Diatreme's Unconditional Takeover Offer

Diatreme Resources Limited (ASX: $DRX) has extended its unconditional takeover offer for all the ordinary shares in Metallica Minerals Limited (ASX: $MLM) to close on Tuesday, 6 August 2024. Diatreme has increased its relevant interest in Metallica to 87.05% and intends to proceed with compulsory acquisition of any outstanding Metallica Shares if it reaches a 90% relevant interest. Metallica Shareholders who accept the Offer before it closes will receive the Offer Consideration within 10 Business Days.

Diatreme's Intentions and Encouragement to Accept Offer

Diatreme encourages all Metallica Shareholders to accept the Offer now and not wait to participate in the Offer benefits as soon as possible. If Diatreme acquires 90% or more of the Metallica Shares, it intends to compulsorily acquire any outstanding Metallica Shares and remove Metallica from the official list of ASX upon the conclusion of the compulsory acquisition process.

Summary of Diatreme's Takeover Offer

Diatreme Resources Limited (ASX: $DRX) has extended its unconditional takeover offer for Metallica Minerals Limited (ASX: $MLM) to close on 6 August 2024. Metallica Shareholders are encouraged to accept the Offer before the closing date to receive their Offer Consideration within 10 Business Days. Diatreme intends to proceed with compulsory acquisition if it reaches a 90% relevant interest. Metallica Shareholders who have not accepted the Offer before the closing date will be unable to claim their Offer Consideration until after the compulsory acquisition process is completed, likely to be no earlier than six weeks after Diatreme gives the compulsory acquisition notice.