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16 Jul 2019 | 13:37

Cadence Minerals company European Metals secures financing

Cadence Minerals welcomed news that portfolio company European Metals Holdings had agreed to receive funding from Czech Republic-based CEZ Group.

The €2m fiance facility would be supplied by way of a convertible loan.

Cadence holds a 19.1% stak in European Metals

'CEZ is currently conducting due diligence on the European Metals and the Cinovec lithium-tin project,' Cadence said.

'The successful outcome of the due diligence process could see CEZ become European Metals' largest shareholder and co-development partner for the Cinovec project through conversion of the convertible note and subsequent additional investment.'

At 1:37pm: (LON:KDNC) Cadence Minerals Plc share price was -0p at 0.11p

Story provided by StockMarketWire.com
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