Examples of WISCO ADI in a sentence
WISCO ADI completed its initial $20 million investment into Labec Century on September 26, 2012 and became the owner of 40% of the outstanding voting non-equity shares of Labec Century and 25% of the non-voting common shares of Labec Century.
On November 19, 2020, the Group completed the Acquisition and acquired from WISCO ADI its 40% joint venture interest in WISCO Century Sunny Lake and its 18.9% interest in the Sunny Lake properties.
WISCO ADI has a right to purchase u p to 60% of commercial products at market value or on standard commercial terms.
As at March 31, 2016, the Company owns 81.1% of the Sunny Lake property and the remaining funding obligation of WISCO ADI to earn in up to a 40% of interest in the property is $21.1 million.
WISCO ADI will continue to own its approximate 23.5% equity interest in the Company which will not be impacted by the completion of the transaction.
The ownership and management of Labec Century is governed by a shareholders’ agreement dated December 19, 2011 among the Company, Century Holdings, WISCO and WISCO ADI, (formerly “WISCO Attikamagen” in “Attikamagen Shareholders Agreement”).
On November 19, 2020, the Group completed the Acquisition and acquired from WISCO ADI its 40% joint venture interest in Labec Century.
On November 2, 2020, the Company announced that it had made a binding offer to WISCO ADI to purchase WISCO ADI’s joint venture interests in the Attikamagen and Sunny Lake iron ore projects in exchange for net cash consideration of $1.17 million.
The Group’s joint venture agreement on the Attikamagen properties with WISCO ADI was also terminated.
On November 19, 2020, the Group completed the Acquisition and acquired from WISCO ADI its 40% joint venture interests in Labec Century and the Attikamagen properties.