Business
Helius' Transaction with Colossus on Serra Pelada Project Receives Colossus Shareholder Approval
Helius' Transaction with Colossus on Serra Pelada Project Receives Colossus Shareholder Approval ...
About this update from Helius Minerals Limited
[{"type":"text","content":"\n\n\n\n Helius' Transaction with Colossus on Serra Pelada Project Receives Colossus Shareholder Approval\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n VANCOUVER BC\n \n\n ,\n \n\n May 9, 2025\n \n\n /CNW/ - Helius Minerals Limited (\"\n \n Helius\n \n \" or the \"\n \n Company\n \n \") (TSXV: HHH) is pleased to announce that the shareholders of Colossus Minerals Inc. (\"\n \n Colossus\n \n \") at the special meeting of Colossus' shareholders held on\n \n May 2, 2025\n \n passed a special resolution approving the sale to Helius of all of the shares (the \"\n \n Target Companies' Shares\n \n \") of Colossus Mineracao Ltda. (\"\n \n Colossus\n \n Brazil\n \n\n \") and Mineracao Fazenda Monte Belo Ltda. (\"\n \n MFM\n \n \", and together with Colossus Brazil, the \"\n \n Target Companies\n \n \"), representing all or substantially all of the property of Colossus, and thereby a 75% beneficial interest in the partnership called Serra Pelada – Companhia de Desenvolvimento Mineral (\"\n \n SPCDM\n \n \"), which partnership holds a 100% interest in the Serra Pelada gold-platinum-palladium mining project in\n \n Brazil\n \n (the \"\n \n Serra Pelada Project\n \n \").\n \n\n\n\n\n\n\n\n\n Colossus became insolvent in 2014 after dewatering measures at the Serra Pelada Project proved inadequate in controlling water ingress. This created liquidity issues immediately before metal production was to commence, which led to Colossus' bankruptcy. The Serra Pelada Project was thereafter put on a care and maintenance program and Colossus halted all exploration, construction and development activities to conserve cash.\n \n\n As announced in Helius' news releases of\n \n March 4, 2025\n \n and\n \n March 25, 2025\n \n , Helius entered into a definitive Exclusivity, Share Option and Acquisition Agreement dated\n \n March 3, 2025\n \n (the \"\n \n Definitive Agreement\n \n \") with Colossus which provides...