Hilo Mining Ltd (TSE:FIN) has released an update.
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European Energy Metals has secured full ownership of the Finnish Pegmatite Project through a purchase agreement with Capella Minerals Ltd., acquiring 100% interest by paying $250,000 and issuing 1.1 million shares, plus a 2% net smelter royalty. This strategic move, replacing the previous Earn-In Agreement, positions the company for expedited exploration and enhances its financial agility, as highlighted by the promising discovery of high-grade lithium at the Kyrola Prospect. The project is strategically located near a major lithium supply chain development by Keliber Oy, bolstering its potential value.
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