01:37:33 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Tasman Metals Ltd
Symbol TSM
Shares Issued 66,141,922
Close 2016-07-05 C$ 0.35
Market Cap C$ 23,149,673
Recent Sedar Documents

Tasman Metals to hold AGSM Aug. 18

2016-07-05 16:09 ET - News Release

Mr. Mark Saxon reports

TASMAN ANNOUNCES DATE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS AND PROVIDES ADDITIONAL UPDATE ON NORRA KARR MINING LEASE

Tasman Metals Ltd. will hold its annual general and special meeting of the company's shareholders on Thursday, Aug. 18, 2016, at 10 a.m. (Pacific Standard Time) at the company's offices located at suite 1305, 1090 West Georgia St., Vancouver, B.C., V6E 3V7. At the meeting, shareholders will be asked to, among other things, consider the plan of arrangement with Flinders Resources Ltd., as announced via joint news releases dated May 11, 2016, and June 21, 2016.

Tasman is working closely with its legal counsel to consider alternatives to mailing proxy materials to shareholders in the event of a disruption to mail service due to a possible Canada Post strike. Proxy materials will be made available also on the company's website and under the company's profile on SEDAR.

Also, further to the company's news releases of Feb. 23 and March 31, 2016, the company wishes to provide an update on the status of the mining lease for the Norra Karr heavy rare earth element project in Sweden.

On Feb. 23, the company reported the decision of the Swedish Supreme Administrative Court (SAC) to cancel the mining lease which has been in force since mid-2013 on the basis that insufficient information was provided regarding potential impact on areas that surround the mining lease. The SAC decision was subsequently reviewed by Swedish Ministry of Enterprise and Innovation (Naringsdepartementet) to consider how the Mining Inspectorate should apply this new interpretation of the Mining Act. Tasman provided comment to the Ministry of Enterprise and Innovation as part of this review process.

The Ministry of Enterprise and Innovation has now released its findings and determined that the handling of the Norra Karr mining lease, along with three other mining leases held by third parties, be returned to the Mines Inspectorate for reassessment. The Mines Inspectorate will consider all four mining lease applications, including Norra Karr, and determine any additional information that is required as a result of this new interpretation of the Mining Act by the SAC.

Mark Saxon, Tasman's president and chief executive officer, states: "We interpret the decision by the Swedish Ministry of Enterprise and Innovation as a reasonable and fair outcome from the decision of the SAC earlier this year. We believe the Mines Inspectorate, which granted the mining lease to Tasman in 2013, now has the opportunity to review the company's application documentation based on the new interpretation of the Mining Act, and advise the company on any additional data that should be provided."

A further update will be provided when the company gains additional information. Tasman continues to own 100 per cent of the Norra Karr project under exploration licence while the mining lease application documentation is being reassessed.

We seek Safe Harbor.

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