SunMirror AG
SunMirror AG: SunMirror AG receives letter of intent from Barracuda Group Ltd. to subscribe to CHF 70 million capital increase
SunMirror AG / Key word(s): Letter of Intent
ZUG, Switzerland; February 04, 2021 – SunMirror AG (“SunMirror”; XETRA Vienna: ROR1; ISIN CH0396131929), the mining and exploration firm specialising in raw materials such as gold, lithium and other metals and minerals, announces that it has today received a letter of intent to subscribe to new shares in the recently announced cash capital increase from Barracuda Group Limited (“Barracuda”). Barracuda intends to subscribe to 1,000,000 new shares in a private placement at a price of CHF 70 each from the capital increase resolved on January 7, 2021, excluding the subscription rights of current shareholders. With the realisation of the subscription, the resolved capital increase in the volume of CHF 70 million would be fully placed. Information and Explanation of the Issuer to this News: Explanatory part ‘We are very pleased that with Barracuda we are likely to have an experienced strategic investor on our side, who will accompany our future company growth. Together with Barracuda, we could exploit additional market opportunities. Driven primarily by electromobility and the massive global expansion of energy storage systems, we see increased demand for raw materials in the battery industry, which we intend to acquire and market together with Barracuda,’ said Dr. Heinz Rudolf Kubli, Board of Directors of SunMirror AG.
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04-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | SunMirror AG |
Steinhauserstrasse 74 | |
6300 Zug | |
Switzerland | |
E-mail: | info@sunmirror.ch |
Internet: | https://www.sunmirror.ch |
ISIN: | CH0396131929 |
WKN: | A2JCKK |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf |
EQS News ID: | 1166057 |
End of Announcement | DGAP News Service |