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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.
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