MELBOURNE, Australia,
Nov. 24, 2021 /CNW/ - BHP Lonsdale
Investments Pty Ltd ("BHP Lonsdale"), a wholly owned
subsidiary of BHP, announced today that it continues to progress
discussions with Wyloo Metals Pty Ltd ("Wyloo Metals")
regarding its potential support of BHP's C$0.75 per share offer to acquire Noront
Resources Ltd. (TSXV: NOT) ("Noront"). To allow more time
for those discussions to progress, BHP is extending the expiry of
its offer from 7:00 p.m. (Toronto
Time) on November 30, 2021 to
7:00 p.m. (Toronto Time) on
December 14, 2021. The earliest time
BHP will be taking up Noront shares under its offer will be at the
new expiry time.
BHP and Wyloo Metals have continued their conversations and are
considering a mutually beneficial arrangement regarding the
acquisition of Noront by BHP. There is no assurance that any
agreement will be reached between BHP and Wyloo Metals.
For Noront shareholders
A notice of variation
(the "Notice of Variation") in respect of the change to the
expiry will be mailed shortly to Noront shareholders and will be
available under Noront's profile on SEDAR at www.sedar.com and
on Noront's website at www.norontresources.com.
About BHP
BHP is a world-leading global resources
company. We extract and process minerals, oil and gas, with 80,000
employees and contractors, primarily in Australia and the Americas. Our products are
sold worldwide, with sales and marketing led through Singapore and Houston, United
States. Our global headquarters are in Melbourne, Australia. Our Potash head office
is in Saskatoon and our head
office for metals exploration is in Toronto.
Our corporate purpose is to bring people and resources together to
build a better world. Our strategy is to create value by growing
our exposure to a portfolio of world-class, expandable assets in
future-facing commodities. We create value for our stakeholders and
the communities where we operate by focusing on safety,
sustainability, innovation and exceptional performance.
BHP has a strong track record in Canada
BHP has a strong track
record of mining development and investment in Canada over several decades. We have invested
in diamonds, potash, exploration, Carbon Capture and Storage (CCS)
research, and in environmental preservation through the BHP
Foundation in Canada's boreal
forest. We have built strong relationships with communities and
stakeholders throughout our history in Canada. Earlier this year, BHP approved
US$5.7 billion in investment for its
Jansen project, for what stands to
be one of the world's largest, most modern potash mines and a
significant economic driver for Saskatchewan.
www.bhp.com
The Depositary and Information Agent for the Offer is Kingsdale
Advisors. If you have any questions, please contact Kingsdale
Advisors, by telephone toll-free in North
America at 1-866-581-0512 and at 1-416-867-2272 outside
North America or by e-mail at
contactus@kingsdaleadvisors.com.
Forward looking statements
Certain statements contained in this press release contain
"forward-looking information" within the meaning of applicable
securities laws and are prospective in nature. Forward-looking
information and statements are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties that could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding: the Offer, including the anticipated timing,
mechanics, funding, completion, settlement, results and effects of
the Offer; reasons to accept the Offer; and the value inherent in
Noront's portfolio of projects, including the Eagle's Nest
project.
Although BHP Western Mining Resources International Pty Ltd (the
"Offeror") and BHP Lonsdale believe that the expectations reflected
in such forward-looking information and statements are reasonable,
such information and statements involve risks and uncertainties,
and undue reliance should not be placed on such information and
statements. Material factors or assumptions that were applied in
formulating the forward-looking information contained herein
include, without limitation, the expectations and beliefs of the
Offeror and BHP Lonsdale that the Offer will be successful, that
all required regulatory consents and approvals will be obtained and
all other conditions to completion of the transaction will be
satisfied or waived, and the ability to achieve goals. The Offeror
and BHP Lonsdale caution that the foregoing list of material
factors and assumptions is not exhaustive. Many of these
assumptions are based on factors and events that are not within the
control of the Offeror or BHP Lonsdale, and there is no assurance
that they will prove correct. Consequently, there can be no
assurance that the actual results or developments anticipated by
the Offeror and BHP Lonsdale will be realized or, even if
substantially realized, that they will have the expected
consequences for, or effects on, Noront, the Offeror or BHP
Lonsdale, or their respective future results and performance.
Forward-looking information and statements in this press release
are based on the Offeror's and BHP Lonsdale's beliefs and opinions
at the time the statements are made, and there should be no
expectation that these forward-looking statements will be updated
or supplemented as a result of new information, estimates or
opinions, future events or results or otherwise, and the Offeror
and BHP Lonsdale disavow and disclaim any obligation to do so
except as required by applicable law. Nothing contained herein
shall be deemed to be a forecast, projection or estimate of the
future financial performance of the Offeror or any of its
affiliates or Noront.
SOURCE BHP Group
