Toronto stock exchange plans to dump company active in north Sweden and Finland

Karl-Axel Waplan, Northland Resources CEO. Photo: Alf Lindbergh. Radio Sweden.The Toronto stock exchange in Canada has decided to delist the mining company, Northland Resources, which is active in northern Sweden and Finland.

Northland has been having trouble financing a new iron ore mine in Pajala, in North Sweden, near the Finnish border.

According to a Northland press release, since the company decided to enter into corporate reconstruction for its three Swedish subsidiaries, the Toronto stock exchange believes the company has failed to meet the requirements to continue being listed.

Northland’s shares will remain suspended from trading until they are delisted at the close of market on March 18. The company hopes to reapply to the stock exchange after securing more funding.

Related Link:

Huge payout for managers of troubled mine in North Sweden, Radio Sweden

For more stories from Radio Sweden, click here

Radio Sweden

For more news from Sweden visit Radio Sweden.

Do you want to report an error or a typo? Click here!

Leave a Reply

Note: By submitting your comments, you acknowledge that Radio Canada International has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Radio Canada International does not endorse any of the views posted. Your comments will be pre-moderated and published if they meet netiquette guidelines.
Netiquette »

Your email address will not be published.