Մոնտե Դո Կարմո ձեռք բերելու տարբերակի վարժություն

             _____________________________________________________________________________________

30 Հոկտեմբեր 2024

Exercise of Option to Acquire Monte Do Carmo Project

Further to its announcement on 5 March 2024, Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce that its wholly-owned subsidiary, Amarillo Mineração do Brasil Ltda. ("Amarillo Mineração") has, pursuant to an option agreement entered into on 5 March 2024 (the "Option Agreement"), exercised its option (the "Option") to acquire a 100% interest in the Monte Do Carmo Project (the "Project") from Cerrado Gold Inc. ("Cerrado") (TSXV:CERT)(OTCPK:CRDO.F) (the "Transaction"). The Project is located in the mining-friendly state of Tocantins, Brazil.

In consideration of exercising the Option, Amarillo Mineração will make further cash payments to Cerrado totaling US$30 million in aggregate (the "Exercise Consideration") prior to the date of the closing of the Transaction (the "Closing"). The Exercise Consideration is in addition to the US$15 million which has been deemed paid in respect of the Transaction, and a further US$15 million payable at certain milestones following Closing, giving a total consideration of US$60 million in respect of the Transaction. Further information on the consideration paid and payable by Amarillo Mineração in respect of the Transaction is set out under the heading "Transaction Details" below.

The Transaction constitutes a significant transaction under the UK Listing Rules due to the level of the Project's Proven and Probable Reserves relative to those of Hochschild. Given the Option was exercisable at the sole discretion of Hochschild, Hochschild's entry into the Option Agreement was not a classified transaction, but the exercise of the Option constitutes a significant transaction under the new UK Listing Rules.

On 27 June 2024, Cerrado announced that its shareholders had approved the Transaction. Closing of the Transaction will be subject to a number of conditions, including: (i) the payment by Amarillo Mineração of the Exercise Consideration prior to Closing, (ii) the approval of the TSX Venture Exchange, and (iii) satisfaction of other closing conditions customary in a transaction of this nature. Closing is expected to take place on 5 November 2024 subject to satisfaction of the aforementioned conditions. A separate announcement will be made once the Closing has taken place.

Hochschild-ի գլխավոր գործադիր տնօրեն Էդուարդո Լանդինը մեկնաբանել է.

"Following the successful commissioning and ramp-up of Mara Rosa, I am delighted that we have been able to move the Monte do Carmo project, in the neighbouring state of Tocantins, from option status to a fully integrated part of our project pipeline. We have conducted an extensive exploration and twin drilling programme which has returned encouraging results giving us confidence in our ability of defining a compelling project. We believe that we have the right team in place to deliver an exciting opportunity for all stakeholders."

Information on Monte do Carmo Project

Ծրագիրը, որը ներառում է 21 օգտակար հանածոների կոնցեսիաներ, որոնք ընդգրկում են 82,542 հեկտար, հյուրընկալում է բազմաթիվ հայտնաբերված ոսկու թիրախներ 30 կմ հանքայնացված տենդենցի երկայնքով, ներառյալ հիմնական Serra Alta ոսկու հանքավայրը, որը պարունակում է 1,012 կոզ ոսկու չափված և ցուցված պաշար և 66 կիլոմետրանոց ոսկու պաշար: հոկտեմբերի 31-ի տեխնիկատնտեսական հիմնավորումների ուսումնասիրության առարկան 2023. Ծրագիրն օգտվում է տեղանքի զգալի առկա ենթակառուցվածքից, ներառյալ ամբողջ տարվա մուտքը ասֆալտապատ մայրուղու միջոցով և Իսամու Իկեդա հիդրոէլեկտրակայանի մոտակայքում: Թույլտվությունը զգալիորեն առաջադիմել է, Շրջակա միջավայրի վրա ազդեցության գնահատումը հաստատվել է և նախնական լիցենզիան տրամադրվել է Tocantins պետական ​​բնապահպանական գործակալության կողմից 2023 թվականի մայիսին:

Since the Option Agreement was entered into in March 2024, the Company has executed a 1,704m twin hole drilling programme which has validated the deposit's mineral resource estimate. In addition, the Company has conducted a 4,806m resource drilling campaign across five prospective mineralisation zones. The campaign has already incorporated additional gold resources which  confirm the strong geological potential of the Project.

