The Rights trade on the
All eligible holders of Common Shares ('Shareholders') of PolyMet (subject to applicable law) have been distributed one Right for every Common Share of PolyMet owned on the record date of
Subject to applicable law, all PolyMet Shareholders have the choice to participate and, by exercising all of their Rights, maintain their existing levels of ownership. Rights holders can, in whole or in part, exercise their Rights and subscribe for Common Shares or sell or assign their Rights to another party. The expiry time ('Expiry Time') of the Rights Offering is
Shareholders who fully exercise their Rights under their basic subscription privilege will be entitled to subscribe for additional Common Shares, if available as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations as set out in the rights offering circular. The company expects to close the Rights Offering on or about
As previously announced, the company entered into a standby purchase agreement with
Further details concerning the Rights Offering, including the terms of the Standby Purchase Agreement, are contained in the company's notice and rights offering circular dated
About PolyMet
PolyMet is a mine development company holding a 50% interest in
Contact:
Tel: +1 (651) 389-4111
Email: brichardson@polymetmining.com
Forward-Looking Statements
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as 'expects,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'potential,' 'possible,' 'projects,' 'plans,' and similar expressions, or statements that events, conditions or results 'will,' 'may,' 'could,' or 'should' occur or be achieved or their negatives or other comparable words. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, the successful closing of the Rights Offering, Glencore's exercise of the Standby Commitment and the company's actual use of proceeds raised under the Rights Offering. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Such risks and uncertainties include, but are not limited to, among other things, receipt of regulatory approvals. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMet's forward-looking statements are based on the beliefs, expectations, and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update (except as required by law) forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.
Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year ended
No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
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