May 8, 2024

On 6 May 2024, GRANGEX announced that it had completed the acquisition of 100% of the share capital of Sydvaranger Mining AS from OMF Fund II H Ltd (“Orion”). Further to the above announcement, the Company is today pleased to announce that it has executed an offtake agreement (“Offtake Agreement”) with Anglo American.

May 6, 2024

GRANGEX is today pleased to announce that it has completed the acquisition of Sydvaranger. As a result of the acquisition, GRANGEX is today the 100% owner of both the Sydvaranger Mine and the 100% owner of its existing Dannemora Mine. GRANGEX’s stated strategy is to restart production of ultra-high-grade direct reduction magnetite concentrate at both mines and to become a leading supplier to the European and global steel industries as they undergo the current ‘green steel revolution’.‍

April 8, 2024

On 30 November 2023, GRANGEX AB announced that it had executed a conditional sale and purchase agreement with OMF Fund II H Ltd (“Orion”) for the acquisition of 100% of the share capital and shareholder loans of Sydvaranger Mining AS (“Sydvaranger”). Further to that announcement, the Company is today pleased to announce that it has entered into an extension agreement with Orion whereby the Long Stop Date (the date by which the acquisition has to be completed) has been extended to 1 May 2024.