The Company has also devised an exploration plan across seven new targets that will commence in November 2024. Furthermore, it is currently anticipated that, with the twin hole exploration results, further upside from additional drilling and several engineering optimisations already identified, the Company will be in a strong position to reach an eventual construction decision.

Following completion of the Transaction, the Company's programme at the Project is expected to include:

·      Ongoing drilling programs to expand the resource base

·      Advance installation license for the main project

·      Conduct any additional environmental analyses as identified during due diligence

·      Develop the detailed engineering studies

Գործարքի նախապատմությունը և պատճառները

The Transaction is a result of Hochschild's aim to advance its overall corporate strategy of becoming a leading Americas-focused precious metals producer with top-tier operations located in mining-friendly jurisdictions. The Company believes that the Transaction is a compelling strategic opportunity to enhance Hochschild's project pipeline and growth profile through the addition of a high-quality, long-life Project. The Transaction is expected to deliver a number of key benefits to Hochschild, shareholders and other stakeholders, including:

·      High quality project: Adds a low-cost, long-life asset located in a mining-friendly jurisdiction of Brazil, within close proximity to the Mara Rosa mine

·      Significant exploration upside: Offers compelling near-mine exploration opportunities underpinned by a large land package which remains relatively underexplored

·      De-risked permitting: Project permitting significantly advanced with the Installation License expected to be obtained in the near future

·      Leverages Hochschild's expertise and presence in Brazil: Aligned with Hochschild's core strengths and long-term strategy of acquiring and optimising development stage projects in Latin America, specifically in Brazil, a country where the Company has robust management and technical teams

·      Enhances Hochschild's portfolio: Provides the next leg of growth for Hochschild following the recent completion of the Mara Rosa mine

Financial effects of the Transaction

The consideration in respect of the Transaction will be funded from existing resources. It is expected that by year-end, there will be no increase in Hochschild's net debt as a result of the Transaction (which, as of 30 September 2024, was US$226.7 million).

Hochschild has provided a guarantee of the obligations of Amarillo Mineração under the Transaction Agreements (as defined below).

As at 30 June 2024, the Project had gross assets of US$49 million and generated a loss of US$167k in the period between January and June 2024.

Given the Project is currently in pre-development stage, Hochschild is not expecting any immediate incremental revenues to be generated by the Project following the Transaction.

Գործարքի մանրամասները

The principal terms of the key agreements in respect of the Transaction (the "Transaction Agreements") are summarised below.

On 4 March 2024, in connection with the Transaction, Amarillo Mineração entered into (i) the Option Agreement granting Amarillo Mineração the option to purchase 100% of the outstanding equity interests (quotas) in Serra Alta Mineração Ltda. ("SAML"), Cerrado's subsidiary in Brazil which holds the Project, and (ii) an agreement to advance US$15 million to Cerrado by way of 10% interest-bearing secured loan (the "Signing Loan"). The Option Agreement entitled Amarillo Mineração to exercise the Option at its sole discretion at any time prior to 19 March 2025, and requires Amarillo Mineração to incur a minimum of US$5 million in exploration expenditures at the Project (the "Qualifying Expenditures") during such period. While the Company expects that Amarillo Mineração will incur the remaining minimal outstanding amount of the Qualifying Expenditures by the Closing, it intends to seek a waiver of the condition from Cerrado..

On 27 July 2024, upon obtaining the requisite approval of the shareholders of Cerrado in respect of the Transaction, the Signing Loan, together with all accrued and unpaid interest thereon and expenses relating thereto, were deemed to be repaid in full by Cerrado by the concurrent set off of an amount of consideration equal to the Signing Loan, which was payable by Amarillo Mineração to Cerrado pursuant to the Option Agreement (the "Set-Off Consideration", and together with the Exercise Consideration, the "Consideration").

In addition to the Set-Off Consideration, Amarillo Mineração shall be required to pay to Cerrado the Exercise Consideration of US$30m prior to Closing, comprising the following payments (the "Closing Consideration"):

·      US$10 million payable following exercise of the Option; and

·      US$20 million payable by Closing.

Following Closing, Amarillo Mineração shall be required to make further payments to Cerrado totaling US$15 million in aggregate as follows:

·      US$10 million payable within 14 days of the second anniversary of the date of the Cerrado shareholder approval (being 27 July 2026); and

·      5 միլիոն ԱՄՆ դոլար 14 օրվա ընթացքում՝ (i) Ծրագրի առևտրային արտադրությունը սկսելուց հետո, և (ii) 31 թվականի մարտի 2027-ից։

All amounts owing by Cerrado to, or advanced to Cerrado by, the Company or Amarillo Mineração, are secured by (i) a first lien on all of the outstanding equity interests (quotas) in SAML, and (ii) a second lien on the assets relating to the Project (the "Security"), until the Closing. The Security is subject to a security sharing agreement with another secured creditor.

Prior to the Closing, either Amarillo Mineração or Cerrado may terminate the Option Agreement upon material breach by the other party which has not been cured within 30 days, or if the conditions to Closing in favour of such terminating party have not been waived or satisfied or it is reasonably apparent such conditions will not be satisfied by the date that is 60 days from the date of the exercise of the Option (other than as a result of the failure of the terminating party to perform its material obligations). Upon termination by Cerrado for material breach or non-satisfaction of conditions to Closing in favour of Cerrado, Amarillo Mineração shall be required to pay to Cerrado any shortfall between the Qualifying Expenditures actually incurred to such date of termination and the US$5 million Qualifying Expenditure requirement under the Option Agreement. Upon termination by Amarillo Mineração for material breach by Cerrado, Cerrado shall pay to Amarillo Mineração an amount equal to the Consideration paid to such date of termination, all Qualifying Expenditures incurred by Amarillo Mineração or Hochschild to such date of termination, and all other amounts owing by Cerrado to Amarillo Mineração or Hochschild, together with interest accrued thereon. Upon termination by Amarillo Mineração for the non-satisfaction of conditions to Closing in favour of Amarillo Mineração, Cerrado shall pay to Amarillo Mineração all amounts owing by Cerrado to Amarillo Mineração or Hochschild, other than (i) the Set-Off Consideration and (ii) any Qualifying Expenditures incurred by Amarillo Mineração or Hochschild in excess of US$5 million.

Closing will be subject to a number of conditions, including: (i) the payment by Amarillo Mineração of the Exercise Consideration prior to Closing, (ii) the approval of the TSX Venture Exchange, and (iii) satisfaction of other closing conditions customary in a transaction of this nature. Closing is expected to take place by 5 November 2024, subject to satisfaction of the aforementioned conditions.

լրացուցիչ տեղեկություն

Your attention is drawn to the further information contained in Appendix I (Risk Factors) and Appendix II (Additional Information) of this document.  The whole of this announcement should be read and not solely the information summarised in the front end of this announcement.

Խորհրդի հայտարարություն

The board of directors of the Company (the "Board") unanimously considers the Transaction to be in the best interests of the shareholders of the Company (the "Shareholders") as a whole.

Խորհրդականներ և խորհրդատուներ

Hochschild-ին և Amarillo Mineração-ին խորհուրդ է տրվում RBC Capital Markets-ը՝ որպես ֆինանսական խորհրդատու, Stikeman Elliott LLP-ը՝ որպես Կանադայի իրավախորհրդատու, Բիչարա Ադվոգադոսը՝ որպես բրազիլացի իրավախորհրդատու, և Linklaters LLP-ը՝ որպես Մեծ Բրիտանիայի իրավախորհրդատու՝ գործարքի հետ կապված:

________________________________________________________________________________________

Հարցումներ.

