Bacchus Capital Drops Planned Investment in Beowulf Mining

05:28 AM EDT, 10/22/2026 (MT Newswires) -- Bacchus Capital & Affiliates has withdrawn its proposed strategic investment in Beowulf Mining (BEM.L) following a review by the Swedish Inspectorate of Strategic Products. The ISP confirmed to Bacchus Capital's legal representatives that it would discontinue its review if no binding investment agreement was in place, to which Bacchus Capital reiterated that it cannot extend its investment commitment for an open-ended period, Beowulf said in a Thursday filing. Bacchus Capital therefore withdrew its application as there is no longer any prospect of the review continuing. Beowulf said it continues to "carefully" manage its cash and creditor position and maintains "constructive dialogue" with Alumni Capital. The mineral exploration and development company is also still reviewing a range of potential interim and longer-term funding options.