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Moon River Capital Ltd. to Proceed With Previously Announced Proposed Acquisition of 25% Interest in the Endako Molybdenum Mine

Moon River Capital Ltd. to Proceed With Previously Announced Proposed Acquisition of 25% Interest in the Endako Molybdenum Mine

Moon River Capital Ltd.将继续进行先前宣布的收购恩达科钼矿25%权益的提议
newsfile ·  04/29 12:23

Toronto, Ontario--(Newsfile Corp. - April 29, 2024) - Moon River Capital Ltd. (TSXV: MOO) ("Moon River" or the "Company") is pleased to advise that it intends to proceed with the previously announced share purchase agreement (the "SPA") dated February 28, 2024 with Sojitz Corporation ("Sojitz"), a Japanese multi-national company.

多伦多,安大略省--(新闻稿公司-2024年4月29日)-月河资本有限公司(TSXV:moo)("月河"或"公司非常高兴地宣布,日本综合企业Sojitz Corporation(“Sojitz”)和Moon River Capital Ltd.(“月河”),将继续执行于2024年2月28日签署的股份购买协议(“SPA”)。

On February 28, 2024 the Company announced its intention to indirectly acquire, through the acquisition of Sojitz Moly Resources Inc. ("SMR") (the "Acquisition"), a wholly-owned subsidiary of Sojitz, (i) a 25% participating interest in the Endako molybdenum mine complex in British Columbia (the "Endako Mine Complex") and (ii) certain funding provided by Sojitz to SMR for the Endako Mine Complex in the aggregate of approximately $43,010,000.

2024年2月28日,Moon River宣布其通过收购Sojitz Moly Resources公司(“SMR”)的股权(“并购”),间接收购了以下资产:(i)英属哥伦比亚州Endako钼矿综合体的25%参与权(“Endako Mine Complex”);及(ii)Sojitz向SMR提供的用于Endako Mine Complex的约43,010,000美元的资金。

SMR is the holder of a 25% participating interest in the Endako Mine Complex pursuant to an exploration, development and mine operating agreement dated as of June 12, 1997 (the "JVA") entered into between SMR and Thompson Creek Mining Ltd. (now Thompson Creek Metals Company Inc.) ("TCM"), a subsidiary of Centerra Gold Inc.

SMR是Endako Mine Complex的25%参与权持有人,根据1997年6月12日签署的勘探,开发和矿山运营协议(“JVA”)与Thompson Creek Mining Ltd.(现为Thompson Creek Metals公司),Centerra Gold Inc. 的子公司(“TCM”)之间达成了协议。

The acquisition was subject to the waiver or expiry of an outstanding pre-emptive right relating to SMR's interest in the Endako Mine Complex, which could have been exercised within 60 days of the date notice was provided of the Acquisition. Moon River has received notice from SMR that the pre-emptive right will not be exercised.

收购要求放弃或到期与Endako Mine Complex的SMR利益相关的优先购买权,该优先购买权可以在提供收购通知后的60天内行使。Moon River已收到SMR的通知,表示优先购买权将不会行使。

Paul Parisotto, President and Chief Executive Officer of Moon River said:

Moon River的总裁兼首席执行官Paul Parisotto表示:

"Acquiring a 25% participating interest in the Endako Mine Complex elevates Moon River's position in the Molybdenum space and compliments our existing asset, the Davidson Property which hosts a large molybdenum-tungsten deposit. Davidson is located near Smithers, British Columbia and the Endako Mine Complex is located 160 km to the southeast of the Davidson Property. This close proximity to the Davidson Project makes this an even more compelling acquisition.

“收购Endako Mine Complex的25%参与权将提升月河在钼矿业中的地位,并补充我们现有的Davidson Property资产,该资产拥有一大型钼钨矿床。Davidson位于不列颠哥伦比亚省的Smithers附近,而Endako Mine Complex则位于Davidson Property以东160公里处。这种紧密的邻近关系使这次收购更具吸引力。

Molybdenum has earned the designation of "Critical Mineral" by the Canadian government as it is essential to Canada's economic security and required for Canada's transition to a low-carbon economy. It plays a crucial role in contemporary industrial technology, which requires stainless steels that can withstand high stress, extreme temperature ranges and highly corrosive environments, without adding excessive extra weight.