Hochschild Mining PLC

Charlie Gordon                                                                                                                             +44 (0)20 3709 3260

Ներդրողների հետ կապերի ղեկավար

Հադսոն Սենդլեր

Charlie Jack                                                                                                                                   +44 (0)207 796 4133

Հասարակայնության հետ կապերի

________________________________________________________________________________________

RBC կապիտալի շուկաներ                                                                                                                  + 44 (0) 207 653 4000

Ֆինանսական խորհրդատու

Ջեյմս Էգնյու

Հյու Սամսոն

________________________________________________________________________________________

Hochschild Mining PLC- ի մասին

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and operates two underground epithermal vein mines: Inmaculada, located in southern Peru; and San Jose in southern Argentina, and an open pit gold mine, Mara Rosa, located in the state of Goiás, Brazil.  Hochschild also has numerous long-term projects throughout the Americas.

_____________________________________________________________________________________

ՀԱՎԵԼՎԱԾ I

Ռիսկի գործոններ

Below is a summary of the risk factors to the Company in relation to the Transaction which the Company considers to be material. If any of the following risks were to materialise, the business, financial condition, results of operations and prospects of the Company or any of its subsidiary undertakings (the "Hochschild Group") following Closing (the "Enlarged Group") could be materially adversely affected and the value of the ordinary shares in the Company could decline and Shareholders could lose all or part of their investment in those ordinary shares.

This should not be regarded as a complete and comprehensive statement of all potential risks and uncertainties which may affect the Company or the ordinary shares in the Company. Additional risks and uncertainties, which are currently unknown to the Company or that the Company does not currently consider to be material, may adversely affect the business of the Hochschild Group and/or the Enlarged Group and could have a material adverse effect on the business, financial condition, results of operations and future prospects of the Hochschild Group and/or the Enlarged Group. Further information on the material risks which generally affect the Company are set out in the Company's 2023 Annual Report.

1.               Material risk related to the Transaction

1.1.          The Transaction is subject to the satisfaction or waiver (where capable of being waived) of a number of conditions and there can be no assurance that the Transaction will proceed if the conditions are not satisfied or waived

Completion under the Transaction Agreements is subject to, and can only occur upon satisfaction or waiver (where capable of being waived) of, a number of conditions, including the payment by Amarillo Mineração of the Closing Consideration and the approval of the TSX Venture Exchange.

Although Amarillo Mineração and Cerrado have certain obligations in relation to the satisfaction of the remaining conditions to the Transaction under the Transaction Agreements, these remaining conditions may not be fulfilled or waived (where capable of being waived) and the Transaction may therefore not be completed. Should this occur, it may result in an adverse impact on Hochschild's reputation.

2.               Material risks related to the Enlarged Group if the Transaction completes

2.1.            Pre-production stage of development

The exploration for, and development of, mineral deposits involve significant financial, operational and geological risks which even a combination of careful evaluation, experience and knowledge may not eliminate. At present, the Project does not have any mineral production. If the Transaction completes, the Enlarged Group will initially focus on finalising the permitting required, building the Project on schedule and on budget and preparing for initial production. However, there can be no assurance of the commercial viability of the Project or that the Project will be brought into production or that the Project will ever be profitable.

Given the early-stage nature of the Project, there are other related risk factors which could result in a material adverse effect on the Enlarged Group's business, including:

·        that the Project may not perform in line with the Company's expectations and there can be no assurance that the Transaction will achieve the financial benefits that Hochschild anticipates as quickly or to the extent anticipated or at all;

·        challenges may be experienced by the Enlarged Group in integrating the Project which could result in higher than expected costs;

·        the value of the Project may be less than the Consideration paid; and

·        the Transaction costs may be higher than anticipated by Hochschild.

