Noront recommends shareholders accept BHP offer
Toronto, Ontario/Melbourne, Victoria – December 12, 2021 – BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly-owned subsidiary of BHP, announced today that discussions with Wyloo Metals Pty Ltd (“Wyloo Metals”) regarding Wyloo Metals’ potential support of BHP Lonsdale’s C$0.75 per share offer (the “Offer”) to acquire Noront Resources Ltd. (TSXV:NOT) (“Noront”) have ended. Following constructive discussions between BHP and Wyloo Metals regarding the possibility of a mutually beneficial arrangement for the acquisition of Noront by BHP Lonsdale, the parties have determined that they are unable to reach an agreement.
BHP Lonsdale and Noront encourage Noront shareholders to tender to BHP Lonsdale’s all-cash offer of C$0.75 per Noront share. The Offer is the only offer available to Noront shareholders and it continues to have the support and recommendation of the Board of Directors of Noront. As a reminder, the Offer has a minimum tender requirement of more than 50% of the outstanding Noront shares not beneficially owned or controlled by BHP Lonsdale or any person acting jointly or in concert with the Offeror.
Shareholders have until 7:00 p.m. (Toronto time) on January 14, 2022 to accept the Offer and tender their shares.
For Noront shareholders
A notice of variation and change in respect of the Offer and a notice of change in respect of Noront’s directors’ circular will be available under Noront’s profile on SEDAR at www.sedar.com and on Noront’s website at www.norontresources.com.
Tendering is quick and easy
