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IberAmerican Lithium Corp. issued a statement in response to OTC Markets' request concerning recent promotional activities related to its shares on the OTCQB market. The company acknowledged that it had engaged Gold Standard Media and its affiliates for investor relations and advertising services. This resulted in newsletters promoting the company and its business combination with Strategic Minerals Europe. IberAmerican confirmed that it reviewed and approved the content of these newsletters. There was a notable increase in trading activity of the company’s shares starting May 28, 2024. The company stressed that it adheres to OTC Markets' stock promotion policies and encourages investors to rely on official press releases and filings.
IberAmerican Lithium announced the appointment of Mike Jones as its new Chief Operating Officer, effective May 30, 2024. Jones, a mining engineer with over 40 years of global experience, will oversee mining operations and the exploration of lithium assets. Notably, he will manage tin and tantalum operations at the Penouta mine, following the anticipated business combination with Strategic Minerals Europe. Jones' extensive background includes roles in mining operations, securities analysis, and executive positions at African Minerals and Hatch Consulting, where he focused on M&A due diligence and business improvement. CEO Campbell Becher believes Jones' diverse experience will benefit IberAmerican's growth.
IberAmerican Lithium Corp. (IBRLF) has provided an update on its proposed acquisition of Strategic Minerals Europe Corp. The acquisition involves an amalgamation where IberAmerican will exchange 1 IberAmerican share for every 7 Strategic Minerals shares. This transaction was overwhelmingly approved by Strategic Minerals' shareholders at their May 24, 2024 meeting. CEO Campbell Becher expressed delight at the support and emphasized the synergies and long-term value this transaction could bring. The deal is subject to customary closing conditions and regulatory approval.
IberAmerican Lithium Corp. (CBOE: IBER, OTCQB: IBRLF, FSE: W2C) announced its Q1 2024 financial results, reporting a net loss of $1.46 million ($0.01 per share). As of March 31, 2024, the company held cash and cash equivalents of approximately $1.8 million. The company aims to secure final permits for the Alberta II and Carlota lithium projects in Spain and will commence further exploratory operations.
On March 20, 2024, IberAmerican entered a business combination agreement with Strategic Minerals Europe Corp., aiming to acquire all issued and outstanding shares of Strategic Minerals. The company plans to change its name to IberAmerican Resources Inc. to reflect its broader mineral portfolio. The transaction is expected to close around June 15, 2024. CEO Campbell Becher highlighted anticipated positive cashflow and value creation upon lifting the provisional suspension at the Penouta Project.
IberAmerican Lithium Corp. (IBER) has engaged Ms. Hannah Badenach as the Senior Commodities Strategist, bringing over 20 years of experience in resources, supply chains, and commodity trading across global markets. Ms. Badenach's role will involve establishing a commodity marketing, offtake, and supply chain strategy for the Company's mineral properties, including the Penouta Project in Spain.
IberAmerican Lithium Corp. (CBOE: IBER) (OTCQB: IBRLF) provided an update on its plans to resume production at the Penouta Project and announced a proposed business combination with Strategic Minerals Europe Corp. The company is also engaging Spark Newswire for investor relations and consulting services. Additionally, the board of directors has authorized a name change to IberAmerican Resources Inc.
IberAmerican Lithium Corp. announces the approval process for a proposed business combination with Strategic Minerals Europe Corp., requiring security holder approval. The board recommends the Written Resolution, and details the beneficial ownership of certain members of the Board. Additionally, the Company plans a short form vertical amalgamation with its subsidiary, IberAmerican Resources Inc., leading to a Name Change to 'IberAmerican Resources Inc.'
