1172628 B.C. Ltd. (the "Offeror"), a wholly owned subsidiary of Lundin Mining Corporation ("Lundin Mining") is offering to purchase all the outstanding Nevsun Shares (including any Nevsun Shares to be issued upon exercise, exchange or conversion of the Convertible Securities), together with the associated SRP Rights, meaning those rights issued under the Shareholder Rights Plan of Nevsun dated June 8, 2011.
Based on publicly available information, as of April 25, 2018, there were 302,321,670 Nevsun Shares outstanding and 309,871,903 Nevsun Shares on a fully-diluted basis. The Offer includes Nevsun Shares that may become outstanding after the date of this Offer, but before the expiration of the Offer, upon exercise, conversion or exchange of any Convertible Securities. The Offer is not being made for any Convertible Securities or other rights to acquire Nevsun Shares.
Based solely on the above information, the Offeror understands that, assuming the exercise of all Convertible Securities, 309,871,903 Nevsun Shares would be subject to the Offer.
See Section 1 of the Offer, “The Offer” in the Circular.