Veea Issues Letter to Shareholders
Dear Fellow Shareholders,
On the occasion of Veea ringing the Nasdaq Opening Bell on February 5, I want to welcome our shareholders and share our insights with respect to our vision, strategy, and the opportunities that lie ahead.
Connecting the World at the Edge
I am thrilled to share with you that a monumental shift in technology has occurred, one that now directly aligns with our vision of the future dating back to the founding of the company ten years ago. This transformation is the convergence of Edge Computing, Hyperconverged Networks, and the application of Artificial Intelligence (AI) at the very edge that all things connect to the network, commonly referred to as Edge AI.
We have developed a portfolio of fully integrated, scalable, and turnkey wireless and wired communications and computing devices and services - VeeaHub products, VeeaWare, and VeeaCloud – that deliver cloud-to-edge solutions and allow businesses to manage high volumes of data to enable real-time applications and maintain system reliability. Our solutions have been iterated over the last several years to minimize production costs, reduce installation expenses, and deliver scalability with easy integration to third party solutions, resulting in a lower total cost of ownership compared to typical edge computing solutions.
We possess more than 100 exclusively-owned patents covering 26 patent families, and a significant partner ecosystem. Our products have been deployed to enterprises and SMB/SMEs across several countries, providing real-world solutions across various end markets. We are transforming lives from remote villages in Indonesia, where Veea's mesh network is empowering internet connectivity in health, education, and agriculture, to retailers in Mexico, farms in North America, a campus in Hong Kong, and a 21-acre commercial building complex in Orlando, Florida where our Veea Edge Platform is enabling common indoor and outdoor common area Wi-Fi.
Well Positioned to Support the 5th Industrial Revolution
Significant advances in AI technologies are now driving the 5th Industrial Revolution, fundamentally reshaping how we live, work, and interact. Unlike previous industrial revolutions driven by mechanization, electricity, computing, and automation, the 5th Industrial Revolution is characterized by the seamless integration of AI and human intelligence to enhance decision-making, improve productivity, and drive innovation across every sector. This is not just a technological trend; it is a pivotal force shaping the future of industries, economies, and our organization.
AI inferencing is at the heart of this revolution, driving a new business paradigm that demands a fresh approach to technology infrastructure and service delivery. AI inferencing refers to the process where a trained AI model applies its learned knowledge to analyze new, unseen data and generate predictions or decisions based on the patterns it has identified during training; essentially, it's the 'action' of using an AI model to make sense of 'new information' and draw conclusions from it. For many enterprise and consumer use cases massive amounts of data must be collected and processed at the edge. Among many of its utilities, this is what Veea Edge Platform does most efficiently.
Veea's unique implementation of Edge AI brings the power of AI closer to where data is generated—at the 'edge' of networks. This means faster decision-making, reduced latency, enhanced security, increased reliability, data privacy and sovereignty, and real-time insights without the dependency on centralized cloud infrastructure. Edge Computing complements this by processing data locally, significantly improving efficiency and reducing bandwidth costs.
Edge Computing is not just a supporting technology—it is the core capability that enables AI inferencing to deliver real-time, context-aware insights to both enterprises and consumers alike. By processing data closer to the source, Edge Computing ensures that AI applications are responsive, resilient, and efficient. This shift requires businesses to adopt new operational models, emphasizing agility, scalability, and decentralized intelligence.
AI-as-a-Service (AIaaS)
At Veea, we are at the forefront of this transformation, leveraging Edge Computing to power our AI-as-a-Service (AIaaS) offerings. Traditional business models are no longer sufficient to support the speed, scale, and complexity required by broadly adopted AI-driven applications. Some believe that AI Agents will eventually replace SaaS solutions.
Hyperconverged Networking (HCN) is the backbone that supports this rapid data processing and AI-driven environment. By integrating computing, storage, and networking into a unified system, HCN enhances scalability, simplifies IT infrastructure, and ensures robust data flow between edge devices and core systems. Veea's virtualized software environment, supporting cloud-native applications, together with one of the most advanced HCN implementations, positions us very well to lead in the delivery of highly optimized solutions in this new era, creating unparalleled value for our customers and sustainable growth for our shareholders.
