STRATEGIC MINERALS ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH IBERAMERICAN

TORONTO, Aug. 1, 2024 /CNW/ - Further to the press release dated June 17, 2024, Strategic Minerals Europe Corp. (CBOE:SNTA) (FRA:26K0) (OTC-BB:SNTAF) ("Strategic Minerals" or the "Company") announces that the amended and restated business combination agreement (the "Amended and Restated BCA"), which amended and restated the business combination agreement entered into on March 19, 2024 (the "Original BCA") among Strategic Minerals, IberAmerican Lithium Corp. ("IberAmerican") and IberAmerican Resources Inc., pursuant to which IberAmerican had previously agreed to acquire all of the issued and outstanding common shares of Strategic Minerals (the "Business Combination") has been terminated in accordance with its terms. IberAmerican notified the Company on July 31, 2024, that, as the Business Combination was not completed on or before July 31, 2024 as required by the Amended and Restated BCA, IberAmerican was exercising its right to terminate the Amended and Restated BCA. The Company continues to seek alternative financing solutions.