Nov 10 (Reuters) - Andromeda Metals Ltd (ADN) : CO & MINOTAUR...

Nov 10 (Reuters) - Andromeda Metals Ltd (ADN) :

• CO & MINOTAUR EXPLORATION ENTERED INTO A BID IMPLEMENTATION AGREEMENT
• TO BUY MINOTAUR VIA UNANIMOUSLY RECOMMENDED OFF-MARKET TAKEOVER OFFER
• UNDER OFFER, MINOTAUR SHAREHOLDERS WILL GET 1.15 ANDROMEDA SHARES FOR EVERY 1 MINOTAUR SHARE HELD
• TO BUY MINOTAUR WITH 1.15 NEW ANDROMEDA SHARES OFFERED FOR EVERY 1 MINOTAUR SHARE
• MINOTAUR INTENDS TO DEMERGE ITS EXISTING COPPER AND GOLD EXPLORATION ASSETS VIA ITS UNIT, BREAKAWAY RESOURCES
• OFFER VALUES MINOTAUR AT 20.8 AU CENTS PER SHARE
• OFFER AND DEMERGER WILL BE UNDERTAKEN IN PARALLEL, WITH DEMERGER COMPLETED BY WAY OF AN EQUAL CAPITAL REDUCTION
• MINOTAUR SHAREHOLDERS WILL OWN ABOUT 19.5% OF ANDROMEDA POST THE OFFER BEING FULLY IMPLEMENTED
• MINOTAUR INTENDS TO LIST BREAKAWAY ON ASX