The Prospector News

PolyMet Receives Non-Binding Proposal to Go Private

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

PolyMet Receives Non-Binding Proposal to Go Private

 

 

 

 

 

PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) announced that its independent Special Committee of PolyMet’s Board of Directors received a non-binding proposal from Glencore AG to acquire all outstanding shares of PolyMet that it does not already own for cash consideration of US$2.11 per share, subject to certain conditions, including the entering into of a definitive agreement. The purchase price per share proposed by Glencore represents an approximately 167% premium over the price of US$0.79 per share at the close of business Friday, June 30, 2023. A copy of the non-binding proposal is attached hereto as Exhibit A.

 

The Special Committee welcomes the engagement with Glencore and the proposal is being reviewed by the Special Committee in accordance with its fiduciary duties and in consultation with its independent financial and legal advisors.

 

PolyMet cautions its shareholders and others considering trading in its securities that no decisions have been made with respect to PolyMet’s response to the proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed or that this or any other transaction will be approved or consummated. PolyMet does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required by applicable law.

 

PolyMet shareholders do not need to take any action at this time.

 

About PolyMet

 

PolyMet is a mine development company holding a 50% interest in NewRange Copper Nickel LLC, a joint venture with Teck Resources. NewRange Copper Nickel holds the NorthMet and Mesaba copper, nickel, cobalt and platinum group metal (PGM) deposits, two globally significant clean energy mineral resources located in the Duluth Complex in northeast Minnesota. The Duluth Complex is one of the world’s major, undeveloped copper, nickel and PGM metal mining regions. NorthMet is the first large-scale project to have received permits within the Duluth Complex.

 

 

 

Posted July 3, 2023

Share this news article

MORE or "UNCATEGORIZED"


Relevant Gold Announces Initial Closing of Strategic Financing

Relevant Gold Corp. (TSX-V:RGC) (OTCQB:RGCCF) is pleased to annou... READ MORE

April 10, 2026

Skeena Gold & Silver Completes US$750 Million Senior Secured Notes Offering & Optimizes Capital Structure

Skeena Resources Limited (TSX: SKE) (NYSE: SKE) announces that it... READ MORE

April 10, 2026

NexGold Intersects 1.79 g/t Gold Over 25.6 Metres at the Goldlund Deposit, Ontario

NexGold Mining Corp. (TSX-V: NEXG) (OTCQX: NXGCF) is pleased to p... READ MORE

April 10, 2026

Aura Announces Preliminary Q1 2026 Production Results, another record high and on track with the Company Guidance

Aura Minerals Inc. (NASDAQ: AUGO) (B3: AURA33) is pleased to anno... READ MORE

April 10, 2026

Santacruz Silver’s Wholly Owned Bolivian Subsidiary, San Lucas, Successfully Completes Oversubscribed Bs 70M Promissory Note Issuance Under New Program, Advancing Transition from Prior Facility

Santacruz Silver Mining Ltd. (NASDAQ: SCZM) (TSX-V: SCZ) is pleas... READ MORE

April 10, 2026

Copyright 2026 The Prospector News