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BHP and Lundin Mining to Acquire Filo for C$4.5 Billion
BHP and Lundin Mining to Acquire Filo for C$4.5 Billion Canada NewsWire C...
About this update from Lundin Mining Corporation
[{"type":"text","content":"\n\n\n\n BHP and Lundin Mining to Acquire Filo for C$4.5 Billion\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n Consideration for the Acquisition to be\n \n $33.00\n \n per share in a mix of cash and Lundin Mining shares; concurrently, Filo announces a\n \n C$115 Million\n \n Private Placement to BHP and Lundin Mining in connection with the Acquisition\n \n\n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n July 29, 2024\n \n\n /CNW/ -\n \n Filo Corp.\n \n (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\n \n\n 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\n \n Argentina\n \n 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.\n \n\n\n Highlights of the deal\n \n\n\n\n Crystalizes immediate value for Filo shareholders and delivers a clear and credible path to developing Filo del Sol to its full potential, backed by two of the world's leading copper miners;\n \n\n Consolidation of two key assets in the Vicuña district by the JV creates a market-leading operational footprint in the district and offers:\n \n\n Strong balance sheet capacity to fund future project development;\n \n\n Potential to capture synergies and operational efficiencies; and\n \...