Dannemora Mineral seeks waiver Dannemora Mineral i

Dannemora Mineral issued a press release on 28 May stating that discussions would commence with bondholders on the terms and structure of its bonds. Since then, Dannemora Mineral has been engaged in constructive discussions with a group of bondholders holding approximately 71 percent of the bonds. Dannemora Mineral will be seeking a temporary waiver from the minimum liquidity covenant in the bond agreement (ISIN NO 0010601198), which requires it to maintain a minimum cash liquidity of 50 million kronor. Dannemora Mineral is likely to breach the covenant periodically during the third quarter. A majority of bondholders have indicated that they will accept the waiver request in return for, inter alia, due diligence access for bondholders. Today, the Bond Trustee, Norsk Tillitsmann (NTM), will summon the bondholders to a bondholders’ meeting, due to be held on 5 August 2013, in order that a formal approval of the waiver request can be made. Dannemora Mineral has commenced a review of its operations, strategy and financial development, and has retained Swedbank First Securities, Recore AS and Roschier Advokatbyrå AB as advisers, while NTM has retained Bingham McCutchen (London) LLP as its legal adviser for and on behalf of the bondholders. For further information, please contact: Ralf Nordén, President and  CEO Telephone 46 709374891 ralf.norden@dannemoramineral.se Dannemora Mineral AB is a mining and exploration company of which the primary activity is mining operations in the Dannemora iron ore mine. The Company also engages in exploration activities to increase the iron ore base locally and regionally in several areas in Uppland where the potential for finding mineable deposits is considered good. Dannemora Mineral comprises the Parent Company Dannemora Mineral AB and the wholly owned subsidiaries Dannemora Magnetit AB (responsible for operation of the Dannemora mine and the Group’s exploration activities) and Dannemora Förvaltnings AB (responsible for the property portfolio) and Dannemora Iron Ore Development AB, where parts of the company’s future exploration will be operated. The Company’s most important asset is the iron deposit in the Dannemora Mine, and activity is focused mainly on the mining of this deposit at present. The Company is listed on NASDAQ OMX First North, Stockholm, and Oslo Axess. The Company's Certified Adviser on First North is Remium AB. The Company's independent qualified person is mining engineer Thomas Lindholm, Geovista AB, Luleå. Lindholm is qualified as a Competent Person as defined in the JORC Code based on education and experience in exploration, mining and estimation of mineral resources of iron, base and precious metals.