Ramelius Kalgoorlie Pty Ltd made an offer to to acquire Breaker Resources NL (ASX:BRB) from Electrum Strategic Opportunities Fund II L.P., managed by The Electrum Group LLC, Paulson & Co. Inc. and others for approximately AUD 130 million on March 20, 2023. Electrum & Paulson, representing 19.9% of Breaker shares have signed pre-bid agreements to accept within 5 days of the Offer opening, in the absence of a superior proposal. As per the terms of the transaction, Ramelius Resources Limited offers one Ramelius share for every 2.82 Breaker Resources NL shares held by a Breaker Resources Shareholder. Ramelius has set the minimum acceptance condition, at the end of bid period at least of 50.1% of shares should be tendered. Breaker?s Directors unanimously recommend Breaker shareholders accept the Offer, in the absence of a superior offer. As of May 3, 2023. Ramelius has achieved the minimum tender offer threshold and now declared the Offer unconditional. The Offer will open on March 29, 2023, and will close on May 1, 2023. As of April 21, 2023, the offer has been extended till May 8, 2023. As of May 1, 2023, the offer has been extended till May 15, 2023. As of May 8, 2023, Ramelius has acceptances equal to 73.09% of Breaker?s shares.

Canaccord Genuity Financial Limited acted as a financial advisor, and Allion Partners acted as a legal advisor to Ramelius. Hopgood Ganim acted as a legal advisor to Breaker. Computershare Investor Services Pty Limited acted as registrar to Ramelius Resources Limited (ASX:RMS). Automic Pty Ltd. acted as registrar to Breaker Resources NL.

Ramelius Kalgoorlie Pty Ltd completed the acquisition of Breaker Resources NL (ASX:BRB) from Electrum Strategic Opportunities Fund II L.P., managed by The Electrum Group LLC, Paulson & Co. Inc. and others on May 15, 2023.