Through the seamless integration of Edge AI, Edge Computing, and Hyperconverged Networking, all supported by Veea's cloud-managed products, we are driving:
- Innovation: Delivering cutting-edge products and services that meet the demands of the widest range of the rapidly evolving digital landscape.
- Operational Efficiency: Reducing costs and improving performance for many industries.
- Growth Opportunities: Expanding into new markets and sectors that are rapidly adopting AI inferencing and edge technologies.
- Shareholder Value: Enhancing our competitive advantage, creating revenue streams, and supporting long-term financial performance.
A Unique Business Model Supported by Technology that Delivers Solutions to Real World Problems
What sets Veea apart in this transformative era is our unique business model as a Managed Service Provider (MSP) that is delivering solutions such i) as 5G fixed wireless access through our VeeaHub edge computing products with AI-driven cybersecurity, and a range of value-added services currently being rolled-out by network operators to SMBs and SME, as one of its highly scalable use cases, and ii) Edge AI inferencing through our innovative AIaaS offering with complete turnkey hardware and software solutions (i.e., full stack). This model allows us to deliver AI-powered applications and insights at scale without requiring the end-users to invest heavily in infrastructure or specialized talent.
Through our AIaaS platform, we provide end-to-end management of AI workloads, from deployment and optimization to continuous monitoring and maintenance. This approach offers several key differentiators:
- Scalability: Clients can easily scale their AI capabilities as their business grows, without the complexities of managing hardware and software.
- Cost Efficiency: By offering AI on a subscription basis, we lower the barriers to entry, making advanced AI accessible to organizations of all sizes.
- Agility: Our managed services enable rapid deployment and iteration, allowing businesses to adapt quickly to changing market demands.
- Expertise: Clients benefit from our deep expertise in AI, edge computing, and hyperconverged networking, ensuring optimal performance and reliability.
AI inferencing supported by Edge AI represents a compelling business model and a significant growth opportunity for several reasons:
- Explosive Market Demand: The global demand for real-time, data-driven decision-making is rising across industries including retail, healthcare, manufacturing, smart buildings, smart cities, and smart farming. Organizations need solutions that process data instantly, making Edge AI inferencing critical.
- Recurring Revenue Streams: The MSP and AIaaS business models enable predictable, recurring revenue through subscription-based offerings. This stabilizes our financial outlook and supports sustainable growth.
- Competitive Advantage: Edge AI allows businesses to differentiate themselves through faster, smarter, and more secure operations. By providing managed AI inferencing services, we help our clients maintain a competitive edge, which in turn strengthens our market position.
- Lower Total Cost of Ownership (TCO): Our managed services reduce the cost and complexity for customers, making it more attractive for businesses to adopt advanced AI without large upfront investments.
- Global Scalability: The decentralized nature of Edge AI allows us to serve clients worldwide, expanding our reach and unlocking new markets without the limitations of traditional centralized data processing.
- Rapid Innovation Cycle: Continuous improvements in AI algorithms, edge devices, and networking technologies create opportunities for us to innovate and offer enhanced services regularly, driving both customer retention and new customer acquisition.
- Portable Software Stack: Our full stack software can run on third-party hardware (i.e., CPU-based or GPU-based servers, Access Points (APs), routers, etc.) with a Linux host that meet our minimum requirements, making our cloud-managed platform hardware agnostic.
In Closing
Our commitment to innovation and excellence, combined with a differentiated business model, not only strengthens our value proposition to customers but also positions us to develop a robust, recurring revenue stream that drives sustainable growth and profitability.
We are committed to investing in these transformative technologies, fostering strategic partnerships, and continuing to lead in innovation. Our goal is to ensure that Veea remains at the forefront of this technological revolution, delivering growth and value to our shareholders.
Thank you for your continued support and trust in our vision. Together, we are shaping the future.
