CIA.ASX: Satisfaction of minimum acceptance condition for Rana Gruber

Satisfaction of minimum acceptance condition for Rana Gruber

Stock	Champion Iron Ltd (CIA.ASX)
Release Time	12 Mar 2026, 8:30 a.m.
Price Sensitive	Yes

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Champion Iron Satisfies Minimum Acceptance for Rana Gruber Offer

Key Points

Champion Iron receives acceptances for over 90% of Rana Gruber's shares
Minimum acceptance condition for the voluntary cash offer is satisfied
Champion Iron to proceed with compulsory acquisition of remaining Rana Gruber shares

Full Summary

Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) has announced that it has received acceptances from shareholders of Rana Gruber ASA representing approximately 90.07% of its issued and outstanding share capital and voting rights, subject to customary verifications. Accordingly, the 'Minimum Acceptance' closing condition has been satisfied, and Champion will become the owner of shares representing more than 90% of the shares and voting rights in Rana Gruber. Following completion of the offer and Champion having become the owner of more than 90% of the total issued shares and voting rights in Rana Gruber, the company intends to carry out a compulsory acquisition of the remaining shares of Rana Gruber in accordance with Norwegian laws. The announcement provides further details on the transaction and Champion's operations, including its Bloom Lake Mining Complex and other exploration and development projects in the Labrador Trough.