STRATEGIC MINERALS EUROPE CORP - SNTAF STOCK NEWS

Strategic Minerals Europe Corp. (SNTAF) reported Q2 2024 financial results, highlighting ongoing challenges due to the suspension of operations at its Penouta Project. Key points include:

1. Net loss of $1.283 million in Q2 2024, compared to net income of $0.008 million in Q2 2023.
2. Operations remain suspended due to a court decision, which the company is appealing.
3. Termination of a business combination agreement with IberAmerican Lithium Corp.
4. Approval of a restructuring plan for commercial suppliers with overdue debts totaling €2,486,421.
5. Cash position of $0.013 million as of June 30, 2024, with current liabilities of $8.926 million.
6. The company is exploring legal options and alternative financing solutions to address its financial situation.

Strategic Minerals Europe and IberAmerican Lithium have entered into an amended and restated business combination agreement (BCA), which modifies the original agreement from March 19, 2024. This agreement allows IberAmerican to acquire all of Strategic Minerals' shares. Key amendments include extending the termination date to July 31, 2024, provisions for securities issued during IberAmerican's private placement announced on June 3, 2024, and maintaining Strategic Minerals' warrants listed on Cboe Canada Inc. post-closing. The updated agreement also addresses additional developments and ancillary matters since the original BCA.

Strategic Minerals Europe and IberAmerican Lithium announced that the Superior Court of Xustiza of Galicia (TSXG) has upheld its decision to suspend the section C permit for the Penouta tin-tantalum mine. The permit was initially challenged by Ecoloxistas en Acción, an environmental group, against the local mining authority, Xunta de Galicia. Despite this setback, Strategic Minerals and IberAmerican are exploring legal options, including a potential appeal to the Supreme Court of Spain. The section B permit remains unaffected, allowing exploitation of tailings and waste deposits. Both companies are committed to the Penouta Project and sustainable development, with a business combination between them approved by a majority of shareholders.

Strategic Minerals Europe Corp. (CBOE CA: SNTA, OTCQB: SNTAF, FSE: 26K0) announced the results of its annual and special shareholders meeting held on May 24, 2024. Shareholders approved the amalgamation with IberAmerican Resources, a subsidiary of IberAmerican Lithium, with a 99.99% majority. The merger involves exchanging Strategic Shares for Iber Shares at a 1:7 ratio. Additionally, all board nominees were elected with over 99% approval, and 55.7% of issued shares were voted. Other resolutions, including the re-appointment of auditors McGovern Hurley LLP and the re-approval of the stock option plan, were also passed.

Strategic Minerals Europe Corp. (Cboe CA: SNTA) announced its Q1 2024 financial results. The company, focused on tin, tantalum, and niobium, reported a net loss of $1.4 million, up from $1.3 million in Q1 2023. The suspension of operations at its Penouta Project due to a court decision severely impacted production, leading to no revenue generation for the quarter. Cash reserves fell to $0.25 million against liabilities of $7.3 million. Strategic Minerals entered into a business combination agreement with IberAmerican Lithium Corp., where shareholders will receive one IberAmerican share for every seven Strategic Minerals shares. The company has also deferred payments related to its solar energy coverage until operations resume.

Strategic Minerals Europe Corp. provides an update on the Section C permit for its Penouta tin-tantalum mine in Spain following a court decision. The company's permit has been provisionally suspended pending a final verdict.

Strategic Minerals Europe Corp. announces a business combination agreement with IberAmerican Lithium Corp. and IberAmerican Resources Inc. The agreement involves the acquisition of all Strategic Shares by Iber, with each shareholder receiving one Iber Share for every seven Strategic Shares held. The Proposed Transaction will be completed through a three-cornered amalgamation under Ontario laws, subject to shareholder and regulatory approvals. The completion is expected in June 2024, leading to the delisting of the Company from Cboe Canada.