Successful Acquisition by Kerman & Co’s AIM listed client, URU Metals Limited of Svenska Skifferoljeaktiebolaget, a Swedish Shale Oil Company

29 May 2013

Kerman & Co. LLP advised URU Metals Limited (AIM:URU) (“URU”) on its acquisition of the entire issued share capital of Svenska Skifferoljeaktiebolaget (“SSOAB”) from Global Hydrocarbons Limited for the payment of $300,000 and the issue and allotment of 17,000,000 ordinary shares in the Company. Global Hydrocarbons will additionally receive a further cash payment of $200,000 in deferred consideration upon successful completion of the first drilling exploration programme by SSOAB.

SSOAB is a Swedish Shale Oil company with ownership of six mineral exploration licences in Sweden. Located in Narke Province, approximately 150km west-south-west of Stockholm, the exploration licences cover approximately 7,087 ha of land overlying prospective Alum Shale outcrops with known high levels of kerogen (which can be converted to oil) and metals such as uranium, vanadium, molybdenum and nickel.

CEO of URU, Roger Lemaitre, said “Improved metal and oil extraction technologies and encouraging historic data provide us with a real opportunity to develop this project and we believe that the addition of the Narke project to our portfolio of assets, will in the long term provide value to our shareholders”.

URU Metals Limited is an AIM listed exploration and development company which identifies and invests in quality mineral projects worldwide, focussing on projects that can enter into the pre-feasibility stage within a three-year timeframe. URU primarily focusses on Uranium and Nickel projects and has assets in Niger, South America and Southern Africa, which is now to be complemented by its Swedish acquisition.

Michael Corcoran (Partner) and David Tink (Solicitor) in the Corporate and Capital Markets Team advised URU on the acquisition.