Polymet Mining Corp T.POM

PolyMet Mining Corp. is a mine development company. The Company is engaged in mining copper, nickel and precious metals from the NorthMet ore body. The Company owns the NorthMet Project and Mesaba Project, which is a copper, nickel, cobalt and platinum group metal (PGM) deposits. The NorthMet deposit is located in the Partridge River Intrusion of the Duluth Complex, a geological formation near the eastern end of the Mesabi Iron Range, which is an undeveloped accumulation of copper, nickel and platinum group metals. The Mesaba Project is located in St. Louis County, Minnesota. Its NorthMet is a disseminated sulfide deposit in heterogeneous troctolitic rocks associated with Mid-continent Rift, and is rich with copper, nickel, cobalt, platinum, palladium, gold and silver. The majority of the metals are concentrated in, or associated with, four sulfide minerals: chalcopyrite, cubanite, pentlandite and pyrrhotite.

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Polymet Mining Corp

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Post by Betteryear2on Jul 17, 2023 7:49am

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Post# 35543711

Definitive Agreement for Glencore to Acquire Full Ownership

Transaction provides Minority Shareholders with all-cash consideration of US$2.11 per share and represents a 167% premium to the unaffected closing price on June 30, 2023
Special meeting of shareholders expected to be held at the end of the third quarter of 2023 or early in the fourth quarter of 2023

St. Paul, Minnesota--(Newsfile Corp. - July 17, 2023) - PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) ("PolyMet" or the "company") announced today that, based on the unanimous recommendation of an independent special committee of its board of directors (the "Special Committee"), it has entered into a definitive agreement (the "Agreement") with Glencore AG ("Glencore"), in respect of a transaction whereby Glencore will acquire the approximately 17.8% of the issued and outstanding common shares of the company that Glencore does not currently own (the "Minority Shares") for US$2.11 in cash per share (the "Consideration"), subject to approval by PolyMet shareholders, court approval and other customary closing conditions (the "Transaction").

PolyMet Enters into Definitive Agreement for Glencore to Acquire Full Ownership (newsfilecorp.com)