Thunder Bay – MINING – Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company”) announces that it has amended the shareholder rights plan (the “Rights Plan”) previously adopted on May 26, 2021.
The Rights Plan as amended (the “Amended Rights Plan”) is designed to ensure that all Noront shareholders are treated fairly in connection with any take-over bid and to protect against “creeping bids” for the outstanding common shares of Noront (the “Common Shares”) through purchases exempt from applicable take-over bid rules.
Specifically, the Amended Rights Plan has been amended to specify that a special meeting of shareholders of Noront to ratify the Amended Rights Plan shall be held on or before May 26, 2022 (the “Meeting”).
While the Amended Rights Plan is effective as of November 26, 2021, it is subject to ratification by Noront’s shareholders and is subject to approval of the TSX Venture Exchange. If the Amended Rights Plan is not ratified by Noront’s shareholders at the Meeting, the Amended Rights Plan will terminate and all rights issued thereunder will be cancelled. A complete copy of the Amended Rights Plan will be available on SEDAR (www.sedar.com) under Noront’s issuer profile.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.