RE:RE:Maybe soon?NEW INVESTOR RIGHTS AGREEMENT, LOL End of Rio option ! "May 2025"
Something may happen before May 2025,, but I can't see anything before that date ! IMHO
Rio has a stranglehold on WRN until then,, with the money WRN has now Rio would not have any more leverage ! "It will be buyout time then ! IMO
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WESTERN COPPER AND GOLD ANNOUNCES FURTHER INVESTMENT AND ENTRY INTO A NEW INVESTOR RIGHTS AGREEMENT WITH RIO TINTO
Nov 28, 2023 - News Release
In connection with this further investment by Rio Tinto, the Company and Rio Tinto will enter into an amended and restated investor rights agreement, whereby, subject to certain conditions, including ownership thresholds, Rio Tinto will have certain rights for a period of 18 months from closing of the investment, including the right to appoint:
• one member to the Casino Project Technical and Sustainability Committee
• one non-voting observer to attend all meetings of the board of directors of the Company
• one director of the Company, if Rio Tinto’s ownership increases to at least 12.5%
• up to three secondees to the Casino Project
In addition, Rio Tinto will have a right to participate in future equity issuances to maintain its ownership in the Company and will be provided with a one-time “demand registration right” and “piggy-back registration rights.”
Under the amended and restated investor rights agreement, for a period of 18 months, Rio Tinto has also agreed:
• to vote any shares in favor of each director nominated by the board of directors of the Company for election by shareholders
• not to acquire any securities of the Company, subject to certain exceptions
• not to sell, transfer, offer or otherwise dispose of any shares, subject to certain exceptions