Tantalus Rare Earths AG / Key word(s): Miscellaneous
04.09.2015 06:30
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Corporate News
Tantalus Rare Earths AG Financing Update
Grünwald, Germany, 4 September 2015 - As communicated in corporate news on July 8, 2015, Tantalus has currently a challenging funding situation caused by the non-payment of one investor, who subscribed for new shares at the capital increase earlier this year. The Company has exercised very tight management of cash outflows and gained additional time to find a financing solution. The Company estimates that the currently available funds will be sufficient to continue operations until early October 2015.
Tantalus is currently in discussions relating to funding and remains confident to finalize the discussions during September 2015. Tantalus will publish an update on the process in due course.
About Tantalus Rare Earths AG
Tantalus Rare Earths AG (ISIN DE000A1MMFF4) is a Germany-based exploration company, engaged in the development of rare earths in Madagascar. Tantalus's shares are quoted on the 'Primärmarkt' of the Düsseldorf Stock Exchange.
For further information please contact:
Thomas Hoyer, CEO, Tantalus Rare Earths AG
Tel.: + 49 1512 4017229
Thomas.hoyer@tre-ag.com
Markus Kivimäki, EVP, Tantalus Rare Earths AG
Tel.: +358 503495687
Markus.kivimaki@tre-ag.com
German media contact:
rikutis consulting
Falk v. Kriegsheim
Tel.: +49 172 9837109
London media contact:
Bell Pottinger
Charles Vivian
Marianna Bowes
Tel.: +44 (0)20 3772 2500
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