Business
Extension of the Acquisition Deadline
Extension of the Acquisition Deadline.
About this update from Acg Metals Limited Class A
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n28 June 2024\n \nACG Acquisition Company Limited (\"ACG\" or the \"Company\")\nExtension of the Acquisition Deadline, Revisions to the Company's Memorandum and Articles of Association and Exercise of Redemption Rights\n \nACG announces today that the deadline by which an Acquisition must be completed has been extended from 30 June 2024 to 12 October 2024 (such extension, the \"Extension\") through written resolutions (the \"Written Resolutions\") adopted on 27 June 2024 by 73.1% of the Company's Shareholders entitled to vote thereon. The Written Resolutions also effected certain revisions to the then-current Memorandum and Articles of Association of the Company (\"M&A\") as shown in the summary of changes that will be published on the Company's website (https://www.acgcorp.co/). In addition, the Company is providing Class A Ordinary Shareholders with the right to redeem all or a portion of their Class A Ordinary Shares as described and on the terms set forth herein.\n \nBackground and Reason for Extension\n \nThe Company has continued to work diligently on identifying suitable targets for a potential acquisition.\n \nDiscussions with respect to several potential targets are ongoing at various stages and, in respect of one such opportunity, the Company is in advanced discussions for the acquisition of a controlling stake in an operating mine in the EMEA region with an estimated copper equivalent production of 20-25 ktpa (the \"Potential Acquisition\"). The Potential Acquisition would require funding in the order of $250-$300 million through a combination of pre-payment, debt and equity financing. No binding agreement has been entered into in respect of the Potential Acquisition, although one may be executed and announced by the Company at any time. However, there can be no certainty that a binding agreement in respect of the Potential Acquisition or any other opportunity under consideration by the Company will be reached, nor as to the terms and amount of the financing required.\n \nExtension of the Acquisition Deadline\n \nACG announces today that 73....