7.00am on 17 February 2025
Europa Metals
Ltd
("Europa
Metals", the "Company" or the "Group") (AIM, AltX: EUZ)
Viridian Metals Transaction
Update
and Restoration of Trading on
AIM
Europa Metals, ("Europa" or the "Company"), provides an
update on the potential transaction it announced with
Viridian Metals Ireland Limited, ("Viridian"), and its 100 % owned
Tynagh brownfield Pb/Zn/Cu/Ag project in the Republic of
Ireland.
As announced on 17 September 2024,
the Company entered into a conditional Term
Sheet regarding the acquisition of Viridian which
was binding as to a mutual 150 day period of exclusivity. This
period of exclusivity has now expired and Europa has decided not to
extend exclusivity over Tynagh via Viridian. The brownfield project
had significant positives which have warranted our work to date to
source the funding for near term feasibility work, which would then
evolve to permitting and development. Unfortunately, the Company
has been unsuccessful in this endeavour. Accordingly, the Company
will now pursue other opportunities.
In accordance with the AIM Rules,
trading in the Company's shares on AIM will be resumed with effect
from 7.30am on 17 February 2025. For the avoidance of doubt,
the Company's shares were not previously
suspended on the JSE Limited ("JSE") and continue to trade on the
JSE. Shareholders on the JSE are no longer required to exercise
caution when dealing in the Company's shares.
Pursuant to AIM Rule 15, the Company
has six months from its disposal of the
Toral Project, as announced on 13 November 2024, to make an
acquisition or acquisitions which constitutes a reverse takeover
under AIM Rule 14.
Commenting today Myles Campion
Executive Chairman and acting CEO said:
"Tynagh had all the right qualities
to be an operating mine in the near term and could be producing
significant cashflow for its size and relatively modest expected
CAPEX, but with current market conditions, finding the near term
funding to realise that goal has proved very difficult in Europe.
Europa will now renew its search for projects that can be brought
into the Company and add value for all shareholders"
For further information on the
Company, please visit www.europametals.com
or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director
and Company Secretary (Australia)
T: +61 8 9486 4036
E:
dsmith@europametals.com
Myles Campion, Executive Chairman
and acting CEO (UK)
E:
mcampion@europametals.com
Beaumont Cornish (Nominated
Adviser/Broker)
James Biddle/Roland
Cornish
T: +44 (0) 20 7628 3396
Questco Corporate Advisory
Proprietary Limited (JSE
Sponsor)
Danielle Christodoulou
T: +27 63 482 3802
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law pursuant to the European Union
(Withdrawal) Act 2018, as amended.
Nominated
Adviser
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
