Strategic Minerals Announces Insolvency Proceedings of Spanish Subsidiary
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) has announced that its wholly-owned Spanish subsidiary, Strategic Minerals Spain, S.L.U. (SMS), has entered voluntary structured insolvency proceedings. This includes the appointment of an insolvency administrator by the Spanish court. The company's operations at the Penouta tin-tantalum mine in Spain remained suspended due to a court decision to provisionally suspend the section C permit.
Following the termination of a business combination agreement with IberAmerican Lithium Corp. on August 1, 2024, Strategic Minerals failed to secure new financing sources. As a result of these developments, the company has announced its intention to voluntarily delist its common shares from Cboe Canada Inc., subject to approval.
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) ha annunciato che la sua sussidiaria spagnola interamente posseduta, Strategic Minerals Spain, S.L.U. (SMS), è entrata in procedimenti di insolvenza strutturata volontaria. Questo include la nomina di un amministratore per l'insolvenza da parte del tribunale spagnolo. Le operazioni della società presso la miniera di stagno-tantalio di Penouta in Spagna sono rimaste sospese a causa di una decisione del tribunale di sospendere provvisoriamente il permesso di sezione C.
Dopo la risoluzione di un accordo di combinazione aziendale con IberAmerican Lithium Corp. il 1° agosto 2024, Strategic Minerals non è riuscita a garantire nuove fonti di finanziamento. Come risultato di questi sviluppi, la società ha annunciato la propria intenzione di ritirare volontariamente le proprie azioni ordinarie da Cboe Canada Inc., soggetta ad approvazione.
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) ha anunciado que su filial española de propiedad total, Strategic Minerals Spain, S.L.U. (SMS), ha iniciado un procedimiento de insolvencia estructurada voluntaria. Esto incluye la designación de un administrador concursal por parte del tribunal español. Las operaciones de la empresa en la mina de estaño-tantalio de Penouta en España permanecieron suspendidas debido a una decisión judicial que suspendió provisionalmente el permiso de la sección C.
Tras la resolución de un acuerdo de combinación de negocios con IberAmerican Lithium Corp. el 1 de agosto de 2024, Strategic Minerals no logró asegurar nuevas fuentes de financiación. Como resultado de estos desarrollos, la empresa ha anunciado su intención de retirar voluntariamente sus acciones ordinarias de Cboe Canada Inc., sujeto a aprobación.
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF)는 완전 소유한 스페인 자회사인 Strategic Minerals Spain, S.L.U. (SMS)가 자발적인 구조 조정 파산 절차에 들어갔음을 발표했습니다. 이는 스페인 법원에 의해 파산 관리자가 임명되는 것을 포함합니다. 회사의 스페인 펜우타 주석-탄탈럼 광산에서의 운영은 법원 결정으로 인해 중단된 상태입니다.
2024년 8월 1일에 IberAmerican Lithium Corp.와의 사업 결합 계약이 종료된 이후 Strategic Minerals는 새로운 자금 조달원을 확보하는 데 실패했습니다. 이러한 발전의 결과로, 회사는 Cboe Canada Inc.에서 보통주를 자발적으로 상장 폐지하겠다는 의도를 발표했습니다, 승인을 조건으로.
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) a annoncé que sa filiale espagnole entièrement possédée, Strategic Minerals Spain, S.L.U. (SMS), a engagé une procédure d'insolvabilité structurée volontaire. Cela inclut la nomination d'un administrateur judiciaire par le tribunal espagnol. Les opérations de l'entreprise à la mine d'étain-tantal de Penouta en Espagne sont restées suspendues en raison d'une décision du tribunal de suspendre provisoirement le permis de section C.
Suite à la résiliation d'un accord de combinaison d'entreprise avec IberAmerican Lithium Corp. le 1er août 2024, Strategic Minerals n'a pas réussi à sécuriser de nouvelles sources de financement. En conséquence, l'entreprise a annoncé son intention de retirer volontairement ses actions ordinaires de Cboe Canada Inc., sous réserve d'approbation.
Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) hat bekannt gegeben, dass ihre vollständig im Besitz befindliche spanische Tochtergesellschaft, Strategic Minerals Spain, S.L.U. (SMS), ein freiwilliges strukturiertes Insolvenzverfahren eingeleitet hat. Dies umfasst die Ernennung eines Insolvenzverwalters durch das spanische Gericht. Die Aktivitäten des Unternehmens in der Zinn-Tantal-Mine Penouta in Spanien sind aufgrund eines Gerichtsbeschlusses, der die vorläufige Aussetzung der Abschnitt-C-Genehmigung vorsieht, ausgesetzt geblieben.
Nach der Beendigung eines Unternehmenszusammenschlussvertrags mit IberAmerican Lithium Corp. am 1. August 2024 konnte Strategic Minerals keine neuen Finanzierungsquellen sichern. Infolge dieser Entwicklungen hat das Unternehmen seine Absicht bekannt gegeben, seine Stammaktien freiwillig von Cboe Canada Inc. abzuziehen, vorbehaltlich der Genehmigung.
- None.
- Strategic Minerals Spain, S.L.U. (SMS) has entered voluntary structured insolvency proceedings
- Operations at the Penouta tin-tantalum mine remain suspended due to permit issues
- Failed to secure new sources of financing
- Intention to voluntarily delist common shares from Cboe Canada Inc.
Toronto, Ontario--(Newsfile Corp. - September 25, 2024) - Strategic Minerals Europe Corp. (Cboe CA: SNTA) (FSE: 26K0) (OTC Pink: SNTAF) ("Strategic Minerals" or the "Company"), today announces that its wholly-owned Spanish subsidiary, Strategic Minerals Spain, S.L.U. ("SMS"), has commenced a voluntary structured insolvency process that includes the appointment of an insolvency administrator over SMS and its property by the Spanish court.
As previously disclosed, despite the Company's eagerness to resume operations during the first half of 2024, operations remained suspended due to the Superior Court of Xustiza of Galicia's decision to provisionally suspend the section C permit for the Company's Penouta tin-tantalum mine in Spain (the "Penouta Project"). Following the termination of the previously announced business combination agreement between the Company and IberAmerican Lithium Corp. on August 1, 2024, the Company has failed to secure new sources of financing.
As a result of the insolvency proceedings for SMS, the Company also announces its intention to voluntarily delist its common shares from Cboe Canada Inc. (the "Delisting"). The Delisting will be subject to, among other things, Cboe Canada Inc. approval.
About Strategic Minerals Europe Corp.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR+ at www.sedarplus.ca.
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. 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 Strategic Minerals 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 27, 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 Strategic Minerals 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.
SOURCE Strategic Minerals Europe Corp.
Further Information
For further information regarding Strategic Minerals, please contact:
Elena Terrón, Corporate Secretary
Strategic Minerals Europe Corp.
eterron@strategicminerals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224596
FAQ
What insolvency proceedings has Strategic Minerals Europe Corp. (SNTAF) announced?
Why are operations suspended at Strategic Minerals' (SNTAF) Penouta Project in Spain?
What happened to Strategic Minerals' (SNTAF) business combination agreement with IberAmerican Lithium Corp.?
What action is Strategic Minerals (SNTAF) taking regarding its stock listing?
