VANCOUVER, BC, Oct. 8, 2024
/CNW/ - Filo Corp. (TSX: FIL) (Nasdaq First North
Growth Market: FIL) (OTCQX: FLMMF) ("Filo" or the
"Company") is pleased to announce that it has obtained a
final order from the Ontario Superior Court of Justice (Commercial
List) approving the previously announced arrangement (the
"Arrangement") involving, among others, the Company, BHP
Investments Canada Inc. ("BHP"), a wholly-owned subsidiary
of BHP Group Limited, and Lundin Mining Corporation (TSX: LUN)
(OMX: LUMI) ("Lundin Mining", and together with BHP, the
"Purchaser Parties") pursuant to a court-approved plan
of arrangement under section 192 of the Canada Business
Corporations Act whereby the Purchaser Parties will, among
other things, acquire all of the issued and outstanding common
shares of Filo (the "Filo Shares") not already owned by the
Purchaser Parties and their respective affiliates, all in
accordance with the terms of the arrangement agreement dated
July 29, 2024 among the Company,
Lundin Mining and BHP (as amended, supplemented or otherwise
modified from time to time, the "Arrangement Agreement"). As
previously announced, on September 26,
2024, the Arrangement was approved by the shareholders of
the Company ("Shareholders") at the special meeting of
Shareholders held on September 26,
2024 (the "Meeting"). PDF Version
The Arrangement is subject to customary closing conditions for a
transaction of this nature, including, among other things,
regulatory approvals and relevant stock exchange approvals. Subject
to the satisfaction or waiver of the conditions to implementing the
Arrangement as set out in the Arrangement Agreement, the
Arrangement is anticipated to be completed in the first quarter of
2025.
The terms of the Arrangement, including the conditions to
implementing the Arrangement, are further described in Filo's
management information circular dated August
26, 2024, a copy of which is available on SEDAR+ under the
Company's profile at www.sedarplus.ca and on the Company's website
at https://filocorp.com/investors/corporate-filings/.
About Filo Corp.
Filo is a Canadian exploration and development company focused
on advancing its 100% owned Filo del Sol copper-gold-silver deposit
located in San Juan Province, Argentina and adjacent Region III,
Chile. The
Company's shares are listed on the TSX and Nasdaq
First North Growth
Market under the trading symbol "FIL", and
on the OTCQX under the symbol "FLMMF".
Additional Information
The Company's certified adviser on the Nasdaq First North Growth
Market is Bergs Securities AB, +46 8 506 51703,
rutger.ahlerup@bergssecurities.se.
The information contained in this news release was accurate at
the time of dissemination, but may be
superseded by subsequent news release(s).
The information was submitted for publication by the contact
persons below on October 8, 2024 at 4:30 pm EDT.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING
INFORMATION:
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking information") within the meaning of applicable
securities legislation. All statements, other than statements of
historical fact, included herein, including, without limitation,
the consummation and timing of the Arrangement; the satisfaction of
the conditions precedent to the Arrangement; and the expected
timing of closing of the Arrangement, may be forward-looking
information. Forward-looking information is frequently, but not
always, identified by words such as "expects", "anticipates",
"believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or
results "will", "may", "could", or "should" occur or be
achieved.
Forward-looking information involves various risks and
uncertainties. There can be no assurance that such information will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such information.
Important factors that could cause actual results to differ
materially from the Company's expectations include failure to
receive the required regulatory approvals to effect the
Arrangement; failure to satisfy or waive the closing conditions to
the Arrangement; changes in laws, regulations and government
practices; risks pertaining to the outbreak of the global
pandemics; government regulation of mining operations;
environmental risks; and other risks and uncertainties disclosed in
the Company's periodic filings with Canadian securities regulators
and in other Company reports and documents filed with applicable
securities regulatory authorities from time to time, including the
Company's Annual Information Form available under the Company's
profile at www.sedarplus.ca. The Company's forward-looking
information reflects the beliefs, opinions, and projections on the
date the statements are made. The Company assumes no obligation to
update the forward-looking information or beliefs, opinions,
projections, or other factors, should they change, except as
required by law.
SOURCE Filo Corp.