21 Jan 2008 14:39
Not for release, publication or distribution in or into the United States of America, Canada, Australia, Republic of South Africa or Japan
For immediate release 21 January 2008 Offer by Metorex Limited ("Metorex") for Copper Resources Corporation ("CRC") Offer lapses
Metorex announces that the Offer for CRC has lapsed. On 18 January 2008, Metorex announced that it had unconditionally contracted to acquire 5,590,000 CRC Shares, representing approximately 6.6 per cent. of the existing issued share capital of CRC. These transactions were carried out off-market via the execution of unconditional sale and purchase agreements on the same terms as the Offer. The CRC Shares were acquired from a number of CRC Shareholders who had previously accepted the Offer. In addition and as previously announced, Metorex has also acquired a beneficial interest in 33,293,392 CRC Shares, representing approximately 39.1 per cent. of the CRC Shares in issue. Therefore, Metorex has unconditionally contracted to acquire CRC Shares and now holds a beneficial interest in a total of 38,883,392 CRC Shares, which combined represent, in aggregate, 45.6 per cent. of the existing issued share capital of CRC.
Save as disclosed in this announcement, neither Metorex nor any of the Metorex Directors, nor any member of their immediate families, nor any person with whom Metorex has an arrangement, had an interest in or a right to subscribe for any relevant securities or had any short position in relation to relevant securities (whether conditional or absolute and whether in the money or otherwise), including any short position under a derivative, any agreement to sell or any delivery obligations or right to require another person to purchase or take delivery, nor had any of the foregoing dealt in any relevant securities during the Offer Period.
As the Offer has now lapsed, CRC Shareholders have ceased to be bound by any acceptance of the Offer.
Enquiries:Metorex Limited:Charles NeedhamTel: +27 (0)11 880 3155
South African corporate adviser and South African sponsor to Metorex Limited:
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Cobus Human
Tel: +27 (0)11 283 0344
South African financial public relations adviser to Metorex Limited:
College HillNicholas WilliamsTel: +27 (0)11 447 3030
______________________________________________________________________________
This Announcement is not intended to and does not constitute, or form part of, an offer or an invitation to purchase or subscribe for any securities. The Offer will be made solely by the Offer Document and the Form of Acceptance, which contain the full terms and conditions of the Offer, including details of how the Offer may be accepted. The availability of the Offer to persons not resident in the United Kingdom may be affected by the laws of the jurisdictions in which they are resident. Persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable legal and regulatory requirements.
The Offer referred to in this announcement is not being made, directly or indirectly, in or into, or by use of the postal services or by any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or by any facilities of a national, state or other securities exchange of, the United States, Canada, Australia, Republic of South Africa or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction, and the Offer cannot be accepted by any such use, means or instrumentality or otherwise from or within the United States, Canada, Australia, Republic of South Africa or Japan or any other such jurisdiction and doing so may render invalid any proposed acceptance of the Offer.
If you are in any doubt about the Offer or the action you should take, you should consult an independent financial advisor authorised under the Financial Services and Market Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial advisor, who specialises in advising on the acquisition of shares and other securities.
Dealing Disclosure Requirements
ENDS
COPPER RESOURCES CORPORATION