Denarius Metals Announces Closing of Acquisition of 100% Interest in the Toral Zn-Pb-Ag Project in Northern Spain
Rhea-AI Summary
Denarius Metals Corp. (DNRSF) has completed the acquisition of 100% of Europa Metals Iberia S.L. (EMI) from Europa Metals , securing full ownership of the Toral Zn-Pb-Ag Project in Leon Province, Northern Spain. As part of the transaction, Denarius issued 7,000,000 common shares to Europa, subject to a hold period until March 13, 2025. Europa also assigned to Denarius its receivable for amounts advanced to EMI, totaling approximately EUR 3.7 million. The previous Option and Loan Agreements from November 22, 2022, between the parties have been terminated.
Positive
- Acquired 100% ownership of Toral Zn-Pb-Ag Project in Spain
- Gained control of EUR 3.7 million in receivables from EMI
Negative
- Share dilution through issuance of 7,000,000 new common shares
News Market Reaction – DNRSF
In the trading session that priced this news, DNRSF declined 4.15%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - November 12, 2024) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has closed its previously announced acquisition of
In conjunction with the closing of the Acquisition, the Company issued 7,000,000 common shares of the Company to Europa. These common shares are subject to a hold period ending on March 13, 2025. In addition, Europa also assigned to the Company its receivable for all amounts advanced to EMI, amounting to approximately EUR 3.7 million, on closing of the Acquisition. The former Option and Loan Agreements dated November 22, 2022 between Europa and the Company were terminated on closing of the Acquisition.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts.
In Spain, the Company owns a
In Colombia, Denarius Metals is carrying out construction activities at its
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information," which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals 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 "Risk Factors" in the Company's Annual Information Form dated April 25, 2024 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals 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.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229663