To me it seems the 'arrangement agreement' is an offer to purchase outstanding shares...Wyloo Metals Pty Ltd (“Wyloo Metals”) confirms it submitted an Arrangement Agreement to the Board of Noront Resources Ltd (TSXV:NOT) (“Noront”) for consideration on September 3, 2021.
To me it seems the ball is in Noront's court to reveal the deal as wyloo's hands are tied and cannot submit the offer directly to shareholders.
Noront has some homework to do informing us shareholders of the offer and explaining their secret perk package from BHP.
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https://ca.practicallaw.thomsonreuters.com/3-625-5965?transitionType=Default&contextData=(sc.Default)
Arrangement Agreement
by Practical Law Canada Corporate & Securities
An arrangement agreement between a buyer and a target company with respect to the acquisition of the outstanding common shares of the target company by the buyer under the terms of a plan of arrangement, drafted in favour of the buyer.
