SUPPORT AGREEMENTSupport Agreement • April 18th, 2006 • First Quantum Minerals LTD • Metal mining • Ontario
FIRST QUANTUM MINERALS LTD., a corporation existing under the laws of the Province of British Columbia, (hereinafter called the “Offeror”),
April 11, 2006 First Quantum Minerals Ltd. 8th Floor, 543 Granville Street Vancouver, BC V6C 1X8 Attention: Philip K.R. Pascall Dear Sir:Support Agreement • April 18th, 2006 • First Quantum Minerals LTD • Metal mining
This letter will confirm that I have been advised that, subject to my delivering this letter, First Quantum Minerals Ltd. (the “Offeror”) has agreed to enter into a support agreement (the “Support Agreement”) with Adastra Minerals Inc. (the “Company”), providing, among other things, for the terms upon which the Offeror will amend its take-over bid for all of the issued and outstanding common shares (the “Common Shares”) of the Company in order to increase the consideration offered to, at the election of each holder of Common Shares: (a) Cdn.$2.92 in cash per Common Share; or (b) one common share of the Offeror and Cdn.$0.265 in cash for every 14.76 Common Shares, subject in each case to pro ration (as amended from time to time in accordance with the terms of the Support Agreement, the “Offer”).
