BRIEF-Pilbara Minerals Announces Conditional Agreement To Acquire Altura Lithium Operations

Reuters
2020-10-28

Oct 28 (Reuters) - Pilbara Minerals Ltd :

* PILBARA MINERALS LTD - CONDITIONAL AGREEMENT TO ACQUIRE ALTURA LITHIUM OPERATIONS-PLEASE.AX

* DEAL FOR APPROXIMATELY US$175 MILLION

* ENTERED INTO IMPLEMENTATION DEED WITH SENIOR SECURED LOAN NOTEHOLDERS OF ALTURA TO POTENTIALLY ACQUIRE ALTURA LITHIUM PROJECT

* LOAN NOTEHOLDERS AGREED TO VOTE IN FAVOUR OF PILBARA SPONSORED DEED OF CO ARRANGEMENT FOR ALO SHOULD ACQUISITION PROCEED

* CO PROCURED RIGHT TO MATCH ANY COMPETING PROPOSAL OFFERED FOR ALTURA PROJECT

* UPFRONT CASH CONSIDERATION TO BE PREDOMINANTLY FUNDED THROUGH FUTURE EQUITY CAPITAL RAISING

* FUTURE EQUITY RAISE SUPPORTED BY COMMITMENTS FROM AUSTRALIANSUPER PTY LTD, RESOURCE CAPITAL FUND VII FOR A$240 MILLION

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((Reuters.Briefs@thomsonreuters.com;))

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