Lundin Mining To Acquire Josemaria - Quick Facts

(RTTNews) - Josemaria Resources Inc. (JOSE.TO) has entered into a binding agreement with Lundin Mining (LUN.TO), under which Lundin will acquire all of outstanding common shares of Josemaria. Lundin Mining will acquire 100% of the Josemaria copper-gold project located in the San Juan Province of Argentina.

Josemaria shareholders will receive total consideration of approximately C$625 million on a fully diluted basis, representing C$1.60 per Josemaria common share. Josemaria shareholders will be able to elect to receive the consideration as either: C$1.60 in cash; or 0.1487 Lundin Mining shares, or some combination of cash and shares. On closing, Josemaria shareholders are expected to own approximately 5% of Lundin Mining, on a fully diluted basis.

Peter Rockandel, President and CEO, Lundin Mining said: "The acquisition of the Josemaria project complements Lundin Mining's existing portfolio of high-quality mines and highlights our focus on disciplined copper-focused growth to create long-term shareholder value."