Inmet Shareholder Rights Plan Hearing Date Set for February 25, 2013
TORONTO, CANADA -- (Marketwire) -- 02/13/13 -- Inmet Mining
Corporation ("Inmet") (TSX:IMN) today reports that a hearing date has
been set by the Ontario Securities Commission (the "OSC") regarding
the Inmet shareholder rights plan (the "Rights Plan") on February 25,
2013. This hearing will address the application by First Quantum
Minerals Ltd. ("First Quantum") to the OSC to cease trade the Rights
The expiry date of the First Quantum offer to acquire Inmet (the
"First Quantum Offer") is February 27, 2013. The ability to take up
shares under the First Quantum Offer is subject, among other things,
to First Quantum succeeding with its cease trade application.
The Rights Plan is intended to ensure that, in the context of the
First Quantum Offer, the Inmet Board has sufficient time to evaluate
a range of additional strategic alternatives aimed at enhancing
shareholder value. The Rights Plan also seeks to ensure the fair
treatment of shareholders and to provide them with adequate time to
properly assess any potential takeover bid without undue pressure.
Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future
prospects. This press release contains forward-looking information.
These are "forward-looking" because we have used what we know and
expect today to make a statement about the future. These statements
involve known and unknown risks and uncertainties, including those
associated with current global economic and financial conditions,
metal prices, Inmet's share price, the cost and availability of key
development and production inputs, labour shortages or disruptions,
environmental and health and safety risks, reserve and production
estimates, exploration and development of new and existing mines,
political and country risks, additional funding requirements,
financial leverage, the outcome of the First Quantum Offer and the
strategic alternatives process that Inmet is currently undertaking,
and other factors which may cause the actual results, performance or
achievements of Inmet to be materially different from any future
results, performance or achievements expressed or implied
forward-looking statements. Forward-looking statements usually
include words such as may, expect, anticipate, and believe or other
similar words. However, actual events and results could be
substantially different because of the risks and uncertainties
associated with our respective business or events that happen after
the date of this press release. You should not place undue reliance
on forward-looking statements.
Inmet is a Canadian-based global mining company that produces copper
and zinc. We have three wholly-owned mining operations: Cayeli
(Turkey), Las Cruces (Spain) and Pyhasalmi (Finland). We have an 80
percent interest in Cobre Panama, a development property in Panama,
currently in construction.
This press release is also available at www.inmetmining.com.
Inmet Shareholder Contact:
Inmet Mining Corporation
Director, Investor Relations
+1 416 361 4808
Laurel Hill Advisory Group
North American Toll Free: +1 877 452 7184
Banks and Brokers and collect calls outside North America:
+1 416 304 0211
Inmet Media Contact:
Longview Communications Inc.
+1 416 649 8007
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