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Neo Lithium Corp. acquired by Zijin Mining Group Co., Ltd.

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Neo Lithium Corp.

On January 26, 2022, Zijin Mining Group Co., Ltd. ("Zijin") and Neo Lithium Corp. ("Neo Lithium") completed a plan of arrangement pursuant to which Zijin acquired all of the outstanding shares of Neo Lithium at a price of C$6.50 per share in cash. The total cash consideration for all of the outstanding equity of Neo Lithium was approximately C$960 million.

Neo Lithium Corp. owns and operates the 3Q lithium brine project in Argentina.

Zijin is one of the largest mining companies in China as well as a leading global gold and copper producer. It manages an extensive portfolio, primarily consisting of gold, copper, zinc, and other metals through investments in China and twelve overseas countries across Europe, Central Asia, Africa, Oceania and South America. Listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, Zijin has a market capitalization of approximately US$40 billion.

Fasken advised Neo Lithium in connection with this transaction with a team that included Paul Fornazzari, Bradley Freelan, Myroslav Chwaluk, Brad Moore, George Soules, Taylor West, Huy Do, Andrew House and Mitchell Thaw.


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