钼被加拿大政府评为“关键矿物”,因为它对加拿大的经济安全至关重要,而且需要用于加拿大向低碳经济的过渡。 它在现代工业技术中发挥着至关重要的作用,它要求能够承受高压,极端温度范围和高腐蚀环境而不增加过多重量的不锈钢。

Endako is a modern, efficient and established asset and is the largest mine to produce molybdenum in Canada and one of the largest molybdenum mines in North America. We are delighted to have the opportunity to complete this transaction, which is expected to occur within approximately 60 days."

Endako是现代,高效和成熟的资产,是加拿大生产钼最多的矿山之一,也是北美最大的钼矿山之一。我们很高兴有机会完成这笔交易,预计将在约60天内完成。

Highlights of the Proposed Acquisition

拟议收购的亮点:

  • Moon River to acquire SMR (including all of its assets and liabilities) which holds a 25% interest in the Endako Mine Complex;
  • Sojitz to provide the following funding to SMR:
    • $15,475,000, representing SMR's current portion of the environmental reclamation security in respect of the Endako Mine Complex;
    • $25,535,000 to be deposited into trust to fund SMR's future care and maintenance costs and/or future increases to SMR's responsibility for 25% of the environmental and asset retirement obligations for the Endako Mine Complex; and
    • $2,000,000 in cash; and
  • Significant tax losses which could potentially be utilized by SMR in the future;
  • Earn-out payments of up to $10,000,000 in aggregate payable annually by the Company to Sojitz beginning three years following completion of the Acquisition, subject to the future price of molybdenum as described in more detail below.
  • 月河收购SMR(包括其所有资产和负债),该公司持有Endako Mine Complex的25%权益;
  • Sojitz向SMR提供以下资金:
    • 15,475,000美元,代表SMR在Endako Mine Complex方面的环境修复安全保障金的当前部分;
    • 25,535,000美元,将存入信托基金,以资助SMR的未来保养和维护成本和/或Endako Mine Complex的25%环境和退役义务的未来增加;
    • 200万美元现金;和未来3年内,按照以下更详细的说明描述的钼矿石价格(描述如下),公司将向Sojitz支付总额为1000万美元的“赚取奖金”付款。
  • SMR可以将未来的显著税收损失用于自己的目的;
  • 并购完成后3年内,根据未来钼的价格按年支付给Sojitz总额为1000万美元的“赚钱奖金”付款。

The Endako Mine Complex

Endako Mine Complex

SMR is the holder of a 25% participating interest in the Endako Mine Complex pursuant to the JVA.

根据JV协议,SMR持有Endako矿区的25%参与权。

The following information on the Endako Mine Complex is based on public disclosure by Centerra Gold Inc. included in its 2023 Annual Information Form dated March 28, 2024, available on SEDAR+ at .

以下关于Endako矿区的信息基于Centerra Gold Inc.在其2023年3月28日的年度信息申报中的公开信息,可在SEDAR+(加拿大证券信息数据库)上查看。

TCM holds a 75% interest in and is the manager of the Endako Mine Complex.

TCM持有并管理Endako矿区的75%权益。

The Endako Mine Complex is an open-pit molybdenum mine and concentrator, located approximately 161 kilometres west of Prince George, British Columbia. The infrastructure at the Endako Mine Complex includes a 55,000 tons (50,000 tonnes) per day concentrator, tailings and reclaim water ponds, a crushing plant, waste rock dumps, an administrative building, a truck shop/warehouse, a change house, a first aid station, a laboratory, a garage and other shops. The power supply of the site is provided by a nine-kilometre, 69 kV power line owned by B.C. Hydro from a nearby substation. Water for the milling process is re-circulated from the tailings facility while make-up water is pumped from nearby François Lake. There are no royalties, back-in rights, encumbrances on title or other agreements, other than the JVA.

Endako矿区是一座露天钼矿和选矿厂,位于英属哥伦比亚省Prince George西约161公里处。Endako矿区基础设施包括一座每天可处理55,000吨(50,000吨)矿石的选矿厂、尾矿和回收水池、一座破碎厂、废石堆、一座行政大楼、一个卡车维修商店/仓库、一个更衣室、一个急救站、一个实验室、一个车库以及其他商店。该地点的电力供应由B.C. Hydro拥有的一条九公里、69kV电力线提供。制浆过程的水是从尾矿设施回收的,补充水则从附近的François湖泵出。除JV协议外,没有任何版权、回租权、负有负担的权利或其他协议。

Operations at the Endako Mine Complex began in 1965 and were suspended in December 2014 as a result of market conditions and the Endako Mine Complex has been held on a care and maintenance basis since July 2015.

