Eramet S.A. acquires Weda Bay in $200 million+ deal

On May 2, 2006 Eramet S.A. and Weda Bay Minerals Inc. (Weda Bay) announced that 91,596,890 common shares of Weda Bay, including shares deposited by guaranteed delivery, representing 95.48% of the Weda Bay common shares outstanding on a fully-diluted basis, were deposited to the joint offer by Eramet S.A. and 3132752 Nova Scotia Limited to acquire all of the issued and outstanding common shares of Weda Bay for C$2.70 in cash per Weda Bay common share. Eramet S.A has extended the offer in order to provide shareholders who have not yet accepted the offer with more time to do so.

Weda Bay was represented by Fasken Martineau with a team led by John Turner that included Greg Ho Yuen, Georges Dubé and Kevin Clinton (corporate/securities) and Mark Warner and Huy Do (competition).