CNW Group
On August 2, 2021, WC Strategic Opportunity, L.P. ("Wynnchurch"), sold (the "Disposition") an aggregate of 25,000,000 ordinary shares ("Shares") of Champion Iron Limited ("Champion"), through the facilities of the Australian Securities Exchange (ASX) at a price of A$7.50 per Share (corresponding to C$6.87 per Share based on the Bank of Canada exchange rate on July 30, 2021 of A$1.00 equals C$0.9160), for aggregate gross proceeds to Wynnchurch of A$187,500,000 (corresponding to C$171,750,000 based on the Bank of Canada exchange rate on July 30, 2021 of A$1.00 equals C$0.9160).
Immediately prior to the Disposition, Wynnchurch beneficially owned an aggregate of 66,944,444 Shares, representing 13.22% of the issued and outstanding Shares on a non-diluted basis. Immediately following the Disposition, Wynnchurch beneficially owns an aggregate of 41,944,444 Shares, representing 8.28% of the issued and outstanding Shares on a non-diluted basis.
The Shares beneficially owned by Wynnchurch are held for investment purposes. Wynnchurch intends to assess, from time to time, its holdings in Champion, and insofar as it deems it appropriate, based on market conditions and other circumstances and it is permissible in law, Wynnchurch will consider increasing or decreasing its holdings in Champion. Wynnchurch does not have any present intention to acquire ownership of, or control over, additional securities of Champion, or to dispose of securities of Champion, in the future.
An early warning report relating to this transaction will be filed on SEDAR under Champion's profile at www.sedar.com. To obtain a copy of such report, please contact Mr. Michael Marcotte, Vice President, Investor Relations of Champion at 514-316-4858. Champion's head office is located at 1100 Ren-Lvesque Blvd. West, Suite 610, Montral, QC H3B 4N4 and Wynnchurch's address is 6250 N. River Road: Suite 10-100, Rosemont, IL 60018.
SOURCE Wynnchurch Capital, L.P.