Nordic Gold Provides Production and Financing Update
TSX VENTURE: NOR
Vancouver, BC / TheNewswire / April 18, 2019 - NORDIC GOLD INC. (TSX-V: NOR) ("Nordic" or the "Company") today announced that since starting production on 30th November 2018, the company has poured and sold 8,238 ounces of gold.
In addition, Pandion Mine Finance, has agreed to fund the company during the care and maintenance period via a series of monthly loans to cover the costs of care and maintenance. The loan requirements will be reviewed each month and, if conditions precedent are met, funds provided will bear interest at 12% per annum.
Management continues to source funds to recapitalize the company and are in advanced discussions with several parties interested in refinancing existing facilities, conducting exploration and upgrading the resource. Jett Capital Advisors LLC of New York have also introduced Nordic to several interested parties. Currently five NDAs are in place to enable interested parties to conduct due diligence. Interested parties range from major and junior gold producers, to large mining funds and investment groups.
The process of engaging another contractor has begun. A scope of work has been issued and several competitively priced proposals have been received.
For further information, please contact:
President and Chief Executive Officer
(416) 419 5192
About the Company
Nordic Gold Inc. is a junior mining company with a near production gold mine in Finland. The Laiva Gold Mine is fully built, fully permitted and financed to production via a gold forward sale agreement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date those statements were prepared, the statements are not a guarantee of the Company's future performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.
The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this new release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.