8th Apr 2021 17:59
Stranger Holdings PLC - London-based investment company intending to acquire a target company, business or asset in the industrial or service sector - Signs non-binding heads of terms to acquire Technology Minerals Ltd, which aims to create a consolidated battery metals and battery metal recycling group.
"Technology Minerals is a holding company focused on becoming the UK's first listed company to create a circular economy for battery metals within a single group. The Board believes that this represents an attractive opportunity as circular economies hold the key to a viable future for the fast-growing electric vehicle sector," company explains.
Technology Minerals is currently advancing several acquisitions, company notes, focused on extracting raw materials required for Li-ion battery cathodes. These deals are expected be completed at the time of the acquisition.
Stranger continues: "These potential acquisitions include a major recycling group, the Recyclus Group, with whom Stranger has previously held talks regarding an RTO. In addition, Technology Minerals has already, or is in the process of, negotiating the acquisition of lithium, cobalt and nickel assets based in the USA, Ireland, Spain, and Cameroon."
Also notes hire of Mark Bernard Battles as non-executive director with immediate effect.
By Paul McGowan; [email protected]
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