VANCOUVER and FUJIAN, China, Jan. 7,
2019 /PRNewswire/ - Nevsun Resources Ltd. (TSX: NSU) (NYSE
AMERICAN: NSU) ("Nevsun") and Zijin Mining Group Co. Ltd.
(SH:601899, SEHK:2899) ("Zijin") today announced that in connection
with Zijin's offer to purchase all of the issued and outstanding
common shares of Nevsun ("Nevsun Shares") for C$6.00 per Nevsun Share (the "Offer"), an
additional 9,526,987 Nevsun Shares ("Additional Shares"),
representing approximately 3.07% of all issued and outstanding
Nevsun Shares, have been deposited under the Offer and not
withdrawn during the extension period. Zijin thanks all the
shareholders who have tendered their Nevsun Shares for their
continued support of the Offer.
Zijin, through its subsidiary, has taken up all of the
Additional Shares and will pay the depositary the aggregate
consideration of $57,161,922 for the
Additional Shares on January 8, 2019.
As a result of the take up and upon payment of all of the
Additional Shares, and the 276,820,575 Nevsun Shares taken-up on
December 28, 2018, Zijin will own
approximately 92.44% of the total issued and outstanding shares of
Nevsun.
As the Offer has now expired, Zijin intends to acquire the
balance of the Nevsun Shares by way of compulsory acquisition, as
more fully described in the Offer circular. A notice of compulsory
acquisition is expected to be mailed in the coming days to Nevsun
shareholders who did not tender their shares to the Offer.
Shareholders are encouraged to carefully review the notice of
compulsory acquisition and complete and return the letter of
transmittal, together with the certificates representing their
Nevsun Shares, in accordance with the instructions included in the
notice of compulsory acquisition in order to receive payment for
their shares as soon as possible.
Zijin intends to apply to de-list the Nevsun Shares from the
Toronto Stock Exchange and the New York Stock Exchange effective on
the completion of the compulsory acquisition. In addition, on
completion of the compulsory acquisition, Zijin intends to cause
Nevsun to cease to be a reporting issuer under the securities laws
of each province of Canada in
which it is a reporting issuer and to cease to have public
reporting obligations in any other jurisdiction in which it
currently has such obligations.
Forward Looking Statements
Certain statements and information in this press release,
including all statements that are not historical facts, contain
forward-looking statements and forward-looking information within
the meaning of applicable securities laws. Such forward-looking
statements or information include but are not limited to statements
or information with respect to the anticipated completion of a
compulsory acquisition. Often, but not always, forward-looking
statements or information can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"projects", "anticipates" or "does not anticipate" or "believes" or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. With respect to
forward-looking statements and information contained in this press
release, there can be no assurance that any forward-looking
statement or information herein will prove to be accurate.
Forward-looking statements and information by their nature involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. While Nevsun may elect
to update the forward-looking statements at any time, Nevsun does
not undertake to update them at any particular time or in response
to any particular event, other than as may be required by
applicable securities laws. Investors and others should not assume
that any forward-looking statement in this press release represent
Nevsun's estimate as of any date other than the date of this press
release.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is
the 100% owner of the high-grade copper-gold Timok Upper Zone and
60.4% owner of the Timok Lower Zone in Serbia. The Timok Lower Zone
is a joint venture with Freeport-McMoRan Exploration Corporation
("Freeport") which currently owns 39.6% and upon completion of any
feasibility study (on the Upper or Lower Zone), Nevsun Resources
Ltd. will own 46% and Freeport
will own 54%. Nevsun generates cash flow from its 60% owned
copper-zinc Bisha Mine in Eritrea.
About Zijin Mining Group Co. Ltd.
Formed in 1993,
Zijin is based in Fujian, China
and is a leading global mining company specializing in gold,
copper, zinc and other mineral resource exploration and
development. It manages an extensive portfolio, primarily
consisting of gold, copper, zinc, and other metals through
investments in China and overseas
across nine countries. Listed on the Shanghai Stock Exchange and
the Hong Kong Stock Exchange, Zijin has a market capitalization of
approximately US$10 billion.
NEVSUN RESOURCES LTD.
"Xian Jian Guo"
Xian Jian Guo
Chief Executive Officer
ZIJIN MINING GROUP CO. LTD.
Lan Fusheng
President & Vice Chairman
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SOURCE Nevsun Resources Ltd.