Technology Minerals Halts Merger with Recyclus Group Amid Market Challenges

Technology Minerals announced on Tuesday that it will no longer proceed with its planned merger with battery recycling business Recyclus Group. The decision stems from difficulties with the reverse takeover re-admission requirements of the London Stock Exchange, which have hindered the acquisition process.

The company has decided to revisit the merger "when circumstances permit and market conditions are more favorable." Despite the halt, Technology Minerals, which currently owns 48% of Recyclus' issued capital, remains committed to supporting Recyclus' growth strategy.

Recyclus recently ramped up production at its first lithium-ion battery recycling plant and is in advanced talks with potential industry and financial partners to support its ongoing development. Technology Minerals Chair Robin Brundle expressed optimism about Recyclus' recent progress and affirmed the company's intention to revisit the merger strategy when it benefits shareholders.