Strata Investment Holdings PLC (ASX: SRT) has announced that it has received formal notice from 1000433639 Ontario Inc. (Holdco) purporting to terminate the binding letter agreement entered into between the Company and Holdco on 22 August 2024. Strata Investment Holdings PLC is involved in the acquisition, exploration, and development of natural resources projects. The company focuses on creating value for its shareholders through strategic investments and operational excellence.
Strata denies the grounds upon which Holdco has purported to terminate the Letter Agreement. The company is currently considering all of its legal rights and options under the Letter Agreement. These options include potentially commencing a legal claim to seek damages and/or specific performance of the transaction that was contemplated under the binding Letter Agreement.
The company has stated that it will keep the market informed of any material developments regarding this matter. The announcement was authorised for release on behalf of the Board by Chief Executive Officer, David Michael McNeilly. Investors are advised to monitor further announcements from Strata Investment Holdings PLC for updates on this developing situation.
