Strategic Metals Disinterested Shareholders Approve Tombstone Belt Transaction

Rhea-AI Summary

Strategic Metals (TSX-V:SMD) has announced that disinterested shareholders approved a related party transaction with Trifecta Gold. In a special meeting on June 24, 2024, shareholders voted to allow Trifecta to potentially acquire up to 100% interest in the Mount Hinton and ten other gold projects in the Tombstone Gold Belt, Yukon Territory. This approval follows the initial announcement made on March 4, 2024.

Positive

• Shareholders approved the transaction, indicating support for strategic decisions.
• Potential full acquisition of 11 gold projects by Trifecta Gold, which could maximize asset value.

Negative

• Transaction approval by only disinterested shareholders may indicate potential conflicts of interest.

VANCOUVER, BC / ACCESSWIRE / June 25, 2024 / Strategic Metals Ltd. (TSX-V:SMD) ("Strategic") announces that at a special meeting of its shareholders held on June 24, 2024, disinterested Strategic shareholders approved a related party transaction with Trifecta Gold Ltd. ("Trifecta"), pursuant to which Trifecta has the right to acquire up to 100% interest in the Mount Hinton and ten other highly prospective, intrusion-related gold projects located in the Tombstone Gold Belt of Yukon Territory, as announced by Strategic on March 4, 2024.

About Strategic Metals Ltd.

Strategic is a project generator with 13 royalty interests, 14 projects under option to others, and a portfolio of 82 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $1.7 million and large shareholdings in several active mineral exploration companies including 32.8% of Broden Mining Ltd., 33.4% of GGL Resources Corp., 29.6% of Rockhaven Resources Ltd., 16.2% of Silver Range Resources Ltd and 15.6% of Precipitate Gold Corp. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO₂ Technologies Holdings Inc. ("Terra"), a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently announced a definitive agreement with Asher Materials for an exclusive market license of Terra's first commercial-scale advanced processing facility.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"
President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View the original press release on accesswire.com

FAQ

What was approved by disinterested shareholders of Strategic Metals on June 24, 2024?

Disinterested shareholders approved a related party transaction with Trifecta Gold, allowing Trifecta to potentially acquire up to 100% interest in the Mount Hinton and ten other gold projects in the Tombstone Gold Belt.

Which projects are involved in the Strategic Metals transaction with Trifecta Gold?

The projects involved include the Mount Hinton and ten other highly prospective, intrusion-related gold projects located in the Tombstone Gold Belt, Yukon Territory.

When was the related party transaction between Strategic Metals and Trifecta Gold initially announced?

The related party transaction was initially announced on March 4, 2024.

What is the stock symbol for Strategic Metals?

The stock symbol for Strategic Metals is SMDZF.