Commander Resources Confirms Expiry of Unsolicited Takeover Bid by FruchtExpress Grabher GmbH & Co KG
Rhea-AI Summary
Commander Resources (TSXV: CMDRF) has announced the expiry of the unsolicited takeover bid by FruchtExpress Grabher GmbH & Co KG (FEx). The all-cash bid failed to meet the required tender conditions. Despite this, Commander and FEx have agreed to collaborate on future endeavors.
Commander's Board and Management remain committed to their strategy of building a Canada-based copper explorer. The company's portfolio includes three porphyry copper-gold projects, a high-grade copper-gold VMS project, and a carried interest in a copper-gold project. With a strong treasury and tight capital structure, Commander is well-positioned to explore value-maximizing opportunities for shareholders.
The company has engaged GenCap Mining Advisory as its financial advisor and Harper Grey LLP as legal advisor. Laurel Hill Advisory Group provided proxy solicitation and advisory services.
Positive
- Strong treasury and tight capital structure
- Diverse portfolio of copper-gold projects
- Potential for value-maximizing opportunities
Negative
- Expiry of unsolicited takeover bid
News Market Reaction
On the day this news was published, CMDRF declined 11.99%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2024) - Commander Resources Ltd. (TSXV: CMD) ("Commander" or "the Company") today confirms that the FruchtExpress Grabher GmbH & Co KG ("FEx") all-cash unsolicited takeover bid for Commander has expired having failed to meet the required tender conditions. The Company and FEx have engaged in many discussions over the past weeks and have mutually agreed to let this bid expire and we look forward to working collaboratively on future endeavours of Commander. We thank our shareholders for their support and commitment.
Corporate Strategy and Goals
Commander's Board and Management remain committed to a strategy that has established a successful record of building a Canada-based copper explorer with an enviable copper-gold exploration portfolio. The current project portfolio includes three porphyry copper-gold projects, a high-grade copper-gold VMS project, and a carried interest in a copper-gold project amongst other property assets.
The Company is in a strong position to explore value maximizing opportunities for shareholders, with a strong treasury and a tight capital structure which will allow the company to access more advanced assets either through options or direct M&A activity.
More details about the Company's corporate strategy and goals can be found on Commander's website at https://commanderresources.com/investors/presentation.
Advisors
The Company has engaged GenCap Mining Advisory as its financial advisor and Harper Grey LLP. as legal advisor. Laurel Hill Advisory Group who provided proxy solicitation and advisory services.
Qualified Person
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release. All fieldwork completed to date and on-site supervision of the drill program was by Stephen Wetherup P. Geo.
About Commander Resources Ltd.
Commander is a Canadian focused exploration company that has leveraged its success in exploration through a combination of partnerships and sole funded exploration. Commander plans to drill our top priority projects as well as advance or partner out the next tier of
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-778-989-1501
info@commanderresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222555
FAQ
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