Melbourne, Victoria – November 2, 2021 – BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly owned subsidiary of BHP, announced today that it is currently in discussions with Wyloo Metals Pty Ltd (“Wyloo Metals”) regarding its potential support of BHP’s $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 initial expiry of its offer from 11:59 p.m. (Toronto time) on November 9, 2021 to 7:00 p.m. (Toronto Time) on November 16, 2021. The earliest time BHP will be taking up Noront shares under its bid will be at the new expiry time.
BHP and Wyloo Metals have engaged in initial 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 initial 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.
BHP’s offer expires at 7:00 p.m. (Toronto Time) on November 16, 2021.
