May 7, 2019 / 11:36 AM / 2 months ago

BRIEF-Polymet Mining Corp Announces Filing Of Preliminary Prospectus For Rights Offering

May 7 (Reuters) - Polymet Mining Corp:

* POLYMET ANNOUNCES FILING OF PRELIMINARY PROSPECTUS FOR RIGHTS OFFERING AND ENTRY INTO STANDBY PURCHASE AGREEMENT WITH GLENCORE

* POLYMET MINING - ENTERED INTO STANDBY PURCHASE AGREEMENT PURSUANT TO WHICH GLENCORE HAS AGREED TO EXERCISE ITS BASIC SUBSCRIPTION PRIVILEGE IN FULL

* POLYMET MINING - SUBJECT TO SATISFACTION OF TERMS AND CONDITIONS OF STANDBY PURCHASE AGREEMENT, RIGHTS OFFERING WILL BE FULLY BACKSTOPPED BY GLENCORE

* POLYMET MINING CORP - GLENCORE WILL BE ENTITLED TO A FEE AT CLOSING OF RIGHTS OFFERING OF APPROXIMATELY US$7.7 MILLION

* POLYMET MINING - COMPANY INTENDS TO MAKE AVAILABLE PROCEEDS OF RIGHTS OFFERING FOR REPAYMENT OF AMOUNT THAT CO IS INDEBTED TO GLENCORE Source text for Eikon: Further company coverage:

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