accelerate the financing for the mine's restart. Our plan is to carry out a rights issue so that no shareholder will be involuntarily diluted. This financing, along with the announcement of intention to set-off in a Rights Issue, demonstrates great confidence from our largest shareholders," says Jörgen Olsson, CEO of Viscaria.

“We see this as a very exciting investment opportunity. Viscaria has consistently demonstrated that it is following a stable and predictable plan that is impressive. I believe Viscaria is excellently positioned to play a key role in increasing Sweden’s and Europe’s self-sufficiency in copper,” says Thomas von Koch at TomEnterprise.

As previously communicated, the initial investment for the mine's reopening is estimated to be approximately SEK 4.5 – 5 billion (excluding running operating costs) and is planned to be financed with approximately 60 percent debt and 40 percent equity.

About Viscaria
Gruvaktiebolaget Viscaria is a company that is scaling up to become a modern and responsible producing mining company through the reopening of the Viscaria mine in Kiruna. The deposit's high copper grade, assessed mineral resources, geographical location and growing team of experienced employees provide good conditions for the company to become an important supplier of high-quality and responsibly produced copper - a metal that has a central role in Sweden's and Europe's climate transition. In addition to the Viscaria mine, the company holds a number of processing concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan) - all in Sweden. The Parent Company's shares are listed on Nasdaq Stockholm Main Market (ticker VISC).