TIDMBHP
RNS Number : 4755T
BHP Group PLC
24 November 2021
NEWS RELEASE
Update on recommended all-cash offer for Noront Resources
Limited
NEWS RELEASE
Release Time IMMEDIATE
Date 24 November 2021
Release Number 30/21
Further to BHP's release on 11 November 2021, in relation to the
recommended all-cash offer to acquire all of the issued and
outstanding common shares of Noront Resources Limited by BHP
Western Mining Resources International Pty Ltd, an update is
provided in the attached release.
Information on BHP can be found at: bhp.com
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Dinesh Bishop
Tel: +61 3 9609 3830 Mobile: Mobile: +61 407 033 909
+61 411 071 715
Europe, Middle East and Africa
Europe, Middle East and Africa
James Bell
Neil Burrows Tel: +44 20 7802 7144 Mobile:
Tel: +44 20 7802 7484 Mobile: +44 7961 636 432
+44 7786 661 683
Americas
Americas
Brian Massey
Judy Dane Tel: +1 713 296 7919 Mobile:
Tel: +1 713 961 8283 Mobile: +1 832 870 7677
+1 713 299 5342
BHP Group Limited ABN 49 004 BHP Group plc Registration
028 077 number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, Registered Office: Nova South,
171 Collins Street 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 Tel +44 20 7802 4000 Fax +44
3 9609 3015 20 7802 4111
Members of the BHP Group which is
headquartered in Australia
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BHP extends tender expiry while continuing to progress
discussions with Wyloo Metals
Melbourne, Victoria - November 24, 2021 - 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
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Dinesh Bishop
Tel: +61 3 9609 3830 Mobile: +61 Mobile: + 61 407 033 909
411 071 715 Europe, Middle East and Africa
Europe, Middle East and Africa James Bell
Neil Burrows Tel: +44 2078 027 144 Mobile:
Tel: +44 20 7802 7484 Mobile: +44 7961 636 432
+44 7786 661 683 Americas
Americas
Brian Massey
Judy Dane Tel: +1 713 296 7919 Mobile:
Tel: +1 713 961 8283 Mobile: +1 +1 832 870 7677
713 299 5342
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.
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END
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