Western Metals Corporation Announces Extension of Tender Offer for Common Stock

Rhea-AI Summary

Western Metals Corporation (OTC: WTLC) has announced an extension of its tender offer for all outstanding shares at a price of $0.44 per share, now set to expire on August 24, 2022, at 5:00 p.m. New York City time. The extension allows more time for shareholders to participate, and all terms remain unchanged. Shareholders who have already tendered do not need to take further action. The offer is facilitated by Computershare Trust Company, with Georgeson LLC handling inquiries.

Positive

• Tender offer extended to August 24, 2022, providing more opportunity for shareholder participation.
• Price set at $0.44 per share, which may encourage tendering.

Negative

• Tender offer extension may indicate a lack of sufficient participation from shareholders.
• -

ST. LOUIS--(BUSINESS WIRE)-- Western Metals Corporation (OTC: WTLC) (the “Company”), announced today that it has extended the expiration of its previously announced tender offer for all of the issued and outstanding shares of common stock without par value of the Company (“Shares”), other than the Shares owned by LOTO Energy II, LLC at a price of $0.44 per Share in cash. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on August 24, 2022, unless it is further extended.

The tender offer is being extended in order to allow additional time for shareholders to tender their Shares. All terms and conditions of the tender offer remain unchanged during the extension period. Shareholders who have already tendered their shares do not have to re-tender their shares or take any other action as a result of the extension. Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials, which have been sent to the shareholders.

The transfer agent and the depositary for the Offer is Computershare Trust Company, N.A. The information agent for the tender offer is Georgeson LLC. Shareholders that have questions or need additional copies of the Offer to Purchase and the Letter of Transmittal should contact the information agent at its address and telephone number set forth below.

Georgeson

1290 Avenue of the Americas, 9^th Floor
New York, NY 10104

Shareholders, Banks and Brokers
Call Toll Free:
866-695-6078

Notice to Shareholders

This announcement is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares. The Offer is being made solely pursuant to the Offer to Purchase and the related Letter of Transmittal. Shareholders are urged to read the Offer to Purchase and the related Letter of Transmittal in their entirety, as they contain various terms of, and conditions to, the Offer.

About Western Metals Corporation

Western Metals Corporation is a California corporation that owns and operates two natural gas wells located in Solano County, California.

Forward-Looking Statements

Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will” and “expect” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company does not undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which the Company becomes aware, after the date hereof.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005821/en/

Georgeson LLC, Information Agent

Phone: (866) 695-6078

www.westernmetalscorp.com

Source: Western Metals Corporation

FAQ

What is the new expiration date for the tender offer for WTLC shares?

The tender offer for Western Metals Corporation shares is now set to expire on August 24, 2022, at 5:00 p.m. New York City time.

What is the offer price for the tender offer announced by WTLC?

The tender offer is priced at $0.44 per share in cash.

Who is the information agent for the WTLC tender offer?

The information agent for the tender offer is Georgeson LLC.

What do shareholders need to do regarding the tender offer extension?

Shareholders who have already tendered their shares do not need to re-tender or take any other action due to the extension.

Where can I find more information about the WTLC tender offer?

More information about the tender offer can be found in the Offer to Purchase and related materials provided to shareholders.