European Metals Holdings Limited (EMH) and Group ČEZ reached on November 20 a conditional agreement on a strategic partnership and significant investment in the lithium extraction project at the locality Cínovec. Once the contract is signed, ČEZ will become a majority shareholder (51%) in Geomet, EMH’s subsidiary owning rights over the relevant extraction project. The transaction in the value of about EUR 34.06m will have a form of a new Geomet shares subscription. The information was provided by EMH.
Source: CIA News
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