Endako矿区于1965年开始运营,由于市场条件,于2014年12月暂停,自2015年7月以来一直处于护理和维护状态。


Table 1


表1

The historical mineral resource estimates above were prepared in 2011 and were estimated based on a molybdenum price of $14.00 per pound and an exchange rate of 1USD:1.25CAD. The open pit mineral resources are constrained by a pit shell and are estimated based on a 0.025% molybdenum cut-off grade. Further information concerning the Endako Mine Complex deposit is described in the technical report dated September 12, 2011, and filed on SEDAR+ at by TCM. Such technical report describes the exploration history, geology, and style of molybdenum mineralization at the Endako Mine Complex. Sample preparation, analytical techniques, laboratories used, and quality assurance-quality control protocols used during the exploration drilling programs are reported to have been consistent with industry standards and carried out by independent, certified assay labs.

上述历史矿产资源估计数据是在2011年制定的,基于每磅14.00美元的钼价格和1美元对1.25加元的汇率估算。露天采矿矿产资源由露天矿壳所限制,并根据0.025%的钼切割品位估算。关于Endako矿区矿床的更多信息可参考TCM于2011年9月12日的技术报告,并在SEDAR+上查看。该技术报告描述了Endako矿区的勘探历史、地质和钼矿矿化类型。勘探钻探项目期间所使用的样品制备、分析技术、实验室以及所使用的质量保证-质量控制协议遵循了工业标准,并由独立的认证化验实验室进行了实验。

A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and Moon River is not treating the historical estimates as current mineral resources. The scientific and technical content of this news release was reviewed and approved by Brian LeBlanc, P. Eng of A-Z Mining Professionals Ltd., and a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

一位合格的专业人员没有进行足够的工作以将历史估计归类为当前的矿产资源,因此Moon River也不将历史估计视为当前的矿产资源。本新闻公告的科学和技术内容由A-Z Mining Professionals Ltd.的P. Eng Brian LeBlanc审核并批准,他是《43-101矿产项目披露标准》所定义的"合格人员"。

The Acquisition

收购

Pursuant to the SPA, the Company has agreed to acquire, on an arm's length as is where is basis, all issued and outstanding common shares of SMR in consideration for $1.00 and four annual earn-out payments (each an "Earn-out Payment") beginning on the third anniversary of completion of the Acquisition and ending on the sixth anniversary of completion of the Acquisition.

根据SPA协议,本公司同意考虑出价1.00美元的代价获取SMR全部普通股,并支付四笔年度附加款项(每笔"附加款项"),自完成收购后的第三个周年开始支付。

Each Earn-out Payment shall be determined based on the average market price of molybdenum for a period from the anniversary of the closing date of the Acquisition in the previous calendar year to the date immediately prior to the next anniversary date, in accordance with the following table:

每笔附加款项将按以下表格根据从收购完成后前一个日历年度纪念日开始到下一个纪念日前一天的一段时期内的钼的平均市场价格确定:


Table 2


表2

The Earn-out Payments payable by the Company to Sojitz shall not exceed $10 million in the aggregate and are payable irrespective of whether or not the Endako Mining Complex is in production at such time. As at the date hereof, the market price of molybdenum is US$20.50, based on information from the London Metals Exchange.

本公司向Sojitz支付的每一笔附加款项仅在累计不超过1000万美元,并且不论Endako矿区是否在生产的情况下均应支付。截至本文,根据伦敦金属交易所的信息,钼的市场价格为每磅20.50美元。

Sojitz, in turn, has agreed to:

反过来,Sojitz同意:

(i) deposit $15,475,000, subject to adjustment prior to closing as required by governmental authorities, in a bank account in SMR's name for the purposes of satisfying SMR's reclamation security obligations pursuant to the mine permit for the Endako Mine Complex (the "Environmental Security");

(i)预先将1547.5万美元存入以SMR名义开设的银行账户,以满足Endako矿区根据采矿许可证的复垦安全义务("环境保证");

(ii) deliver approximately $25,535,000 (the "Trust Funds"), subject to adjustment prior to closing as described below, to TSX Trust Company (the "Trustee") to establish a trust fund administered by the Trustee for the purpose of paying for SMR's share of care and maintenance and other environmental expenses in respect of the Endako Mine Complex following closing; and

(ii)提供约2553.5万美元("信托资金"),根据以下说明在收盘前交由加拿大证券监管机构TSX Trust Company ("Trustee") 管理的一项信托基金,以支付SMR关于收购完成后Endako矿区的护理、维护和其他环境费用分摊部分的支出;以及

(iii) cause SMR to have funds in a bank account in an amount of $2,000,000.

