11.06.2018
Deutsche Rohstoff AG DE000A0XYG76
DGAP-News: Deutsche Rohstoff AG: Tin International sells Sadisdorf and Hegelshöhe licenses to Joint Venture partner Lithium Australia
DGAP-News: Deutsche Rohstoff AG / Key word(s): Disposal
Deutsche Rohstoff AG: Tin International sells Sadisdorf and Hegelshöhe
licenses to Joint Venture partner Lithium Australia
11.06.2018 / 14:00
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff AG: Tin International sells Sadisdorf and Hegelshöhe
licenses to Joint Venture partner Lithium Australia
Total consideration amounts to EUR 2 million
Mannheim/Leipzig/Perth. Tin International AG sells 100% interest in its
Sadisdorf and Hegelshöhe licenses in the eastern part of the German Ore
Mountains to the current Joint Venture partner Lithium Australia NL (ASX:
LIT). The total consideration amounts to EUR 2 million of which EUR 0.5
million will be paid in cash and EUR 1.5 million paid in LIT shares. The
shares are subject to a sales restriction of 6-18 months. The transaction
will result in a pre-tax profit of approximately EUR 1.5 million for
Deutsche Rohstoff. The sale will become effective when certain conditions
precedent are fulfilled, including the consent of the responsible Upper
Mining Authority for the transfer of the licenses. The parties expect the
sale to be closed within the upcoming months.
Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: "We are pleased to
announce the sale of our licenses Sadisdorf and Hegelshöhe. Lithium
Australia is well positioned to develop these tin-lithium deposits and
benefit with their SiLeach-technology from the upcoming boom of electric
cars. We are happy to become a significant shareholder of LIT and
participate in the further development of the company."
Mannheim, 11 June 2018
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 621 490 817 0
[email protected]
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11.06.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: [email protected]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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