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 in Europe [1][3]. Transaction Summary - The transaction includes a finder's fee of either 835,000 shares or the maximum allowed under CSE policies, plus $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 resources, positioning the company as a leading explorer in Europe’s clean energy transition and nuclear power resurgence [3]. - SM's uranium division holds one of the largest privately held uranium portfolios in the EU, enhancing United's strategic position [3]. Properties Overview - The acquisition includes several exploration-stage properties in Finland and Sweden, such as: - Riutta Project (999 hectares) in Finland, near established mining operations [5]. - Duobblon Deposit (630 hectares) in Sweden, located in a proven mining district [5]. - Norr Döttern Project (2,900 hectares) in Sweden, accessible year-round [5]. - Märrviken Project (2,710 hectares) in Sweden, supported by nearby infrastructure [5]. - Flistjärn Project (7,552 hectares) in Sweden, prospective for uranium and rare earth elements [5]. - Additional properties in Finland include Asento Project (1,203 hectares), Kovela Project (216 hectares), Kitka Project (3,258 hectares), and Project H (3,644 hectares) [11]. Closing Conditions - The transaction is subject to customary conditions, including due diligence, board appointments, execution of the royalty agreement, and necessary regulatory approvals [7].