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"


Emerita Intersects 7.2m Grading 1.0% Copper, 4.0% Lead, 7.5% Zinc, 0.13 g/t Gold and 83.32 g/t Silver at La Infanta Deposit; Deep Hole Extends the La Infanta Deposit Limits at Depth

Emerita Resources Corp. (TSX-V: EMO) (OTCQX: EMOTF) (FSE: LLJA) reports results from recent drilling... READ MORE

June 2, 2026

GreenLight Metals Intersects 27.72m of 1.07% Cu and 0.97 g/t Au (2.10% CuEq) including 15.65m of 1.66% Cu and 1.39 g/t Au (3.14% CuEq) at the Bend VMS Deposit in Wisconsin

GreenLight Metals Inc. (TSX-V: GRL) (OTCQB: GRLMF) is pleased to provide an update on the dri... READ MORE

June 2, 2026

Vior Gold Corporation Extends High Grade Mineralization at Depth

VIOR GOLD CORPORATION INC. (TSX-V: VIO) (OTCQB: VIORF) (FRA: VL5) is pleased to announce new results... READ MORE

June 2, 2026

Aya Gold & Silver Reports High-Grade Exploration Drill Results Near Pit Depth at Zgounder

Aya Gold & Silver Inc. (TSX: AYA) (NASDAQ: AYA) is pleased to announce high-grade silver ... READ MORE

June 2, 2026

Emperor Metals Confirms High-Grade Gold Mineralization Highlighted by 35.9 Meters Grading 3.1 g/t Au, Including 24.7 Meters of 4.0 g/t Au

Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) is pleased to report on the progress of i... READ MORE

June 2, 2026

Copyright 2026 The Prospector News