Warm regards,
Allen Salmasi
Founder & Chief Executive Officer
About Veea
Veea Inc. (NASDAQ: VEEA) was formed in 2014 and is headquartered in New York City with a rich history of major innovations in the development of advanced networking, wireless and computing technologies. Veea makes living and working at the edge simpler and more secure. Veea has unified multi-tenant computing, multiaccess multiprotocol communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea's fully integrated turnkey solution offers end-to-end cloud management of devices, applications and services with Zero Trust Network Access (ZTNA), optionally with a highly simplified plug and play 5G-based Secure Access Service Edge (SASE) offering. Veea Edge Platform™ enables direct connections from the wide area optical fiber, cellular and satellite networks to devices on the local area networks created by a VeeaHub® mesh cluster over network-managed Wi-Fi and IoT devices - a unique patented capability called Multiprotocol Private Network Slicing (MPNS) for ISPs to offer subscription-based services for one or a group of endpoints. Veea Developer Portal and development tools provide for rapid development of edge applications including federated learning with pre-trained models for inferencing to cost-effectively enable Edge AI for most enterprise use cases.
Veea was recognized in 2023 by Gartner as a Leading Smart Edge Platform for the innovativeness and capabilities of our Veea Edge Platform™ and a Cool Vendor in Edge Computing in 2021. Veea was named in Market Reports World's in its research report published in October 2023 as one of the top 10 Edge AI solution providers alongside IBM, Microsoft, Amazon Web Services among others. For more information about Veea and its product offerings, visit veea.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ('Securities Act') as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'would,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'project,' 'estimate,' 'anticipate,' 'strategy,' 'future,' 'likely' or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's business strategies, and the risk and uncertainties described in 'Risk Factors,' 'Management's Discussion and Analysis of Financial Condition and Results of Operations,' 'Cautionary Note on Forward-Looking Statements' and the additional risk described in Veea's Form 10-Q for the fiscal quarter ended September 30, 2024 and any subsequent filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
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First Quantum Minerals Announces Pricing and Upsizing of Senior Notes Offering
(In United States dollars, except where noted otherwise) TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) announces that it has successfully completed the pricing of its offering (the 'Offering') of $1.0 billion aggregate principal amount of 7.250% senior notes due 2034 (the 'Notes'). The original offering amount of the Notes of $750 million has been increased to $1.0 billion. The issue price of the Notes is 100.000%. Interest on the Notes will accrue from the issue date at a rate of 7.250% per annum and will be payable semi-annually. Settlement is expected to take place on or about August 20, 2025, subject to customary conditions precedent for similar transactions. The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company's subsidiaries. The Company intends to apply the gross proceeds from the sale of the Notes, together with cash on balance sheet, to fund the tender offer for its existing 6.875% senior notes due 2027, to refinance a portion of its existing 9.375% senior secured second lien notes due 2029 and to pay related fees, costs and expenses. For further information, visit our website at or contact: Investor Relations: Bonita To, Director, Investor Relations(416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ Media Relations:James Devas, Manager, Corporate Affairs+44 207 291 6630E-Mail: IMPORTANT DISCLAIMER The information in this announcement does not constitute a notice of redemption or the solicitation to purchase any securities of the Company, or an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered or are exempt from the registration of the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'). The Notes will not be registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions. The Company does not intend to conduct a public offering in the United States or any other jurisdiction. It may be unlawful to distribute this announcement in certain jurisdictions. The information in this announcement does not constitute an offer, or a solicitation of an offer, of securities for sale in the United States, Canada, the EEA, the UK, Switzerland, Panama, Hong Kong, Japan, Singapore, or any other jurisdiction in which such an offer, solicitation or sale is not permitted. In member states of the EEA, this announcement and any offer of the securities referred to herein in any Member State of the European Economic Area ('EEA') will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the securities referred to herein. Accordingly, any person making or intending to make an offer in a Member State of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the company or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the Prospectus Regulation, in each case, in relation to such offer. Neither the company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the company or the initial purchasers to publish a prospectus for such offer. The expression 'Prospectus Regulation' means Regulation (EU) 2017/1129. The securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, 'MiFID II') or (ii) a customer within the meaning of Directive 2016/97/EU (as amended), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the 'PRIIPs Regulation') for offering or selling the securities or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation. The securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom ('UK'). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ('EUWA'); or (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (as amended, the 'UK PRIIPs Regulation') for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation. In the UK, this announcement and any offer of the securities referred to herein in the UK will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the securities referred to herein. Accordingly, any person making or intending to make an offer in the UK of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the company or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the UK Prospectus Regulation, in each case, in relation to such offer. Neither the company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the company or the initial purchasers to publish a prospectus for such offer. The expression 'UK Prospectus Regulation' means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Neither the content of the company's website nor any website accessible by hyperlinks on the company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement is an advertisement and is not a prospectus for the purposes of the Prospectus Regulation or the UK Prospectus Regulation. This communication is only directed at (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the 'Order'), or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it would otherwise be lawful to distribute to or direct at, all such persons together being referred to as 'relevant persons'. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents. This announcement is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities referred to herein in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon this announcement or the merits of the securities referred to herein, and any representation to the contrary is an offence. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities legislation. The forward-looking statements and forward-looking information in this news release include, among other things, the timing of the closing of the Offering and the expected uses of proceeds of the Offering. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including, among other things, assumptions about the ability to price the Notes on terms that are acceptable to the Company, the timing of the closing of the Offering and the ability to achieve the Company's goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, events generally impacting global economic, financial, political and social stability. See the Company's Annual Information Form and other documents filed with the securities regulators or similar authorities in Canada (accessible under the Company's profile on SEDAR+ at for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum's control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information contained herein are expressly qualified by this cautionary in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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First Quantum Minerals Announces Extension of the Expiration Date, Guaranteed Delivery Date and Settlement Date of Cash Tender Offer to Purchase Any and All of Its Outstanding 6.875% Senior Notes Due 2027
(In United States dollars, except where noted otherwise) TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM), in connection with the offer to purchase for cash (the 'Tender Offer') any and all of its outstanding 6.875% Senior Notes due 2027 (the 'Notes') from holders of the Notes ('Holders'), as further described in the offer to purchase (the 'Offer to Purchase') and the related Notice of Guaranteed Delivery, each dated August 6, 2025, and as previously announced on August 6, 2025, hereby announces that, following the upsizing and pricing of the New Notes (as announced separately by the Company on the date hereof), the Company is extending (i) the Price Determination Date from 2:00 p.m., New York City time, on August 12, 2025 to 2:00 p.m., New York City time, on August 18, 2025, (ii) the Expiration Date from 5:00 p.m., New York City time, on August 12, 2025 to 5:00 p.m., New York City time, on August 18, 2025, (iii) the Guaranteed Delivery Date from 5:00 p.m., New York City time, on August 14, 2025 to 5:00 p.m., New York City time, on August 20, 2025 and (iv) the expected Settlement Date from August 15, 2025 to August 21, 2025. The consideration for each $1,000 principal amount of Notes tendered prior to the Expiration Date (as extended pursuant to this announcement) and accepted for purchase pursuant to the Tender Offer shall be the 'Notes Consideration' and will be calculated by the Dealer Managers (as defined below) as set forth in the table below in a manner described in the Offer to Purchase by reference to the fixed spread (the 'Fixed Spread') specified below plus the yield (the 'Reference Yield') based on the bid-side price of the U.S. Treasury Reference Security specified below (the 'Reference Security') as quoted on the Bloomberg Bond Trader FIT3 series of pages (the 'Reference Page') at 