Oct. 20 at 3:33 PM
$ULTHF
LOI with Swedish Minerals AB (“SM”) to acquire all of the issued and outstanding shares of SM to establish a leading Nordic-based strategic-metals explorer with a diversified portfolio of lithium, uranium, and rare-earth assets positioned to support Europe’s accelerating clean-energy transition and nuclear-power resurgence.
Consideration: $ 5 million, and
$450,000 in cash, payable as a
$50,000 non-refundable deposit upon execution of the LOI and
$400,000 at Closing (unless an exclusivity extension is exercised, in which case the balance shall be adjusted as set forth below), all on a pro rata basis. All Shares issued in connection with the Transaction shall be subject to applicable resale restrictions and prior Canadian Securities Exchange (the “Exchange”) approval.
The acquisition unites United’s lithium dev portfolio with SM’s high-grade uranium and rare-earth portfolio spanning Finland and Sweden, two of Europe’s most mining-friendly and energy-independent jurisdictions.
