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Deutsche Rohstoff AG
M&A Activity • Jun 11, 2018
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M&A Activity
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Corporate | 11 June 2018 14:00
Deutsche Rohstoff AG: Tin International sells Sadisdorf and Hegelshöhe licenses to Joint Venture partner Lithium Australia
DGAP-News: Deutsche Rohstoff AG / Key word(s): Disposal
11.06.2018 / 14:00
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff AG: Tin International sells Sadisdorf and Hegelshöhe licenses to Joint Venture partner Lithium Australia
Total consideration amounts to EUR 2 million
Mannheim/Leipzig/Perth. Tin International AG sells 100% interest in its Sadisdorf and Hegelshöhe licenses in the eastern part of the German Ore Mountains to the current Joint Venture partner Lithium Australia NL (ASX: LIT). The total consideration amounts to EUR 2 million of which EUR 0.5 million will be paid in cash and EUR 1.5 million paid in LIT shares. The shares are subject to a sales restriction of 6-18 months. The transaction will result in a pre-tax profit of approximately EUR 1.5 million for Deutsche Rohstoff. The sale will become effective when certain conditions precedent are fulfilled, including the consent of the responsible Upper Mining Authority for the transfer of the licenses. The parties expect the sale to be closed within the upcoming months.
Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: “We are pleased to announce the sale of our licenses Sadisdorf and Hegelshöhe. Lithium Australia is well positioned to develop these tin-lithium deposits and benefit with their SiLeach-technology from the upcoming boom of electric cars. We are happy to become a significant shareholder of LIT and participate in the further development of the company.”
Mannheim, 11 June 2018
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 621 490 817 0
11.06.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Q7, 24 | |
| 68161 Mannheim | |
| Germany | |
| Phone: | 0621 490 817 0 |
| Fax: | 0621 490 817 22 |
| E-mail: | [email protected] |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76, DE000A1R07G4, |
| WKN: | A0XYG7, A1R07G |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |