LionOre's Recommended Takeover Offer for MPI Mines Limited-Extension of Offer Period to December 22, 2004.TORONTO & PERTH, Western Australia This article is about the metropolitan area of Perth, Western Australia. For the local government area, see City of Perth. Perth is the capital of the Australian state of Western Australia. -- LionOre Mining International Ltd (TSX:LIM) (ASX:LIM) (LSE:LOR) ("LionOre") today announced that it had extended the closing date of its takeover offer for Australian Stock Exchange-listed mining company MPI Mines Limited ("MPI"). The offer, which was due to close on December 15, 2004, will now close at 5.00pm Australian eastern daylight saving time daylight saving time (DST), time observed when clocks and other timepieces are set ahead so that the sun will rise and set later in the day as measured by civil time. December 22, 2004. The decision to extend the closing date has been made in order to give MPI shareholders who have not already done so additional time to accept the offer in the busy pre-Christmas period. LionOre's offer, made by its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. LionOre Australia Pty Ltd, has been unanimously recommended by the Board of MPI in the absence of a superior offer emerging. Acceptances of LionOre's offer continue to be received and LionOre has acceptances and agreements to accept constituting relevant interests in 26.99% of the MPI shares on issue as at close of business on December 7, 2004. LionOre encourages all MPI shareholders to accept the offer. LionOre reserves the right to further extend the closing date of the offer period. About LionOre: LionOre Mining International Ltd is an international mining company with a strong record of growth through an integrated program of acquisitions, exploration success, and operational efficiency. The Company also owns the Activox(R) process, a proprietary technology for processing metal concentrates. LionOre's major mining assets include the Phoenix nickel mine in Botswana and the Emily Ann nickel and Thunderbox gold mines in Australia. LionOre also has several highly prospective nickel exploration and development properties. LionOre trades on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. under the symbol "LIM" and on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "LOR" LionOre Mining International Ltd. (TSX:LIM) (LSE:LOR) (ASX.:LIM) |
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