Consideration for the Acquisition to be $33.00 per share in a mix of cash and Lundin Mining shares; concurrently, Filo announces a C$115 Million Private Placement to BHP and Lundin Mining in connection with the Acquisition
VANCOUVER, BC, July 29, 2024 /CNW/ - Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo", or the "Company") is pleased to announce it has entered into a binding agreement (the "Arrangement Agreement") with BHP ("BHP") and Lundin Mining Corporation ("Lundin Mining", together with BHP, the "Purchaser Parties") (TSX: LUN) (OMX: LUMI) whereby the Purchaser Parties will acquire all of the outstanding common shares of Filo that they do not already own (the "Filo Shares") through a plan of arrangement (the "Transaction"). PDF Version
Concurrent with the Transaction, BHP and Lundin Mining will form a Canadian joint venture ("JV") into which the Filo del Sol copper-gold-silver project and the Josemaria copper-gold project (currently 100% owned by Lundin Mining and located in the San Juan Province of Argentina in the same region as Filo del Sol) will be contributed, allowing for the joint development of the Vicuña district. BHP and Lundin Mining will each own a 50% interest in the JV following the Transaction.
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