All monetary amounts are expressed in Canadian
Dollars, unless otherwise indicated.
TORONTO, Jan. 26, 2022 /CNW/ - Neo Lithium Corp.
("Neo Lithium" or the "Company") (TSXV: NLC) (OTCQX:
NTTHF) (FSE:NE2) is pleased to announce the completion of the
previously announced plan of arrangement under the Ontario Business Corporations Act (the
"Arrangement") involving the Company, Zijin Mining
Group Co., Ltd. ("Zijin"), and 2872122 Ontario Limited, a
wholly-owned subsidiary of Zijin (the "Purchaser"),
following receipt of all required regulatory approvals and
satisfaction of all closing conditions.
Pursuant to the Arrangement, the Purchaser acquired all of the
issued and outstanding common shares of the Company (the
"Shares") for $6.50 per Share
in cash. Registered shareholders should send their completed and
executed letters of transmittal and share certificates or DRS
advices, as applicable, to the depositary, TSX Trust Company, as
soon as possible in order to receive the consideration to which
they are entitled in connection with the Arrangement.
As a result of the Arrangement, the Shares are expected to be
delisted from the TSX Venture Exchange. It is also expected that
the Shares will cease being quoted for trading on the OTCQX and the
Frankfurt Stock Exchange concurrently or shortly thereafter, and
that the Company will apply to cease to be a reporting issuer in
all of the provinces of Canada in
which it is a reporting issuer.
In connection with the closing, and in accordance with the terms
of the Arrangement, the Company issued an additional 6,275,500
Shares to the Purchaser at a price of $6.50 per Share for gross proceeds to the Company
of $40,790,750, which proceeds will
be primarily used by the Company to fund a portion of the
transaction consideration.
About Neo Lithium Corp.
Neo Lithium Corp., incorporated in January, 2016, owns and
operates the 3Q lithium brine project in Argentina. Additional information regarding
Neo Lithium Corp. is available on SEDAR at www.sedar.com under the
Company's profile and at its website at www.neolithium.ca.
About Zijin
Formed in 1993 and based in Fujian,
China, Zijin is one of the largest mining companies in
China as well as a leading global
gold and copper producer. It manages an extensive portfolio,
primarily consisting of gold, copper, zinc, and other metals
through investments in China and
twelve overseas countries across Europe, Central
Asia, Africa, Oceania and
South America. Listed on the
Shanghai Stock Exchange and the Hong Kong Stock Exchange, Zijin has
a market capitalization of approximately US$40 billion.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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SOURCE Neo Lithium Corp.
