NORDIC MINES AB (PUBL) Quote from Nasdaq's remark.
"The stock exchange can note that Nordic Mines AB does not comply with the requirements for listing requirements (section 2.4.2 of the regulations) concerning capacity for information disclosure (section 2.4.3 of the regulations), and that there appear to be significant deficiencies regarding the board (section 2.4.1 of the regulations ).
In the light of the above, and based on paragraph 2.9.2 (2) of the regulatory framework, the stock exchange expect to receive a thorough statement of what measures the company intends to take and how these measures mitigates the above requirements are to be met. Such a statement shall be announced no later than Friday 21 July 2017. The trade stop that the stock exchange has decided on today will last at least until the stock exchange receives the company's statement.
When the stock exchange receives feedback from the company around above, we will take a stand on how we proceed on the matter.
Due to the fact that the company is not deemed to comply with the applicable listing requirements, the stock exchange has decided to update the observation of the company's share, point 2.7 (i) of the regulatory framework, against this background."
Nordic Mine's response
The company and the board work intensively to resolve the issues Nasdaq has pointed out and intend to return to the stock exchange before July 21 with an answer.
For more information about Nordic Mines, please visit www.nordicmines.com.
For additional information, please contact:
Torbjorn Bygden
Company Secretary & Investor Relations
Torbjorn.Bygden@azets.net
00 46 (0) 70 301 45 46
Lindhagensgatan 94, Box 34212
10026 Stockholm
Nordic Mines AB (publ.) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 July 2017.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in Finland produced gold between 2011 and 2014. The deposit is among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share has been admitted for trading on Nasdaq Stockholm's Small Cap list. For further information, see www.nordicmines.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via Globenewswire
