Capella Announces Termination of Agreement with Polar Transition for the Sale of its Central Norway Copper Assets
Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) has announced the termination of its asset sale agreement with Polar Transition Minerals AS for the sale of its central Norway copper assets. The agreement, initially announced on October 17, 2023, and amended on April 9, 2024, was terminated following the elapse of the July 7, 2024 long stop date. As a result, Capella regains 100% interest in its portfolio of high-grade copper-cobalt projects in the former Løkken and Røros mining districts, Trøndelag Province.
The company plans to pursue alternative strategies for advancing these projects, with a particular focus on the drill-ready targets at Åmot and Hessjøgruva. Eric Roth, Capella's President and CEO, stated that while the transaction was worth pursuing due to shared strategic vision, both companies are better served by moving forward independently at this stage.
Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) ha annunciato la risoluzione del suo accordo di vendita di attività con Polar Transition Minerals AS per la vendita dei suoi asset di rame in Norvegia centrale. L'accordo, inizialmente annunciato il 17 ottobre 2023 e modificato il 9 aprile 2024, è stato risolto a seguito del trascorrere della data di scadenza del 7 luglio 2024. Di conseguenza, Capella riacquista il 100% di interesse nel suo portafoglio di progetti di rame-cobalto di alta qualità nei precedenti distretti minerari di Løkken e Røros, nella provincia di Trøndelag.
L'azienda prevede di perseguire strategie alternative per far progredire questi progetti, con particolare attenzione agli obiettivi pronti per la perforazione ad Åmot e Hessjøgruva. Eric Roth, Presidente e CEO di Capella, ha dichiarato che, sebbene la transazione fosse interessante a causa di una visione strategica condivisa, entrambe le aziende sono meglio servite procedendo in modo indipendente in questa fase.
Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) ha anunciado la finalización de su acuerdo de venta de activos con Polar Transition Minerals AS para la venta de sus activos de cobre en el centro de Noruega. El acuerdo, anunciado inicialmente el 17 de octubre de 2023 y modificado el 9 de abril de 2024, fue finalizado tras la expiración de la fecha límite del 7 de julio de 2024. Como resultado, Capella recupera el 100% de interés en su cartera de proyectos de cobre-cobalto de alta calidad en los antiguos distritos mineros de Løkken y Røros, en la provincia de Trøndelag.
La empresa planea seguir estrategias alternativas para avanzar en estos proyectos, con un enfoque particular en los objetivos listos para perforar en Åmot y Hessjøgruva. Eric Roth, Presidente y CEO de Capella, declaró que, aunque la transacción valía la pena perseguir debido a una visión estratégica compartida, ambas empresas están mejor servidas avanzando de manera independiente en esta etapa.
카펠라 미네랄스 (TSXV: CMIL) (OTCQB: CMILF)는 폴라 전환 미네랄스 AS와 중앙 노르웨이의 구리 자산 판매를 위한 자산 판매 계약의 종료를 발표했습니다. 이 계약은 2023년 10월 17일에 처음 발표되었고 2024년 4월 9일에 수정되었으며, 2024년 7월 7일 연장 날짜가 경과한 후 종료되었습니다. 그 결과, 카펠라는 이전 록켄 및 뢰로스 광산 지역에서 고품질 구리-코발트 프로젝트 포트폴리오에서 100%의 이권을 회복합니다.
회사는 Åmot 및 Hessjøgruva의 드릴 준비 목표에 특히 중점을 두고 이 프로젝트를 진행하기 위한 대체 전략을 추구할 계획입니다. 카펠라의 회장 겸 CEO인 에릭 로스는 전략적 비전을 공유하고 있는 만큼 거래를 추구할 가치가 있었지만, 당사자들은 이 단계에서 독립적으로 나아가는 것이 더 좋다고 밝혔습니다.
Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) a annoncé la résiliation de son accord de vente d'actifs avec Polar Transition Minerals AS pour la vente de ses actifs de cuivre en Norvège centrale. L'accord, annoncé initialement le 17 octobre 2023 et modifié le 9 avril 2024, a été résilié après l'expiration de la date limite du 7 juillet 2024. En conséquence, Capella retrouve 100% d'intérêts dans son portefeuille de projets de cuivre-cobalt de haute qualité dans les anciens districts miniers de Løkken et Røros, dans la province de Trøndelag.
L'entreprise prévoit de poursuivre des stratégies alternatives pour faire avancer ces projets, en se concentrant particulièrement sur les cibles prêtes à être forées à Åmot et Hessjøgruva. Eric Roth, président et PDG de Capella, a déclaré que même si la transaction valait la peine d'être poursuivie en raison d'une vision stratégique partagée, les deux entreprises seraient mieux servies en avançant indépendamment à ce stade.
Capella Minerals (TSXV: CMIL) (OTCQB: CMILF) hat die Beendigung seines Verkaufsvertrags für Vermögenswerte mit Polar Transition Minerals AS für den Verkauf seiner Kupferanlagen in Zentralnorwegen bekannt gegeben. Der Vertrag, der zunächst am 17. Oktober 2023 und anschließend am 9. April 2024 geändert wurde, wurde nach Ablauf des endgültigen Datums am 7. Juli 2024 beendet. Infolgedessen erlangt Capella 100% des Interesses an seinem Portfolio von hochgradigen Kupfer-Kobalt-Projekten in den ehemaligen Bergbauregionen Løkken und Røros in der Provinz Trøndelag zurück.
Das Unternehmen plant, alternative Strategien zur Förderung dieser Projekte zu verfolgen, mit besonderem Fokus auf die bohrbereiten Ziele in Åmot und Hessjøgruva. Eric Roth, Präsident und CEO von Capella, erklärte, dass die Transaktion zwar aufgrund einer gemeinsamen strategischen Vision lohnenswert gewesen sei, dass jedoch beide Unternehmen in dieser Phase besser bedient seien, wenn sie unabhängig vorankämen.
- Capella regains 100% interest in its high-grade copper-cobalt projects in central Norway
- Company to focus on advancing drill-ready targets at Åmot and Hessjøgruva
- Termination of asset sale agreement with Polar Transition Minerals AS
- Potential delay in project development due to failed transaction
Eric Roth, Capella's President and CEO, commented: "Whilst we believed that this transaction was worth pursuing, as we share a similar strategic vision to Polar, we have decided that, at this stage, both companies are better served by terminating the asset sale agreement and moving forward independently.
Capella now regains a
On Behalf of the Board of Capella Minerals Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
About Capella Minerals Ltd
Capella is a Canadian exploration and development company with a focus on copper-gold projects in the Central Lapland Greenstone Belt of northern
In northern
In the Trøndelag province of central
Capella holds equity positions in Teako Minerals (TSXV: TMIN), Prospector Metals (TSXV: PPP), European Energy Metals (TSXV: FIN), and Unico Silver (ASX: USL) as a direct result of the recent divestiture of non-core assets. Capella also retains direct participation (
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in Capella's most recently filed MD&A. Capella does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
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SOURCE Capella Minerals Limited
FAQ
What happened to Capella Minerals' agreement with Polar Transition for the sale of its Norway copper assets?
What assets does Capella Minerals (CMILF) now control in Norway after the termination of the agreement?
What are Capella Minerals' (CMILF) plans for its Norway copper assets following the termination of the sale agreement?
