Business
CHAMPION IRON COMPLETES THE ACQUISITION OF RANA GRUBER
/ SYDNEY, April 11, 2026 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is pleased to announce that payment instructions have been effectuated for the payment and completion of its previously disclosed voluntary cash tender offer (the "Offer") to acquire all of the issued and outstanding shares of Rana Gruber ASA ("Rana Gruber"), a leading Norwegian producer of high-purity iron ore, at a price of NOK 79 per share in cash (the "Transaction"). Acceptance
About this update from Rana Gruber Asa
[{"type":"text","content":"MONTRÉAL, April 10, 2026 /CNW/ - / SYDNEY, April 11, 2026 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is pleased to announce that payment instructions have been effectuated for the payment and completion of its previously disclosed voluntary cash tender offer (the "Offer") to acquire all of the issued and outstanding shares of Rana Gruber ASA ("Rana Gruber"), a leading Norwegian producer of high-purity iron ore, at a price of NOK 79 per share in cash (the "Transaction"). Acceptances of the Offer were received from a total of 34,297,377 shares held by Rana Gruber's shareholders, representing 92.48% of the issued and outstanding share capital and voting rights of Rana Gruber.","length":788,"tagName":"p"},{"type":"text","content":"Champion's CEO, Mr. David Cataford, said: "The closing of this transaction marks a defining milestone for Champion. Combining our businesses strengthens our leadership as a sustainable supplier of high-purity iron ore produced with a low-carbon footprint, while preserving the culture, expertise, and pride that define both companies. Rana Gruber's proximity to European customers complements Bloom Lake's high-purity products and its Direct Reduction Pellet Feed project, currently in the commissioning phase. We look forward to working closely with Rana Gruber's team to unlock value for our stakeholders and continue to positively impact our host communities."","length":689,"tagName":"p"},{"type":"text","content":"Rana Gruber's CEO, Mr. Gunnar Moe, added: "Today marks the beginning of a new chapter for Rana Gruber. For more than 60 years, we have built a strong operational track record and earned a trusted position as a leading supplier of high-purity iron ore to the European steel industry. This transaction brings together complementary assets and a shared vision to strengthen our leadership position in the iron ore market. Champion's strong alignment with our strategy, values, and commitment to sustainability provides a solid foundation to support our long-term ambitions. We are confident that our collaboration with the Champion team will enhance our ability to create value for our employees, customers, and the Mo i Rana community."","length":752,"tagName":"p"}...