2:00 p.m., New York City time, on the Price Determination Date (as extended pursuant to this announcement). In addition, Holders who validly tender and do not validly withdraw their Notes in the Tender Offer will be paid a cash amount equal to accrued and unpaid interest from the last interest payment date up to, but not including, the Settlement Date (as extended pursuant to this announcement). For the avoidance of doubt, any Notes accepted for purchase pursuant to the Offer will cease to accrue interest on and after the Settlement Date. Tendered Notes may be withdrawn at any time at or prior to the Expiration Date and no tenders will be valid if submitted after the Expiration Date. Upon completion of the Tender Offer, the Notes accepted for purchase will be canceled. Notes CUSIP Number(1) ISIN(1) Principal Amount Outstanding Authorized Denomination U.S. Treasury Reference Security Bloomberg Reference Page Fixed Spread (basis points) 6.875% Senior Notes due 2027 Reg S: C3535C AM0144A: 335934 AT2 Reg S: USC3535CAM04144A: US335934AT24 $750,000,000 $200,000 and integral multiples of $1,000 in excess thereof 4.250% UST due October 15, 2025US91282C FP14 FIT3 0 (1) CUSIP/ISIN information is provided for the convenience of Holders of the Notes. No representation is made as to the correctness or accuracy of such numbers. Notes may be tendered and accepted for payment only in principal amounts equal to authorized denominations described above. Holders who tender less than all of their Notes must continue to hold such Notes in the applicable minimum authorized denomination. The purpose of the Tender Offer is to acquire any and all of the aggregate principal amount of the outstanding Notes as part of a refinancing transaction (the 'Refinancing') pursuant to which the Company expects to issue, on or prior to the Settlement Date (the 'New Notes Issuance') new senior notes (the 'New Notes') on terms and conditions reasonably satisfactory to the Company. The proceeds of the New Notes are expected be used, among other things, to purchase Notes pursuant to the Tender Offer and redeem Notes not tendered in the Tender Offer pursuant to the Redemption (as defined below). There can be no assurance that the Company will be able to complete the New Notes Issuance and satisfy the Financing Conditions (as defined below). Subject to the satisfaction of the Financing Conditions, the Company intends to redeem any Notes that are not validly tendered and accepted for purchase in the Tender Offer on or after October 15, 2025 in accordance with the terms of the indenture (the 'Indenture') governing the Notes (the 'Redemption') at the then applicable redemption price of 100.000%, plus accrued and unpaid interest to (but not including) the applicable date of redemption. However, the Company cannot assure you that such remaining Notes will be so redeemed. The Company, in its sole discretion, may also deposit amounts required to fund the Redemption into an account designated by the Trustee, in accordance with the satisfaction and discharge provisions of the Indenture on or after the Settlement Date. For the avoidance of doubt, this announcement does not constitute a notice of redemption. In the event that the Company does not consummate the Redemption or satisfaction and discharge of the Indenture, it may otherwise acquire any Notes that remain outstanding after the Expiration Date, through open market or privately negotiated transactions, one or more additional tender offers, or otherwise, upon such terms and at such prices as the Company may determine, which may be more or less than the prices to be paid pursuant to the Tender Offer or in a redemption pursuant to the terms of the Indenture. In addition, pursuant to the terms of the Indenture, in connection with certain tender offers for the Notes, if holders of not less than 90% in aggregate principal amount of outstanding Notes validly tender and do not validly withdraw such Notes in such tender offer and the Company purchases all of the Notes validly tendered and not validly withdrawn by such holders, all of the holders will be deemed to have consented to such tender offer, and, accordingly, the Company will have the right to redeem all Notes that remain outstanding following such purchase at a price equal to the price offered to each other holder in such tender offer. The consummation of the Tender Offer and the Company's obligation to accept for purchase, and to pay for, Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer are subject to the satisfaction of or waiver of the following conditions: (a) the successful completion by the Company of the New Notes Issuance, the proceeds of which will be sufficient to fund (i) the purchase of all outstanding Notes in the Tender Offer, and (ii) the Redemption, all on terms and conditions acceptable to the Company in its sole discretion (the 'Financing Conditions'); and (b) satisfaction of the other conditions set forth in the Offer to Purchase. The Company reserves the right to amend or waive any of the conditions of the Tender Offer, in whole or in part, at any time or from time to time, in its sole discretion. Subject to applicable laws, the Company reserves the right (i) to waive or modify in whole or in part any and all conditions to the Tender Offer, (ii) to further extend the Expiration Date with respect to the Tender Offer, (iii) to modify or terminate the Tender Offer, (iv) to decrease the principal amount of the relevant Notes subject to the Tender