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Noront Board Determines Wyloo Metals' Proposal As Superior Proposal To BHP Offer

(RTTNews) - Noront Resources Ltd. (NOT.V) has settled the terms of a proposal from Wyloo Metals Pty Ltd. and Wyloo Canada Holdings Pty Ltd under which Wyloo Metals would acquire up to 100% of the common shares of Noront for C$0.70 in cash. The Noront Board has determined that the Wyloo offer constitutes a superior proposal as compared to the outstanding BHP offer.

BHP has five business days to negotiate with the company to amend the terms of the existing support agreement, Noront noted.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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