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Fission Energy (TSXV-FIS) Neighbor Hathor gets new $654M bid from Rio Tinto

|Includes:Fission Uranium Corp. (FCUUF)

Hathor suitor Rio Tinto raises offer to $4.70 per share
Ticker Symbol: C:HAT

 

Hathor suitor Rio Tinto raises offer to $4.70 per share

 

Hathor Exploration Ltd (C:HAT)
Shares Issued 125,405,581
Last Close 11/16/2011 $4.87
Thursday November 17 2011 - News Release

Mr. Illtud Harri reports

RIO TINTO INCREASES ALL-CASH OFFER FOR HATHOR EXPLORATION TO C$4.70 PER SHARE WITH REAFFIRMED RECOMMENDATION FROM HATHOR BOARD

Rio Tinto has increased its offer, made through an indirect wholly owned Canadian subsidiary, to acquire all of Hathor Exploration Ltd.'s common shares to C$4.70 in cash per common share.

Rio Tinto's increased offer values Hathor at approximately C$654 million on a fully-diluted basis and represents a premium to Cameco Corporation's unsolicited revised offer of C$4.50 per common share made on 14 November 2011.

The Hathor board of directors has reaffirmed its support for Rio Tinto's increased offer and unanimously recommends that Hathor shareholders accept and tender their common shares to Rio Tinto's increased offer.

The support agreement between the Offeror and Hathor has been amended by the parties to reflect Rio Tinto's increased offer and remains in effect. The lock-up agreements with Hathor directors and senior officers also remain in effect.

The increased offer remains open for acceptance until 5:00pm (Toronto time) on 30 November 2011, unless extended or withdrawn in accordance with its terms. Full details of the increased offer are included in a notice of variation that will be mailed by the Offeror to Hathor securityholders. The increased offer is subject to customary conditions, as described in the original offer and takeover bid circular dated 25 October 2011 and delivered to Hathor securityholders.

Shareholders with questions regarding the Rio Tinto increased offer can contact Rio Tinto's information agent, Laurel Hill Advisory Group toll free at 1-877-452-7184 or collect 416-637-4661 or email assistance@laurelhill.com.

© 2011 Canjex Publishing Ltd.

Stocks: FCUUF