CMILF - Capella Announces Termination of Agreement with Polar Transition for the Sale of its Central Norway Copper Assets | Benzinga
VANCOUVER, BC, July 19, 2024 /CNW/ - Capella Minerals Ltd (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 October 17, 2023 and subsequently amended on April 9, 2024. Under such Transaction, Polar would have acquired Capella's central Norway copper portfolio by the agreed long stop date of July 7, 2024.
Eric Roth, 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.
Capella now regains a 100% ...