United Lithium Announces LOI to Acquire Uranium and Rare Earth Explorer Swedish Minerals AB, Creating a Diversified Nordic Strategic Metals Platform and Financing

Executive Summary

• United Lithium entered a binding Letter of Intent to acquire 100 % of Swedish Minerals AB, issuing 25 million United shares at $0.20 per share and $450k cash as consideration.
• The transaction includes a post‑closing share consolidation (2 pre‑consolidation Shares → 1 post‑consolidation Share) expected to result in ~43.87 million post‑consolidation Shares outstanding.
• United simultaneously announced a non‑brokered private placement of up to 15 million units at $0.15 per unit, targeting gross proceeds of up to $2.25 million for working capital and exploration.

Key Details

• Acquisition Structure
• Acquire all issued & outstanding SM shares.
• Consideration: 25,000,000 United common Shares @ $0.20 each (pre‑consolidation) + $450,000 cash ($50k deposit at LOI execution; $400k at closing).
• Share Consolidation
• One post‑consolidation Share for every two pre‑consolidation Shares.

• Anticipated post‑consolidation share count: ~43,870,527 Shares.

• Management & Board Changes (effective upon Closing)

• United Board reconstituted to five directors (3 United nominees, 2 SM nominees).

• Andrew Bowering appointed Interim CEO; Jonathan Franklin appointed President.

• Royalty Provision

• SM shareholders will receive a 1.75 % net smelter return royalty on all SM properties (terms to be agreed).

• Exclusivity & Termination

• 30‑day exclusivity period; United may extend by another 30 days with an additional $50k non‑refundable deposit.

• Either party may terminate LOI prior to expiry if due diligence unsatisfactory or material adverse matters arise.

• Strategic Rationale

• Combines United’s lithium portfolio with SM’s uranium and rare‑earth assets in Finland & Sweden, supporting Europe’s clean‑energy transition and nuclear resurgence.

• Highlights SM’s key projects: Riutta (Finland), Duobblon, Norr Döttern, Märrviken (Sweden).

• Unit Financing (Private Placement)

• Up to 15,000,000 pre‑consolidation units at $0.15 per unit → max gross proceeds $2,250,000.
• Each Unit = 1 pre‑consolidation Share + 1 warrant for an additional pre‑consolidation Share @ $0.30 exercise price (24‑month term).

• Acceleration clause: If pre‑consolidation share trades ≥ $0.60 for ten consecutive days post‑closing, United may accelerate warrant expiry after four months + one day.

• Use of Proceeds

• General working capital and continued exploration of United’s properties.

• Portion may fund the SM acquisition and exploration on SM assets if transaction closes.

• Conditions to Closing

• Satisfactory due diligence, completion of share consolidation, board reconstitution, management appointments, and all required regulatory approvals (including CSE).

Notable Quotes

“The acquisition unites United’s lithium development portfolio with SM’s high‑grade uranium and rare‑earth portfolio… positioning us as a leading Nordic strategic‑metals explorer.” – Scott Eldridge, President & CEO

All boilerplate, forward‑looking statements, and disclaimer language have been omitted for brevity.