Strategic Minerals Europe Corp (TSE:SNTA) has released an update.
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Strategic Minerals Europe Corp. suffered a net loss of $1.4 million in Q1 2024 amid ongoing legal challenges and operational suspensions at its Penouta Project. The company has deferred its power purchase payments and entered into a business combination agreement with IberAmerican Lithium Corp., under which Strategic Minerals’ shareholders will receive IberAmerican shares. Additionally, the company secured a promissory note with IberAmerican, providing immediate funding with an 8% interest rate.
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