Aug 07, 2020 (TheNewswire.ca via COMTEX) -- (via TheNewswire)Toronto, ON - TheNewswire - August 7th, 2020 - Chilean Metals Inc. ("Chilean Metals," "CMX" or the "Company") (TSXV:CMX), (OTC:CMETF), (SSE:CMX), (MILA:CMX) has terminated the previously announced term sheet with ASX and AIM-listed Aura Energy Limited for its gold, base and battery metal tenements in Mauritania.
"It became rather complicated for regulatory reasons for Chilean to pursue its original plan. It would have necessitated the deal being deemed a Fundamental Transaction to Chilean and that would have made it very difficult to meet our announced timelines to close this deal. It also would have stopped progress on Chilean's core projects in Chile. As a result, we have agreed with Aura to terminate the transaction commented Chilean CEO Terry Lynch."
AEE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
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