IberAmerican Announces Termination of Business Combination Agreement with Strategic Minerals
IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) has announced the termination of its previously planned business combination with Strategic Minerals Europe Corp. The decision came as the company was unable to complete the transaction by the agreed-upon deadline of July 31, 2024. Factors contributing to this outcome include prolonged obstacles, unfavorable capital market conditions, and uncertainties surrounding the future legal status of Strategic's mining licenses.
The amended and restated business combination agreement (BCA) dated June 15, 2024, has been allowed to lapse. Despite this setback, IberAmerican affirms its commitment to its strategic objectives and continues to explore opportunities aligned with its long-term growth plans.
IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) ha annunciato la cessazione della sua precedente pianificazione di combinazione aziendale con Strategic Minerals Europe Corp. La decisione è stata presa poiché l'azienda non è riuscita a completare la transazione entro la scadenza concordata del 31 luglio 2024. I fattori che hanno contribuito a questo esito includono ostacoli prolungati, condizioni sfavorevoli nel mercato dei capitali e incertezze riguardanti il futuro status legale delle licenze minerarie di Strategic.
L'accordo di combinazione aziendale modificato e ripristinato (BCA) datato 15 giugno 2024 è stato permesso di scadere. Nonostante questo contrattempo, IberAmerican riafferma il suo impegno verso i propri obiettivi strategici e continua a esplorare opportunità in linea con i suoi piani di crescita a lungo termine.
IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) ha anunciado la terminación de su combinación de negocios previamente planificada con Strategic Minerals Europe Corp. La decisión se tomó porque la compañía no pudo completar la transacción antes de la fecha límite acordada del 31 de julio de 2024. Los factores que contribuyeron a este resultado incluyen obstáculos prolongados, condiciones desfavorables del mercado de capitales e incertidumbres sobre el futuro estado legal de las licencias mineras de Strategic.
El acuerdo de combinación de negocios modificado y restablecido (BCA) con fecha 15 de junio de 2024 ha dejado de estar vigente. A pesar de este contratiempo, IberAmerican reafirma su compromiso con sus objetivos estratégicos y continúa explorando oportunidades alineadas con sus planes de crecimiento a largo plazo.
이베라메리칸 리튬 코퍼레이션(IberAmerican Lithium Corp.)(CBOE CA: IBER)(OTCQB: IBRLF)은 Strategic Minerals Europe Corp.과의 이전에 계획된 사업 결합을 중단한다고 발표했습니다. 이 결정은 회사가 2024년 7월 31일로 합의된 기한 내에 거래를 완료할 수 없었기 때문에 이루어졌습니다. 이러한 결과에 기여한 요인으로는 장기적인 장애물, 불리한 자본 시장 조건 및 Strategic의 광산 라이센스의 향후 법적 상태에 대한 불확실성이 포함됩니다.
2024년 6월 15일자 수정 및 재작성된 사업 결합 계약(BCA)은 만료되었습니다. 이 격차에도 불구하고 이베라메리칸은 전략적 목표에 대한 약속을 재확인하며 장기 성장 계획에 맞는 기회를 계속 탐색하고 있습니다.
IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) a annoncé la cessation de sa combinaison d'affaires préalablement prévue avec Strategic Minerals Europe Corp. Cette décision a été prise car l'entreprise n'a pas pu finaliser la transaction avant la date limite convenue du 31 juillet 2024. Les facteurs ayant contribué à ce résultat incluent des obstacles prolongés, des conditions défavorables sur le marché des capitaux et des incertitudes concernant le statut juridique futur des licences minières de Strategic.
Le contrat de combinaison d'affaires modifié et rétabli (BCA) en date du 15 juin 2024 a été laissé à l'expiration. Malgré ce revers, IberAmerican affirme son engagement envers ses objectifs stratégiques et continue d'explorer des opportunités alignées avec ses plans de croissance à long terme.
IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) hat die Beendigung der zuvor geplanten Unternehmenszusammenlegung mit Strategic Minerals Europe Corp. angekündigt. Diese Entscheidung wurde getroffen, da das Unternehmen die Transaktion nicht bis zur vereinbarten Frist am 31. Juli 2024 abschließen konnte. Faktoren, die zu diesem Ergebnis beigetragen haben, sind unter anderem langanhaltende Hindernisse, ungünstige Bedingungen auf den Kapitalmärkten und Unsicherheiten bezüglich des zukünftigen rechtlichen Status der Bergbaulizenzen von Strategic.
Der geänderte und neu gefasste Unternehmenszusammenlegungsvertrag (BCA) vom 15. Juni 2024 wurde als abgelaufen betrachtet. Trotz dieses Rückschlags bekräftigt IberAmerican sein Engagement für seine strategischen Ziele und setzt die Erkundung von Möglichkeiten, die mit seinen langfristigen Wachstumsplänen in Einklang stehen, fort.
- None.
- Failure to complete the business combination with Strategic Minerals Europe Corp.
- Potential loss of strategic growth opportunity
- Indication of challenging market conditions affecting corporate transactions
Toronto, Ontario--(Newsfile Corp. - August 2, 2024) - IberAmerican Lithium Corp. (CBOE CA: IBER) (OTCQB: IBRLF) (FSE: W2C) ("IberAmerican" or the "Company") regrets to announce that, due to prolonged obstacles, adverse capital market conditions and other uncertainties surrounding the future legal status of the mining licenses of Strategic Minerals Europe Corp. ("Strategic"), IberAmerican was not able to complete the previously announced business combination (the "Transaction") with Strategic Minerals Europe Corp. by the agreed upon closing deadline of July 31, 2024.
Consequently, after careful consideration and in accordance with the terms set forth in the amended and restated business combination agreement ("BCA") dated June 15, 2024 among IberAmerican, IberAmerican Resources Inc. and Strategic, IberAmerican has decided to allow the BCA to lapse in accordance with its terms.
IberAmerican remains committed to its strategic objectives and continues to explore opportunities that align with its long-term growth plans.
About IberAmerican Lithium Corp.
IberAmerican Lithium Corp. is a hard-rock lithium exploration company focused on advancing its
Additional information on IberAmerican is available at www.iberamericanlithium.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
To learn more visit: https://iberamericanlithium.com/
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including the Company's plans after the termination of the BCA in accordance with its terms. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of IberAmerican to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated March 26, 2024, which is available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Forward-looking statements contained herein, are made as of the date of this press release, and IberAmerican disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For further information, please contact:
IberAmerican Lithium Corp.
Campbell Becher
inquiries@ialithium.com
647-404-9071
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218636
FAQ
Why did IberAmerican Lithium Corp. (IBRLF) terminate its business combination agreement with Strategic Minerals?
When was the original business combination agreement between IberAmerican (IBRLF) and Strategic Minerals signed?
What is IberAmerican Lithium Corp.'s (IBRLF) plan following the termination of the Strategic Minerals deal?
What was the deadline for completing the business combination between IberAmerican (IBRLF) and Strategic Minerals?
