TORONTO, July 25, 2022 /CNW/ - Strategic Minerals Europe Corp. (NEO: SNTA) (FRA: 26K0) (OTCQB: SNTAF) ("Strategic Minerals" or the "Company"), a company focused on the production, development, and exploration of cassiterite concentrate, tantalite, and columbite concentrate, today announces its common shares have commenced trading on the OTCQB marketplace under the symbol "SNTAF." The Company's common shares will continue to trade on the NEO Exchange under the symbol SNTA and the Frankfurt Stock Exchange under the symbol 26K0.
The Company expects that the listing on the OTCQB will provide greater visibility and convenience of trading for U.S. investors, resulting in enhanced liquidity and greater reach. The Company's common shares are also eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC"). This electronic method of clearing securities speeds up the receipt of stock and cash. It thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a more comprehensive selection of brokerage firms by coming into compliance with their requirements.
"With this listing, U.S. investors will have the same ease of access as Canadian and European investors through our NEO and Frankfurt listings," said Jaime Perez Branger, CEO of Strategic Minerals. "We are focused on producing minerals that will drive the new economy in a conflict-free, mining-friendly jurisdiction, and look forward to sharing our story with a broader investor group."
Strategic Minerals operates the Penouta mine project in the province of Ourense in Spain. In 2022, the Company commissioned a new primary crushing plant at the facility and commenced open pit mining. A NI 43-101 report published in March 2021 by SRK stated that the Penouta project had Total Measured and Indicated Resources of 76.3 million tonnes. The mineral concentrate is estimated to contain approximately 70 percent tin (cassiterite) and 30 percent tantalum. The Company expects to maintain a production level of between 75 and 90 tonnes of concentrate per month in 2022.
Qualified Person
The technical contents of this news release have been reviewed and approved by Mr. Martin Pittuck, CEng, FGS, MIMMM an "independent qualified person" as defined in NI 43-101.
About Strategic Minerals Europe Corp.
Strategic Minerals' wholly-owned subsidiary, Strategic Minerals Spain, S.L. ("SMS"), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a license for the Penouta Project, which allows the Company to produce and conduct exploration, and an investigation permit at the Alberta II Project, allowing it to conduct exploration work already underway. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium and is exploring for lithium. Strategic Minerals is a "reporting issuer" under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including, without limitation, the Company's expectation that the OTCQB listing, coupled with DTC eligibility, should help expand the Company's exposure and liquidity for its U.S. based investors and shareholders. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals 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 "Risks Factors" in the Company's Annual Information Form dated March 29, 2022, which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein, including but not limited to the Company's ability to optimize and expand production, the increase in demand in the new green economy, the ability of to continue to meet working capital requirements, its ability to increase the quality of the concentrate, and the Company's expectation that it will reach a production level of between 75 and 90 tonnes of concentrate per month by the end of the second quarter of 2022, are made as of the date of this press release and Strategic Minerals 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.
Strategic Minerals' operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
SOURCE Strategic Minerals Europe Corp.
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