Metallica Minerals Limited (ASX:MLM)
Brisbane, May 18, 2009 AEST (ABN Newswire) - Metallica Minerals Limited (ASX:MLM) today announced that it will not extend its offmarket takeover offer for all of the shares in Queensland Ores Limited (QOL) past its current closing date.
Metallica notes that QOL has recently announced a proposed 1 for 1 rights issue at an offer price of 0.9 cents per share to raise up to A$1.98 million (QOL Rights Issue).
Metallica confirms it will support the QOL Rights Issue as part of its commitment to providing A$1 million in funding to QOL on the basis set out in the QOL announcement, if Metallica secures acceptances for at least 40% of QOL BY 7:00PM, TUESDAY 19 MAY 2009, and Metallica's offer closes successfully.
As at 9.00am on 18 May 2009, Metallica had acceptances for 32.03% of QOL shares.
There will be no further extensions of Metallica's offer.
Metallica encourages QOL shareholders to act without delay and ACCEPT Metallica's offer.
Contact
Mr Andrew Gillies
Managing Director
Metallica Minerals Ltd
Tel: +61-7-3891-9611
Mr John Haley
Company Secretary/Chief Financial Officer
Metallica Minerals Ltd
Tel: +61-7-3891-9611
Mob: +61-414-018-831
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