Noranda Income Fund committee urges unitholders to vote for arrangement

Noranda Income Fund filed its management information circular for the special meeting of unitholders scheduled for February 28, 2023. At the Meeting, unitholders will be asked to consider voting for an arrangement agreement between the Fund and Glencore Canada Corporation as a result of which Glencore will acquire all issued and outstanding priority units of the Fund for C$1.42 per unit. Voting FOR the Arrangement will ensure that holders of Priority Units receive an all-cash premium for their Priority Units. The Fund said, "The choice before the Independent Committee was clear, to proceed with the relative certainty of an all-cash privatization and ensure that Priority Unitholders could realize value for their Priority Units or contemplate an uncertain alternative path for the Fund, with limited options, none of which are certain to succeed. Therefore, the Independent Committee determined that the Arrangement was in the best interests of the Fund and fair to Priority Unitholders and unanimously recommends that Priority Unitholders vote FOR the Arrangement. The Board of Trustees also unanimously recommends that Priority Unitholders vote FOR the special resolution approving the Arrangement."