Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update today from European Metals Holdings Limited (“European Metals” “EMH” or “the Company”) that that it has appointed DGWA, the German Institute for Asset and Equity Allocation and Valuation (“Deutsche Gesellschaft für Wertpapieranalyse GmbH”, “DGWA”), a mining and resource focused European investment banking boutique, as its Investor and Corporate Relations advisor in Europe.
With offices in Frankfurt, Berlin and Vienna as well as representatives in Australia and Canada, DGWA will focus on the growing interest within the German-speaking financial community in the considerable investments being committed to the country’s electric vehicle and energy storage systems industry.
DGWA will collaborate with EMH to help gain investor awareness and drive investment opportunities from the European financial markets and will provide investor relations services to help European Metals position itself in the German-speaking financial markets. DGWA will also introduce EMH to its extensive network within the European corporate and federal community to assist the Company in exploring offtake-agreements and potential grants and subsidies.
Proposed Czech Listing
Cadence is also pleased to note that EMH is in discussions with the Prague Stock Exchange regarding the proposed listing of the Company’s securities. Given the high profile that the Cinovec Project has within the Czech Republic, EMH wishes to provide the opportunity for Czechs to invest directly via their domestic exchange.
Accordingly, EMH has arranged an interim funding facility to assist in financing these new initiatives and ongoing operations. The facility has been provided by an Australian based sophisticated investor, 6466 Investments Pty Ltd, and allows for a draw down of up to AUD 1 million in tranches as required over 12 months. Any funds drawn down will convert to CDI’s in the Company at a 15% discount to the 10-day vwap in the Company’s securities. The issue of shares pursuant to draw downs is not subject to shareholder approval.
Cadence Minerals Holding in EMH
Cadence holds approximately 16% percent of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o. (“Geomet”), controls the mineral exploration licenses awarded by the Czech State over Cinovec.
The full release can be found at: https://www.londonstockexchange.com/news-article/tidm/headline/14613655
European Metals Managing Director Keith Coughlan said; “We are delighted to be partnering with DGWA to attract European and especially German-speaking investors and bring the European Metals opportunity to the European capital markets. Together with our strong industrial partner CEZ, we are moving closer to the development of Europe’s largest hard-rock lithium project. We believe that the battery and EV industries in the EU are set for significant growth, as European battery production is a strategic imperative for clean energy transition and the competitiveness of its automotive sector.
There have been significant financial and political commitments made recently within the EU to the development of a European Battery Industry and an Electric Vehicle future. The need to develop local supply chains in battery metals has been recognised and we believe that DGWA will assist us in conveying our message within the region.”
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For further information:
|Cadence Minerals plc||+44 (0) 207 440 0647|
|WH Ireland Limited (NOMAD & Broker)||+44 (0) 207 220 1666|
|Novum Securities Limited (Joint Broker)||+44 (0) 207 399 9400|
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identiﬁed by their use of terms and phrases such as ‘‘believe’’ ‘‘could’’ “should” ‘‘envisage’’ ‘‘estimate’’ ‘‘intend’’ ‘‘may’’ ‘‘plan’’ ‘‘will’’ or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reﬂect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.