Toronto, Ontario–(September 25, 2024) – Strategic Minerals Europe Corp. announced today that its wholly-owned Spanish subsidiary, Strategic Minerals Spain, S.L.U., has initiated a voluntary structured insolvency process, which includes the appointment of an insolvency administrator by the Spanish court.
Despite the Company’s efforts to resume operations in the first half of 2024, operational activities at the Penouta tin-tantalum mine in Spain were suspended due to a court decision. After the termination of a business combination agreement with IberAmerican Lithium Corp. on August 1, 2024, the company was unable to secure new sources of financing.
As a result of the insolvency proceedings, the company also plans to voluntarily delist its common shares from Cboe Canada Inc., subject to approval.
For more information on Strategic Minerals Europe Corp., please visit their profile on SEDAR at www.sedarplus.ca.
This news release contains forward-looking statements based on current expectations, estimates, and projections as of the release date. Actual results may differ materially from these forward-looking statements due to various risks and uncertainties. These risks are detailed in the Company’s Annual Information Form dated March 27, 2024, available on SEDAR.
Strategic Minerals Europe Corp. disclaims any obligation to update forward-looking statements, except as required by law. For further information, please contact Elena Terrón, Corporate Secretary at eterron@strategicminerals.com.
Source: Strategic Minerals Europe Corp.
