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Capella Announces Termination of Agreement with Polar Transition for the Sale of its Central Norway Copper Assets
Capella Announces Termination of Agreement with Polar Transition for the Sale of its Central Norw...
About this update from Capella Minerals Limited
[{"type":"text","content":"\n \n \n \n Capella Announces Termination of Agreement with Polar Transition for the Sale of its Central Norway Copper Assets\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 19, 2024\n \n \n /CNW/ -\n \n Capella Minerals Ltd\n \n (TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) (\"Capella\" or the \"Company\") announces that the Company and Polar Transition Minerals AS (\"Polar\"; formerly NickelX AS), following the elapse of the long stop date, have agreed an immediate termination of the asset sale agreement (the \"Transaction\") as previously announced on\n \n October 17, 2023\n \n and subsequently amended on\n \n April 9, 2024\n \n . Under such Transaction, Polar would have acquired Capella's central\n \n Norway\n \n copper portfolio by the agreed long stop date of\n \n July 7\n \n , 2024.\n \n \n \n \n \n \n \n \n \n \n Eric Roth\n \n , Capella's President and CEO, commented: \"Whilst we believed that this transaction was worth pursuing, as we share a similar strategic vision to Polar, we have decided that, at this stage, both companies are better served by terminating the asset sale agreement and moving forward independently.\n \n \n Capella now regains a 100% interest in its portfolio of high-grade copper-cobalt projects in the former Løkken and Røros mining districts, Trøndelag Province, and will move forward with alternative strategies for advancing these projects with particular focus on the drill-ready targets at Åmot and Hessjøgruva\".\n \n \n On Behalf of the Board of Capella Minerals Ltd.\n \n \n \n \n \"Eric Roth\"\n \n \n \n \n \n \n \n ___________________________\n \n \n \n \n \n \n Eric Roth\n \n , Ph.D., FAusIMM\n \n \n \n President & CEO\n \n \n \n \n About Capella Minerals Ltd\n \n \n \n Capella is a Canadian exploration and development company with a focus on copper-gold projects in the Central Lapland Greenstone Belt of northern\n \n Finland\n \n & copper-cobalt projects in\n \n Norway\n \n .\n \n \n In northern\n \n Finland\n \n , ...