Overview of Diatreme Resources' bid for Metallica Minerals

Diatreme Resources Limited (ASX: $DRX) has issued a first supplementary bidder's statement on 10 April 2024, supplementing its original bidder's statement dated 28 March 2024, in relation to its off-market takeover bid for all the ordinary shares in Metallica Minerals Limited (ASX: $MLM). The company has established an institutional acceptance facility for sophisticated or professional investors holding at least 20,000,000 Metallica Shares, allowing them to participate in the Acceptance Facility.

Executive commentary on the institutional acceptance facility

Diatreme Resources Limited has introduced an institutional acceptance facility to provide Eligible Institutional Shareholders with the ability to register their support for the Offer and their intention to accept the Offer before the Offer becomes or is capable of being declared unconditional. This initiative aims to streamline the acceptance process and accommodate shareholders who may be unable or unwilling to accept the Offer until certain conditions are met. We encourage all Metallica Shareholders to carefully consider their options and seek advice from their financial, legal, or other professional adviser before participating in the Acceptance Facility.

Summary of Diatreme Resources' bid and outlook

Diatreme Resources Limited (ASX: $DRX) has issued a first supplementary bidder's statement, introducing an institutional acceptance facility for sophisticated or professional investors holding at least 20,000,000 Metallica Shares. This move is part of Diatreme's ongoing efforts to facilitate the takeover bid for Metallica Minerals Limited. The company emphasizes the importance of shareholders seeking professional advice before participating in the Acceptance Facility. The establishment of the Acceptance Facility reflects Diatreme's commitment to ensuring a smooth and efficient process for shareholders during the takeover bid.