Iberamerican Provides an Update on the Business Combination with Strategic Minerals
IberAmerican Lithium Corp. (IBRLF) has provided an update on its proposed acquisition of Strategic Minerals Europe Corp. The acquisition involves an amalgamation where IberAmerican will exchange 1 IberAmerican share for every 7 Strategic Minerals shares. This transaction was overwhelmingly approved by Strategic Minerals' shareholders at their May 24, 2024 meeting. CEO Campbell Becher expressed delight at the support and emphasized the synergies and long-term value this transaction could bring. The deal is subject to customary closing conditions and regulatory approval.
- Overwhelming approval for the amalgamation from Strategic Minerals' shareholders.
- Exchange ratio of 1 IberAmerican share for every 7 Strategic Minerals shares.
- CEO Campbell Becher highlights synergies and long-term value potential.
- Transaction aims to close soon, demonstrating urgency and commitment.
- Transaction is still subject to customary closing conditions and regulatory approval, which might delay finalization.
- Potential dilution for IberAmerican shareholders due to share exchange.
Toronto, Ontario--(Newsfile Corp. - May 27, 2024) - IberAmerican Lithium Corp. (CBOE: IBER) (OTCQB: IBRLF) (FSE: W2C.F) ("IberAmerican" or the "Company"), a company focused on the exploration of lithium, is pleased to provide an update on the previously announced proposed acquisition of Strategic Minerals Europe Corp. ("Strategic Minerals").
On May 24, 2024, Strategic Minerals held its annual and special meeting of shareholders (the "Meeting"). At the Meeting, the shareholders of Strategic Minerals overwhelmingly approved the amalgamation (the "Amalgamation") between IberAmerican Resources Inc., a wholly-owned subsidiary of IberAmerican, and Strategic Minerals. The Amalgamation is being completed in connection with the acquisition of Strategic Minerals by the Company as announced on March 20, 2024, pursuant to which, among other things, the outstanding common shares of Strategic Minerals (the "Strategic Shares") will be exchanged for common shares of IberAmerican (each, an "Iber Share") at an exchange ratio of 1 Iber Share for every 7 Strategic Shares held (the "Transaction").
Campbell Becher, Chief Executive Officer and Director of the Company said, "We are delighted by the overwhelming support shown by the shareholders of Strategic Minerals in favour of the Amalgamation and by extension the Transaction. This resounding vote of confidence reaffirms our vision for IberAmerican's future and underscores the synergies and opportunities that lie ahead. We eagerly anticipate closing the Transaction as soon as possible and are committed to delivering long-term value for our current and future stakeholders."
The Amalgamation will be completed under the Business Corporations Act (Ontario) and remains subject to customary closing conditions and regulatory approval. The Amalgamation and the Transaction are more fully described in the management information circular of Strategic Minerals (the "Circular") which is available under Strategic Minerals' profile on SEDAR+ at www.sedarplus.ca.
About IberAmerican Lithium Corp.
IberAmerican 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.
About Strategic Minerals Europe Corp.
Strategic Minerals' wholly owned subsidiary, Strategic Minerals Spain, S.L. ("SMS"), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a production license for the Penouta Project. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. Strategic Minerals is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium. Strategic Minerals is a "reporting issuer" under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Statements
Certain of the information contained in this news release constitutes 'forward-looking statements' within the meaning of securities laws. Such forward-looking statements, including but not limited to statements relating to the Transaction and the Amalgamation; the ability of the parties to satisfy the conditions to closing of the Transaction; and the anticipated timing of the completion of the Transaction and the Amalgamation, involves risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among others, obtaining required regulatory approvals, the exercise of any termination rights under the business combination agreement entered into by the Company, Strategic Minerals and IberAmerican Resources Inc. in connection with the Transaction (the "Business Combination Agreement"), any amendments to the Business Combination Agreement, meeting other conditions in the Business Combination Agreement, and material adverse effects on the business, properties and assets of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. 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, readers should not place undue reliance on forward-looking statements.
Further information
For further information, please contact:
IberAmerican Lithium Corp.
Cambell Becher, Chief Executive Officer
inquiries@ialitihium.com
647-404-9071
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210609
FAQ
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