Gernandt & Danielsson has advised Filo Corp. in connection with the arrangement agreement with BHP Investments Canada Inc. ("BHP") and Lundin Mining Corporation ("Lundin Mining") whereby BHP and Lundin Mining will acquire all of the outstanding common shares of Filo Corp. through a plan of arrangement.

Under the terms of the transaction, Filo shareholders, excluding BHP and Lundin Mining, will receive total consideration of approximately C$4.1 billion, representing C$33.00 per Filo share. The transaction will be carried out by way of a court-approved plan of arrangement under the Canada Business Corporations Act and is subject to the approval by Filo shareholders, court approval, regulatory approvals including by the TSX, and the admission to trading of the new Lundin Mining shares and other customary closing conditions. The transaction is expected to be completed in the first quarter of 2025.

Concurrent with entering into the arrangement agreement, the parties entered into a subscription agreement pursuant to which each of BHP and Lundin Mining will subscribe for 3,484,848 newly issued Filo shares at an issue price of C$33.00 per share, or approximately C$115 million in the aggregate.

For a copy of the full press release announcing the transaction, please see www.filocorp.com/ and Filo Corp.’s profile on www.sedarplus.ca.

Gernandt & Danielsson's team consists of Partner Carl Westerberg, Counsel Erika Olofsson and Senior Associate Marlene Wiklund.