Tantalus Rare Earths AG: The Second Sale and Purchase Agreement with REO Magnetic terminated without being completed

DGAP-News: Tantalus Rare Earths AG / Key word(s): Contract

21.09.2017 / 09:32
The issuer is solely responsible for the content of this announcement.


 

Corporate News

The Second Sale and Purchase Agreement with REO Magnetic terminated without being completed

Munich, 21 September 2017

The Second Sale and Purchase Agreement ("Agreement") between Tantalus Rare Earths AG and REO Magnetic Pte. Ltd (formerly Apphia Minerals SOF Pte. Ltd.) was not completed by the extended Long Stop Date of 15 September 2017.

In accordance with its terms and conditions, the Agreement terminates in case completion does not take place by the Long Stop Date (as defined in the Agreement). Consequently, as the completion did not take place latest on 15 September 2017 the Agreement has terminated.

As announced earlier (see press release from 31 August 2017) Tantalus has already started to review the strategic alternatives it has, including to look for alternative buyers for the remaining 40 % shareholding in Tantalum Holding (Mauritius) Limited.

Tantalus Rare Earths AG
Management Board

Contact

Markus Kivimäki, CEO, Tantalus Rare Earths AG
Tel.: +358 503 495 687
Markus.kivimaki@tre-ag.com

German media contact

rikutis consulting
Falk v. Kriegsheim
Tel.: +49 172 9837109
fvk@rikutis.de



21.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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