On August 26, 2022, Hastings Technology Metals Ltd. announced it had entered into a binding share purchase agreement with an affiliate of Oaktree Capital Management, L.P. to acquire 8,974,127 common shares of Neo Performance Materials Inc., representing a 22.1% shareholding, at a price of $15 per share, for an aggregate purchase price of $135 million.
Neo is a global leader in the downstream processing of rare earth elements and the production of advanced materials.
Cassels is acting for Hastings.