Mineral Commodities Ltd ('MRC' or 'the Company') (ASX: MRC) refers to its announcements of 16 December 2024, 15 April 2025 and 15 May 2025 regarding its wholly owned subsidiary MRC Graphite Norway Pty Ltd ('MRCGN') entering into a binding, conditional share purchase agreement ('SPA') with Norge Mineraler Holding AS ('Norge Mineraler'), for the sale of 100% of the shares in Skaland Graphite AS ('Skaland') to Norge Mineraler ('Transaction').
As announced previously, all conditions precedent to the SPA were satisfied on 17 March 2025 with completion and payment due 21 March 2025.
Norge Mineraler has confirmed that completion of the Transaction will occur as soon as possible and no later than 9 June 2025. If completion of the Transaction does not occur by 9 June 2025, the rate of interest on any outstanding amounts owing to MRCGN pursuant to the SPA shall increase from 12.5% per annum to 20% per annum from 21 March 2025 to the date of completion of the Transaction.
Norge Mineraler's parent company1 has given a guarantee in favour of MRCGN, guaranteeing Norge Mineraler's performance of all of its obligations under the SPA.
Contact:
Scott Lowe
CEO
Tel: 61 8 6373 8900
Email: info@mncom.com.au
Sarah Gaffney-Smith
Joint Company Secretary
Tel: 61 8 6373 8900
Email: info@mncom.com.au
About Mineral Commodities Ltd
Mineral Commodities Ltd is a mining and development company. The Company's aspiration is to become a leading vertically integrated diversified producer of graphitic anode materials and value-added mineral products with a commitment to operate with a focus on the Environment, Sustainability and Governance.
Forward Looking Statements
This announcement may contain forward-looking information and forward-looking statements (collectively, forward looking statements). These forward-looking statements are made as of the date of this announcement and the Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to the Company's strategy and objectives. In certain cases, forward-looking statements can be identified by the use of words such as, 'aim', 'anticipated', 'believe', 'considered', 'continue', 'could', 'estimate', 'expected', 'for', 'forecast', 'future', 'interpreted', 'likely', 'looking', 'may', 'open', 'optionality', 'plan' or 'planned', 'potential', 'provides', 'robust', 'targets', 'will' or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
(C) 2025 Electronic News Publishing, source ENP Newswire