Noront Board Recommends Wyloo Metals’ Superior Offer
PERTH, Australia, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Wyloo Metals Pty Ltd (Wyloo Metals) has reached an agreement with the Board of Directors of Noront Resources Ltd. (TSXV: NOT, Noront), which has unanimously determined that the Wyloo Metals offer (the Revised Wyloo Offer) is superior to the offer previously made by BHP Western Mining Resources International Pty Ltd (BHP).
- PERTH, Australia, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Wyloo Metals Pty Ltd (Wyloo Metals) has reached an agreement with the Board of Directors of Noront Resources Ltd. (TSXV: NOT, Noront), which has unanimously determined that the Wyloo Metals offer (the Revised Wyloo Offer) is superior to the offer previously made by BHP Western Mining Resources International Pty Ltd (BHP).
- Commenting on the Revised Wyloo Offer, Head of Wyloo Metals Luca Giacovazzi said hes excited to invite shareholders to join Wyloo Metals in revitalising Noront under the leadership of a world-class Board of Directors led by Dr. Andrew Forrest AO, who led Fortescue Metals Group from a junior mining exploration company to one of the worlds largest mining companies with a market capitalisation of approximately A$60 billion.
- Together with Wyloo Metals, holders of 45.7% of Noronts common shares on a fully diluted basis are supportive of the Revised Wyloo Offer.
- If BHP does not exercise its right to match, Wyloo Metals and Noront will immediately enter into an Arrangement Agreement.