Vow Green Metals AS announced that it ahs entered into a subscription agreement to issue common shares for the gross proceeds of NOK 100 million on November 27, 2023. The transaction will include participation from new investor Vardar AS. Under the terms of the investment agreement, The investor will give a loan of NOK 50 000 000 to company.

The investor has the option to subscribe for shares in Vow Green Metals for a six months? period and use the Loan as a contribution in kind to settle the subscription consideration. The subscription price in the option agreement will be the lowest of NOK 3.20 per share, and five days volume weighted average price (VWAP) plus a 30 percent premium.