VANCOUVER, BC, Dec. 2, 2024
/CNW/ - First Nordic Metals Corp. (the "Company"
or "FNM") (TSX.V: FNM) (OTCQB: FNMCF) (Germany: HEG0) is
excited to announce that it has initiated the process of applying
for a secondary listing of Swedish depository receipts ("SDRs"), a
financial instrument issued by a Swedish bank representing shares
in a non-Swedish company, on Nasdaq First North Growth Market
("Nasdaq First North") in Sweden.
The completion of the listing is contingent upon obtaining approval
from Nasdaq Stockholm but FNM's objective is to complete the
listing and start trading on Nasdaq First North during the first
quarter of 2025.
The decision to pursue a secondary listing on Nasdaq First North
reflects FNM's commitment to enhancing its presence in Sweden, a key part of the Company's strategy
moving forward. Recent additions to FNM's board of directors and
management team have brought significant technical expertise to its
key assets in Sweden, bolstered
operational efficiencies and expanded the Company's in-country
presence; all of which will be instrumental for FNM as it advances
its Gold Line ("Gold Line") Belt projects in northern Sweden, including the Barsele Project in joint
venture with Agnico Eagle Mines Limited. The secondary
listing will enable Swedish investors to participate in First
Nordic's growth more directly and it increases the Company's
exposure to analysts, institutional investors, and other
stakeholders in the region.
In preparation of the secondary listing on Nasdaq First North,
the Company intends to facilitate the conversion of common shares
of First Nordic to SDRs in Sweden,
where a notice to shareholders who seek to convert shares will be
issued in a separate news release closer to the first day of
trading.
Taj Singh, FNM President and
CEO comments: "The FNM story has been very well
received since our merger was completed in early 2024.
Listing our shares for trading on the Nasdaq First North will bring
new local shareholders in Sweden
to invest in Sweden's largest
undeveloped gold project, the Barsele Project ("Barsele"), as well
as ~100 kilometers of the Gold Line surrounding Barsele, hosting a
growing number of drill-ready mine-scale targets. Barsele is a
critical asset that could create thousands of jobs and leverage the
incredibly efficient "green energy" of northern Sweden, and the Gold Line targets further
provide FNM with world-class district-scale potential."
Augment Partners AB has been appointed as the Company's
Certified Adviser in connection with the listing process.
ABOUT NASDAQ FIRST NORTH
Nasdaq First North is a
marketplace for growth companies with strong investor demand, both
among retail and institutional investors. As one of the most liquid
and efficient cash equities markets in Europe, Nasdaq First North is currently home
to more than 550 traded growth companies. On average, more than
five companies grow and transfer to the Main Market each year.
ABOUT FIRST NORDIC METALS
The Company's flagship asset
is the Barsele gold project, located in northern Sweden and in a joint venture with senior gold
producer Agnico Eagle Mines Limited. Immediately surrounding the
Barsele project, FNM is the 100%-owner of a district-scale license
position of close to 100,000 hectares on Gold Line Belt.
Additionally, in northern Finland FNM is the 100%-owner of a
district-scale position covering the entire Oijärvi Greenstone
Belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Follow First Nordic Metals:
Twitter: @fnmetals
Youtube: @firstnordicmetalscorp
LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals
Instagram: @firstnordicmetals
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Forward-looking Statements
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forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the
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forward-looking statements in this press release are based upon
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reflected in these forward-looking statements are reasonable, it
can give no assurance that they will materialize or that the
assumptions on which it is based are correct. Because these
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to the content of this press release, unless it is required by law
or Nasdaq First North Growth Market Rulebook for Issuers of
Shares.
SOURCE First Nordic Metals Corp.