Offer, or (v) to otherwise amend the Tender Offer in any respect. Capitalized terms used in this announcement but not otherwise defined shall have the meanings given to them in the Offer to Purchase. Full details of the terms and conditions of the Tender Offer are included in the Company's Offer to Purchase. Copies of documents relating to the Tender Offer may be obtained from Kroll Issuer Services Limited, the Tender and Information Agent, at by telephone at +44 20 7704 0880 or by e-mail at fqml@ The Company has engaged J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp. and Société Générale to serve as dealer managers for the Tender Offer (the 'Dealer Managers'). Questions regarding the Tender Offer should be directed to Dealer Managers using the following contact information, as applicable: J.P. Morgan Securities LLC by telephone at +1 (866) 834-4666 (U.S. Toll Free) or +1 (212) 834-7489 (U.S. Collect); Goldman Sachs & Co. LLC by telephone at: +1 (212) 357-1452 (U.S. Collect), +1 (800) 828-3182 (Toll Free) or +44 207 774 4836 (Europe); BMO Capital Markets Corp. by telephone at: +1 (833) 418-0762 (U.S. Toll Free) or +1 (212) 702-1840 (U.S. Collect); and Société Générale by telephone at: +33 (0) 1 42 13 32 4 or +1 (855) 881-2108 (U.S. Toll Free). For further information, visit our website at or contact: Investor Relations: Bonita To, Director, Investor Relations(416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ Media Relations:James Devas, Manager, Corporate Affairs+44 207 291 6630E-Mail: DISCLAIMER None of the Company, the Dealer Managers or the Tender and Information agent makes any recommendation as to whether or not Holders should tender their Notes or deliver consents or how much they should tender in connection with the Tender Offer, and no one has been authorized by any of them to make such recommendations. Holders are urged to evaluate carefully all information contained in the Offer to Purchase and consult their own investment and tax advisors. Holders must make their own decisions as to whether to tender their Notes and deliver consents, and, if so, the principal amount of Notes to tender. The distribution of the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession the Offer to Purchase comes are required by the Company, the Dealer Managers and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions. It may be unlawful to distribute this press release in certain jurisdictions. The information in this press release does not constitute a notice of redemption, a solicitation to purchase or sell, an offer to purchase or sell or the solicitation of an offer to purchase or sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Tender Offer is made solely pursuant to the Offer to Purchase. The New Notes will not be registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions. The Company does not intend to conduct a public offering in the United States or any other jurisdiction. This press release must be read in conjunction with the Offer to Purchase. This press release and the Offer to Purchase contain important information which should be read carefully before any decision is made with respect to the Tender Offer. If any Holder is in any doubt as to the action it should take, it is recommended that such Holder seek its own financial and legal advice, including as to any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender Notes in the Tender Offer. Any deadlines set by any intermediary will be earlier than the deadlines specified in the Offer to Purchase. The deadlines set by DTC may also be earlier than the relevant deadlines set out in the Offer to Purchase. Questions, requests for assistance and requests for additional copies of the Offer to Purchase may be directed to the Tender and Information Agent or the Dealer Managers at their addresses set forth in this press release. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained in this news release constitutes 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities legislation. The forward-looking statements and forward-looking information in this news release include, among other things, the anticipated cash expenditure to consummate the Tender Offer, as well as the consummation, timing, settlement, size and terms of the Tender Offer, including the Notes Consideration, the Price Determination Date, the Expiration Date, the Guaranteed Delivery Date and the Settlement Date. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled:, 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including, among other things, assumptions about the ability to price the New Notes on terms that are acceptable to the Company, the timing of the closing of the concurrent offering of New Notes, the satisfaction of the conditions set forth in the Offer to Purchase and the ability to achieve the Company's goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, events generally impacting global economic, financial, political and social stability. See the Company's Annual Information Form and other documents filed with the securities regulators or similar authorities in Canada (accessible under the Company's profile on SEDAR+ at the United States Securities and Exchange Commission and the London Stock Exchange for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum's control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information contained herein are expressly qualified by this cautionary in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
