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LONDON - Europa Metals Ltd (AIM, AltX: EUZ), a mining company, today provided an update on its ongoing negotiations to acquire Viridian Metals Ireland Limited and its Tynagh brownfield project in the Republic of Ireland, which includes lead, zinc, copper, and silver resources.
The company reaffirmed the details of the conditional Term Sheet announced on September 17, 2024, which granted a 150-day exclusivity period for Europa Metals to complete the acquisition of Viridian. Both parties are actively working through the conditions precedent to finalize the transaction. Additionally, Europa Metals is in the process of securing near-term funding for the proposed acquisition and subsequent development of the Tynagh project, although discussions with potential financiers remain confidential and are not yet finalized.
Europa Metals' ordinary shares continue to be suspended from trading on the London Stock Exchange (LON:LSEG) (LSE) due to the company's inability to provide full disclosure under the AIM Rules. This suspension will remain in effect until an Admission Document is published or an announcement is made that the transaction will not proceed. However, trading on the JSE Limited (JSE) is not affected, and shareholders are advised to exercise caution when dealing in the company's shares until full disclosure is provided.
The company has committed to keeping shareholders informed as the transaction progresses. The acquisition, if completed, would represent a significant expansion of Europa Metals’ portfolio into the Irish mining sector.
This update is based on a press release statement from Europa Metals Ltd and contains no promotional material. The company's next steps are subject to successful negotiation outcomes and regulatory compliance.
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