Reference is made to stock exchange release 23 March 2010 regarding closing and over-subscription of the subsequent offering of new shares in Nordic Mining. The management team in Nordic Mining has today been allocated new shares in the issue as follows:
CEO Ivar S. Fossum has been allocated 150,000 shares at a subscription price of NOK 1.00 per share. Fossum's new shareholding is 752,172 shares. In addition, Fossum has option to buy in total 900,000 shares in Nordic Mining; 450,000 shares at a price of NOK 2.625 per share, and 450,000 shares at a price of NOK 1.60 per share. The options are valid till June 2010.
CFO Lars K. Grøndahl has been allocated 365,000 shares at a subscription price of NOK 1.00 per share. Grøndahl's new shareholding is 2,514,851 shares. In addition, Grøndahl has option to buy in total 550,000 shares in Nordic Mining; 275,000 shares at a price of NOK 2.625 per share, and 275,000 shares at a price of NOK 1.60 per share. The options are valid till June 2010.
VP Commercial Ottar Nakken has been allocated 150,000 shares at a subscription price of NOK 1.00 per share. Nakken's new shareholding is 1,122,851 shares. In addition, Nakken has option to buy in total 550,000 shares in Nordic Mining; 215,000 shares at a price of NOK 3.15 per share, 60,000 shares at a price of NOK 2.625 per share, and 275,000 shares at a price of NOK 1.60 per share. The options are valid till June 2010.
VP Mining operation Paul I. Norkyn has been allocated 50,000 shares at a subscription price of NOK 1.00 per share. Norkyn's new shareholding is 192,851 shares. In addition, Norkyn has option to buy in total 275,000 shares in Nordic Mining at a price of NOK 1.60 per share. The options are valid till June 2010.
Exploration manager Mona Schanche has been allocated 14,105 shares at a subscription price of NOK 1.00 per share. Schanche's new shareholding is 46,956 shares. In addition, Schanche has option to buy in total 150,000 shares in Nordic Mining at a price of NOK 1.60 per share. The options are valid till June 2010.
For questions please contact CFO Lars K. Grøndahl, telephone +47 - 901 60 941.
Oslo, 25 March 2010
Nordic Mining ASA