Business
FARALLON ANNOUNCES TAKE-UP OF SHARES BY NYRSTAR NV
Jan. 5, 2011 (Canada NewsWire Group) -- Compulsory Acquisition Process to Commence VANCOU...

About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\n Jan. 5, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCompulsory Acquisition Process to Commence\n\n\nVANCOUVER, Jan. 5 /CNW/ - Farallon Mining Ltd. ("Farallon" or the\n "Company") (TSX:FAN) today announced that it has been advised that\n 462,400,996 (or approximately 93.7%) of its common shares (the\n "Shares") on a fully-diluted basis were validly deposited pursuant to\n the previously announced offer by Nyrstar NV ("Nyrstar") to acquire all\n of the outstanding common shares of Farallon (the "Offer").\n\n\nThe Offer was conditional on a number of customary conditions, including\n a minimum acceptance condition of 66 2/3%, receipt of all regulatory\n approvals and no material adverse change in Farallon's business. All of\n these conditions have been satisfied and Nyrstar Canada has given\n notice to the depositary that it will take up and pay for all of the\n Shares deposited under the Offer. Payment for the deposited shares will\n be made on or before January 12, 2011.\n\n\nNyrstar has also indicated that it intends to exercise its statutory\n rights under the compulsory acquisition provisions of the. Business\n Corporations Act (British Columbia) to acquire the remaining common\n shares of Farallon that were not deposited pursuant to the Offer. Under\n the terms of the compulsory acquisition, shareholders of Farallon will\n be offered the same Cdn.$0.80 in cash for each common share acquired by\n the acquisition p...