TORONTO, ONTARIO–(Newsfile Corp. – May 15, 2024) – IberAmerican Lithium Corp. (CBOE: IBER) (OTCQB: IBRLF) (FSE: W2C) (“IberAmerican” or the “Company”) announced today that , filed unaudited condensed interim consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2024 (“quarterThese documents can be found on our website www.iberamericanlithium.com and on our SEDAR+ profile at www.sedarplus.ca. Unless otherwise noted, all financial figures contained herein are expressed in Canadian dollars.
The company reported a net loss of $1.46 million, or $0.01 per share, for the quarter. (ii) As of March 31, 2024, we had cash and cash equivalents of approximately $1.8 million ($3.4 million and no debt).
For the remainder of 2024, the company will continue its efforts to obtain final permit approval for the Alberta II and Carlota lithium projects in northwest Spain, and is ready to commence further exploration operations.
We previously announced a business combination agreement with Strategic Minerals Europe Corp. and proposed a name change to IberAmerican Resources Inc.
On March 20, 2024, the Company announced that it had entered into a business combination agreement with Strategic Minerals Europe Corp.strategic minerals“) dated March 19, 2024 (“business combination agreementPursuant to this, the Company proposes to acquire all of the outstanding common shares in the capital of Strategic Minerals through a triangular merger (the “”).merger“).
The company plans to change its name from “IberAmerican Lithium Corp.” prior to the completion of the merger. Proposal for IberAmerican Resources Inc. reflecting expansion of critical green earth minerals portfolio and plans to restart production of tin and tantalum/niobium from Strategic Minerals' flagship Penauta project in Spain The transaction is expected to be completed. June 15, 2024.
Campbell Boettcher, Chief Executive Officer and Director of the Company, said: “We look forward to the completion of the merger in due course and are looking forward to an active mining operation with plans to immediately resume tin and tantalum/niobium production at the Penouta Project.'' I look forward to the transition.” With the interim suspension currently in place lifted, the Company has completed a technical and operational assessment that provides a clear path to positive cash flow generation and value creation for shareholders. ”
About IberAmerican Lithium Corp.
IberAmerican Lithium is a hard rock lithium exploration company focused on developing its wholly owned Alberta II & Carlota Properties located in the Galicia region of northwest Spain. IberAmerican Lithium's assets are located in favorable lithium districts with world-class infrastructure and supportive and active mining jurisdictions.
Additional information about IberAmerican Lithium is available at www.iberamericanlithium.com and its profile on SEDAR is available at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release, including the completion of the proposed transaction and the decision to change our name. . , the decision regarding the suspension and the Company's plans for resuming production at the Penouta project. Any statements that include predictions, expectations, beliefs, plans, projections, objectives, assumptions, discussions of future events or performance (including, but not always, phrases such as “expects,” “does not expect,” “anticipates,” etc.) ), “anticipate” or “not anticipate”, “plan”, “budget”, “scheduled”, “forecast”, “estimate”, “believe”, or ” “intended” or variations of such words or phrases, or expressing a particular action, event or result, “may”, “likely”, “will” occur or be achieved. “may” or “will” may be forward-looking statements that are not statements of historical fact.
Forward-looking statements involve known and unknown risks and uncertainties, including that IverAmerican's actual results, performance or achievements may differ from any future results, performance or achievements expressed or implied by such forward-looking statements. and other factors that may differ significantly. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described in the caption “Risk Factors” in the Company's Annual Information Form dated March 26, 2024. and can be viewed on SEDAR+. www.sedarplus.ca. These risks include, but are not limited to, risks associated with the mining and exploration industry, such as operational risks in development and capital expenditures, uncertainties in production forecasts, and delays or changes in plans for resource development. Not limited. site. The forward-looking statements contained herein are made as of the date of this press release and, except as required by law, YverAmerican does not believe that the forward-looking statements contained herein are subject to change as a result of new information, results or future events. We undertake no obligation to update any forward-looking statements, whether or not they exist. , circumstances, or whether management's estimates or opinions should change or otherwise. 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 are cautioned not to place undue reliance on forward-looking statements.
Further information
For further information regarding continuation, please contact us below.
IberAmerican Lithium Corp.
Campbell Boettcher – CEO
contact@ialithium.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209324.
