Northgold AB has on the 10th of April 2025, entered into an agreement with Nordic Resources Limited regarding the sale of all shares in its wholly owned Finnish subsidiaries, Fennia Gold Oy and Lakeuden Malmi Oy. The consideration in the Transaction comprises a combination of 70,000,000 newly issued shares in Nordic Resources and SEK 2,000,000 in cash. The total value of the Consideration amounts to approximately 34 MSEK.
Northgold AB (publ) is a Swedish exploration and development company listed on Nasdaq First North Growth Market. The company conducts several exploration projects in central Finland, with a primary focus on identifying and developing gold and copper deposits.
The Buyer, Nordic Resources, is a mineral exploration and development company focused on the Nordic region. Its shares are listed on the Australian Securities Exchange. Nordic Resources is actively building a portfolio of high-potential projects in Finland, leveraging strong regional expertise and a firm commitment to sustainable and responsible resource development.
Foyen acted as legal advisor for Northgold AB in the transaction, represented by partner Daniel Sjöholm and associate Anton Enoksson.
– From Northgold’s perspective, we are very pleased with this transaction. This will enable the continued development of our projects under a stronger and better-capitalized entity, which in turn increases the likelihood of realizing their full potential at a faster pace. We believe this creates a more solid foundation for long-term success. Foyen, represented by Daniel and Anton, has been highly appreciated as advisors throughout the process, says Roberto Garcia Martinez, Chairman of the Board in Northgold.
– First of all, I would like to thank Northgold for the trust and the opportunity to assist through this transaction where we could provide a positive outcome for all parties involved. In my role as an advisor, I always strive for solutions that create value for clients and shareholders, and we have certainly achieved that in this case, says Daniel Sjöholm, partner at Foyen.
