Inmet to Waive Shareholder Rights Plan
TORONTO, CANADA -- (Marketwire) -- 02/19/13 -- Inmet Mining
Corporation ("Inmet" or the "Company") (TSX:IMN) announced today that
its Board of Directors has decided to waive the application of its
Shareholder Rights Plan (the "Rights Plan"), effective as of 3:00 pm
ET on February 27, 2013. As such, the Ontario Securities Commission
(the "OSC") hearing scheduled for February 25, 2013 to address the
application by First Quantum Minerals Ltd. ("First Quantum") to cease
trade the Rights Plan will no longer be required, and such notice
will be provided to the OSC. Inmet has taken this action because the
February 27, 2013 expiry date of the First Quantum unsolicited offer
provides sufficient time for the full review and potential execution
of all strategic alternatives being evaluated by the Inmet Board and
its Special Committee. Inmet will provide shareholders with further
information regarding its strategic alternatives as appropriate and
prior to the expiry of the First Quantum offer.
The Inmet Board continues to recommend that Inmet shareholders REJECT
the First Quantum offer and do not tender their shares. Shareholders
who have already tendered their shares and wish to withdraw shares
should contact their broker to withdraw their shares as soon as
possible. Shareholders who have questions or require any assistance
are asked to contact Inmet's information agent, Laurel Hill Advisory
Group, at +1 877 452 7184.
Forward looking information
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,
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 by such
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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