MONTRÉAL, March 11, 2026 /CNW/ - / SYDNEY, March 12, 2026 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is pleased to provide an update regarding its previously announced conditional recommended voluntary cash offer to acquire all issued and outstanding shares of Rana Gruber at a price of NOK 79 per share (the "Offer"). Champion has received acceptances from shareholders of Rana Gruber ASA ("Rana Gruber") representing approximately 90.07% of its issued and outstanding share capital and voting rights, subject to customary verifications of acceptances received. Accordingly, and subject to said customary verifications, the "Minimum Acceptance" closing condition has been satisfied, whereas the Offer was accepted to such extent that Champion, subject to and upon completion of the Offer, becomes the owner of shares representing more than 90% of the shares and voting rights in Rana Gruber. Completion of the Offer remains subject to other closing conditions continuing to be satisfied until settlement of the Offer or being waived by the Company in its sole discretion.
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SATISFACTION OF MINIMUM SHAREHOLDER ACCEPTANCE CONDITION OF RECOMMENDED VOLUNTARY CASH OFFER FOR RANA GRUBER
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