LionOre Acquires 94.82% of MPI- Moves to Compulsory Acquisition.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 ASX See: Australian Stock Exchange :LIM)(LSE:LOR) ("LionOre") today announced that it had acquired a relevant interest in 94.82% of shares in MPI Mines Limited ("MPI") under its takeover offer made through its 100% owned subsidiary, LionOre Australia Pty Ltd. The offer is now closed. By acquiring in excess of 90% of MPI shares, LionOre is now entitled, and will proceed, to compulsorily acquire the remaining MPI shares on issue.This will lead to MPI becoming a 100% 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. of LionOre early in the new year. LionOre would like to thank all MPI shareholders who accepted its offer and welcomes them as shareholders of LionOre. 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 and Maggie Hays 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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