(iii)使SMR在银行账户中拥有200万美元的资金。

The Company, Sojitz and SMR have agreed to enter into a trust indenture with the Trustee pursuant to which the Trust Funds will be placed in an irrevocable single-purpose trust for the exclusive purpose of providing funding for SMR's share of the care and maintenance of the Endako Mine Complex and satisfaction of other environmental obligations of SMR relating to the Endako Mine Complex.

本公司、Sojitz和SMR已同意与受托人签署信托契约,根据该契约,信托资金将被置于一个不可撤销的专用信托中,目的是提供SMR护理和维护Endako矿区以及满足SMR与Endako矿区相关的其他环境义务所需的资金。

The amount of the Trust Funds shall be determined immediately prior to closing subject to adjustments related to the Environmental Security and payments made by Sojitz with respect to the 2023 and 2024 plans and budgets of the Endako Mine Complex prior to closing.

信托基金的金额应在收购前立即确定,但受环境保证和Sojitz在收购完成前的2023年和2024年计划和预算方面付款相关的调整限制。

The Acquisition is subject to a number of conditions precedent, including receipt of all corporate and regulatory approvals (including the approval of the TSX Venture Exchange), and obtaining clearance under the Investment Canada Act.

这项收购取决于许多先决条件,包括获得所有公司和监管批准(包括TSX Venture Exchange的批准),并获得加拿大投资法案的审核。

About Moon River

关于Moon River

Moon River is a Canadian-based resource company focused on the acquisition, exploration and development of mineral projects. Moon River is focused on the development of the Davidson Property which hosts a large molybdenum-tungsten deposit and is located near Smithers, British Columbia.

Moon River是一家总部位于加拿大的资源公司,专注于收购、勘探和开发矿产项目。Moon River专注于开发戴维森产区,该区域拥有大型钼-钨矿床,位于英属哥伦比亚省史密瑟斯附近。

For further information please contact:

要了解更多信息,请联系:

Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or info@moonrivermoly.com.

请拨打总裁、首席执行官兼董事Paul Parisotto的电话416-800-1753或发送电子邮件至info@moonrivermoly.com。

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

TSXV及其监管服务提供商(如TSXV的政策所定义)不接受对本发布的充分性或准确性的责任。

Forward-Looking Statements:

前瞻性声明:

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions, which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements concerning the Acquisition, and the Company's ability to close the Acquisition. These forward-looking statements reflect the current views of the Company, represent the expectations of the Company as of the date of this news release, and are based on certain assumptions that the Company has made in respect thereof as at the date of this press release.

本新闻发布包含前瞻性声明和前瞻性信息(合称“前瞻性声明”),适用证券法中的含义。本新闻发布中包含的非历史事实的声明可能被视为前瞻性声明。前瞻性声明通常以“可能”、“应该”、“预计”、“将会”、“估计”、“相信”、“打算”、“期望”等表达方式来标识前瞻性声明。尤其是并不限于,本新闻发布包含有关收购和公司完成收购的前瞻性声明。这些前瞻性声明反映了公司的当前观点,代表了公司在本新闻发布日期的预期,并且基于公司在本新闻发布日期作出的某些假设。

Although the Company believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including risks detailed in the Company's Filing Statement and continuous disclosure, which are available on SEDAR+ at . Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release.

尽管公司认为本新闻发布中所反映的前瞻性声明的预期和实质因素和假设自本文日期合理,但无法保证这些预期、因素和假设将被证明是正确的。这些前瞻性声明并非未来表现的保证,且受到许多明确或隐含的已知和未知风险和不确定性的影响,包括在SEDAR+上可获得的公司的申报书和持续性披露中提到的风险。因此,读者不应将本新闻发布中包含的前瞻性声明过度依赖。

These risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this document speak only as of the date of this document. The Company does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

这些风险因素不应被视为详尽无遗。读者应该注意,事件或情况可能会导致预测、预计或展望的结果与实际结果存在差异。本文中包含的前瞻性声明仅适用于本文日期。公司不承担更新或修订任何前瞻性声明或信息的公开义务,除非适用法律规定。本文件中包含的前瞻性声明明确受到此警告性声明的限制。

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