3/08-2013 10:17:11: (NAUR) Northland's Reorganizations are Successfully Terminated
Luxembourg, August 23, 2013 - Northland Resources S.A. (OSE: NAUR,
Frankfurt: NPK, Nasdaq OMX/First North: NAURo - "NRSA" or the "Company"
and, together with its subsidiaries, "Northland") announces that the
reorganizations of the Swedish subsidiaries Northland Resources AB
(publ), Northland Sweden AB and Northland Logistics AB have been
terminated today.
On August 8, 2013, it was announced that Northland requested that the
reorganizations of the subsidiaries were to be terminated since the
reorganization plan and the composition of the companies had entered
into force and become legally binding. This was approved by the court on
the July 12. Thus, the purpose of the company's reorganizations was
fulfilled. The decision by the District Court of Luleå to terminate the
reorganizations was made today and will apply with immediate effect.
For more information, please contact:
Eva Kaijser, CFO: +46 709 320 901
Jonas Lundström, SVP Corporate Communication: +46 705 493 338
Petter Brunnberg, Investor Relations: +46 727 24 41 09
Or visit our website: www.northland.eu
Northland is a producer of iron ore concentrate, with a portfolio of
production, development and exploration mines and projects in northern
Sweden and Finland. The first construction phase of the Kaunisvaara
project is complete and production ramp-up started in November 2012. The
Company expects to produce high-grade, high-quality magnetite iron
concentrate in Kaunisvaara, Sweden, where the Company expects to exploit
two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has
entered into off-take contracts with three partners for the entire
production from the Kaunisvaara project over the next seven to ten
years. The Company is also preparing a Definitive Feasibility Study
("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in
Kolari, northern Finland and for the Pellivuoma deposit, which is
located 15 km from the Kaunisvaara processing plant.
Forward-Looking Information
This announcement may include "forward-looking" information within the
meaning of applicable securities laws. This forward-looking information
can be identified by the use of forward-looking terminology, including
the terms "believes", "estimates", "anticipates", "expects", "intends",
"may", "will" or "should" or, in each case, their negative, or other
variations or comparable terminology. This forward-looking information
includes all matters that are expectations concerning, among other
things, Northland's ability to meet its continuous disclosure and MCTO
obligations, the likelihood of Northland rectify its default under
Canadian Securities laws, Northland's results of operations, financial
condition, liquidity, prospects, growth, strategies and the industry in
which it operates. By their nature, forward-looking information involves
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Readers are
cautioned that forward-looking information is not a guarantee of future
performance and that Northland's actual results of operations, financial
condition and liquidity, and the development of the industry in which it
operates may differ materially from those made in or suggested by the
forward-looking information contained in this press release. In
addition, even if Northland's results of operations, financial condition
and liquidity, and the development of the industry in which Northland
operates are consistent with the forward-looking information contained
in this press release, those results or developments may not be
indicative of results or developments in subsequent periods.
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