Zijin Mining Group (OTCMKTS:NTTHF) Offers All-Cash Premium to Neo Lithium Corp

Zijin Mining Group (OTCMKTS:NTTHF) and Neo Lithium Corp have recently announced about entering into a definitive agreement, pursuant to which Zijin has agreed to acquire all of the outstanding shares of Neo Lithium.

The price being offered is C$6.50 per share in cash. The present offer price represents a premium of around 36% over Neo Lithium’s 20-day volume-weighted average price on the TSX Venture Exchange (on October 8, 2021). Total cash consideration of all outstanding equity is estimated at C$960 million.

Waldo A. Perez, President and Chief Executive Officer of Neo Lithium, is glad to offer an all-cash premium to their shareholders, from one of the world leaders of mining. He credits their premier lithium brine exploration team, starting from initial discovery in late 2015 to defining one of the largest and highest-grade lithium brine deposits in the world. Thanks to their efforts, this premium offer has been culminated in only six years.

Chen Jinghe, Chairman of Zijin, says that Neo Lithium’s 3Q lithium brine project in Catamarca, Argentina is one of the largest and highest-grade projects of its kind in the world. It will represent a crucial addition to their company‚Äôs emerging global asset mix, and gives them an opportunity to enter the field of new energy minerals.

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