Europa Metals Ltd (AIM:EUZ, JSE:EUZ) told investors that its proposed acquisition of Viridian Metals Ireland, holder of the Tynagh brownfield Pb/Zn/Cu/Ag project in Ireland, has experienced some delay over the festive period.
The company entered a binding term sheet in September 2024, securing a 150-day exclusivity period to finalize conditions and secure funding.
Parties to the transaction continue to work through the conditional elements of the transaction, though the holidays have impacted timelines.
“Due to the festive period, ongoing discussions with a range of parties in relation to funding the Proposed Transaction and development of the Tynagh project have been impacted. Discussions to date remain confidential and incomplete,” the company said in a statement.
Europa’s shares remain suspended from trading on AIM, pending either the publication of an admission document or confirmation that the transaction will not proceed.