Tendering your shares is a quick and easy process – and only those who do will be paid.

 

Tender My Shares

The Offer is from BHP Western Mining Resources International Pty Ltd, a wholly owned subsidiary of BHP Lonsdale Investments Pty. Both BHP Western Mining Resources International Pty Ltd and BHP Lonsdale Investments Pty are wholly owned subsidiaries of BHP Group Limited.

Significant Premium:
The Offer represents a premium of:

• 69% to the closing price of C$0.325 per Noront share on the TSXV on July 26, 2021 (the last trading day prior to the announcement of the Offer)
• 75% to Wyloo’s stated price of $0.315/share when it announced an intention to bid for Noront on May 25, 2021
• 129% to Noront’s unaffected share price prior to Wyloo’s announcement

Unanimous Recommendation of the Noront Board of Directors: The Noront Board of Directors, following the recommendation of the Special Committee of the Board and its financial and legal advisors, have determined that accepting the Offer is in the best interests of Noront, and that the Offer price is fair, from a financial point of view, to Noront shareholders, and UNANIMOUSLY RECOMMENDS that shareholders ACCEPT the Offer and deposit their common shares under the Offer.

Fully Financed Cash Offer: The Offer is not subject to a financing condition. The Offeror will satisfy the funding requirements of the Offer from its cash resources.

Shareholder Support: Certain shareholders, including certain members of the Noront Board of Directors, have entered into lock-up agreements to deposit all of their common shares (including common shares to be acquired by them pursuant to the exercise of options or share awards) under the Offer. The common shares subject to the Lock-Up Agreements represent approximately 9.9% of the issued and outstanding common shares on a fully diluted basis.

Avoid Dilution Risk: Noront’s development and exploration projects have significant funding requirements to bring them to the production stage. Noront currently has limited cash to fund the necessary capital projects and near-term debt maturities, which will be a further drain on cash. Equity financing sufficient to repay debt and fund the progress of Noront’s business plan, if available, may be significantly dilutive to Shareholders.

Why Tender Now?