United Lithium Enters Into Definitive Agreement to Acquire Swedish Minerals AB, Advancing Nordic Strategic Metals Platform
Globenewswire·2025-12-10 20:40

Core Viewpoint - United Lithium Corp has entered into a definitive Share Exchange Agreement to acquire all issued and outstanding shares of Swedish Minerals AB, aiming to enhance its lithium development portfolio with high-grade uranium and rare earth assets from SM, positioning itself as a leading Nordic-based explorer in the clean energy transition and nuclear power resurgence [1][3]. Transaction Summary - The transaction includes a finder's fee of either 835,000 shares at a deemed price of $0.20 per share or the maximum allowed under CSE policies, along with $22,500 in cash, contingent upon the completion of the transaction [2]. - United will issue 15,865,000 common shares at a deemed price of $0.20 per share and pay $427,500 in cash to SM shareholders, with specific payment terms outlined [4]. Strategic Rationale - The acquisition aims to combine United's lithium assets with SM's uranium and rare earth properties located in Finland and Sweden, which are recognized as mining-friendly jurisdictions [3]. - SM's uranium division holds one of the largest privately held uranium portfolios in the EU, enhancing United's position in the market [3]. Properties Overview - The Riutta Project in Finland is a 999-hectare exploration-stage property with strategic access to infrastructure [5]. - The Duobblon Deposit in Sweden spans 630 hectares and is located in a proven mining district, making it highly prospective for exploration [5]. - The Norr Döttern Project covers 2,900 hectares and is accessible year-round, offering significant exploration potential [5]. - The Märrviken Project and Flistjärn Project in Sweden are also exploration-stage properties with established infrastructure, enhancing their development prospects [5][6]. Closing Conditions - The transaction is subject to customary conditions, including due diligence, board appointments, execution of the royalty agreement, and necessary regulatory approvals [7].