2.2.          The level of the Project's resources and reserves and their quality, production volumes and expected cash flows are inherently uncertain and may be lower than estimated or expected

There are numerous uncertainties inherent in estimating Mineral Resources and Mineral Reserves and such estimation is a subjective process. The resources and reserves information published in respect of the Project are estimates only, and do not reflect events and activities subsequent to the date of the announcement. In general, estimates of resources and reserves and the future revenues derivable therefrom are inherently uncertain, as they are based on a number of factors and assumptions made as of the date on which the resources and reserves estimates were determined which may vary considerably from actual results.

The Mineral Resources and Mineral Reserves information referred to in this document may not reflect actual resources and reserves or be comparable to similar information reported by other companies.

2.3.            If the Transaction completes, the Enlarged Group will have greater exposure to the political, legal and regulatory risks of operating in Brazil

Hochschild has established operations in Peru and Argentina, and has recently started production from its first mine in Brazil, Mara Rosa which is located in the state of Goiás. Following Closing, Hochschild's exposure to Brazil will increase. As such, the Enlarged Group will have increased exposure to the political, legal, tax and regulatory landscape in Brazil, which is subject to change in a manner that may be materially adverse to the Enlarged Group. Such changes could involve changes to (a) legislation relating to safety, health, the environment and social matters and (b) state and local regulations relating to the production and sale of metals.

2.4.           There can be no assurance that the Enlarged Group will receive, be able to locate and/or be able to renew all necessary licences, certificates, approvals and permits for operations

The operations of the Enlarged Group, including the Project, are subject to various licences, certificates, approvals and permits. There is no assurance that the Enlarged Group will be able to renew its licences, certificates, approvals and permits upon their expiration. There is also no assurance that the Enlarged Group will receive necessary licences, certificates, approvals and permits which are required and have not yet been granted. In particular, it is noted that the Project has not yet received all the licences required to build the Project nor the operating licence, the final licence which it requires under the local permitting framework.

2.5.          There can be no assurance that the Enlarged Group will be able to secure financing to bring the Project into production, or generally to execute its growth strategy

The Hochschild Group's access to further financing as a source of funding for the Project and other projects is subject to various factors, many of which are outside of its control, such as political instability, an economic downturn or social unrest, which could result in an increase in the cost of borrowing of the Hochschild Group or restrict its ability to obtain financing.

There is no assurance that the Hochschild Group will be able to arrange financing on acceptable terms, if at all. The Hochschild Group's operations are highly capital intensive. If the Hochschild Group were unable to obtain financing from banks and other financial institutions or from capital markets this would adversely affect the ability of the Hochschild Group to bring the Project into production and, more generally, would affect its ability to execute its expansion and growth strategies as well as its financial condition and prospects. 

ՀԱՎԵԼՎԱԾ II
ԼՐԱՑՈՒՑԻՉ ՏԵՂԵԿՈՒԹՅՈՒՆՆԵՐ

1.               Նյութական պայմանագրեր

1.1.            Hochschild Group

Other than the Transaction Agreements (as summarized above), no contracts (not being contracts entered into in the ordinary course of business) have been entered into by members of the Hochschild Group: (i) within the two years immediately preceding the date of this announcement which are or may be material; or (ii) which contain any provision under which the Hochschild Group has any obligation or entitlement which is material to the Hochschild Group as at the date of this announcement, in each case the details of which the Board considers that Shareholders reasonably require for the purpose of making a properly informed assessment of the Transaction and its impact on the Company and the Hochschild Group.

1.2.            Project

The following contracts (not being contracts entered into in the ordinary course of business) have been entered into by SAML, Serra Alta Participações Imobiliárias S.A. ("SAPI") (being an entity owned by Amarillo Mineração and SAML),  or by Cerrado in respect of the Project: (i) within the two years immediately preceding the date of this announcement which are or may be material; or (ii) which contain any provision under which SAML, SAPI or Cerrado has any obligation or entitlement which is material to SAML, SAPI or the Project as at the date of this announcement, in each case the details of which the Board considers that Shareholders reasonably require for the purpose of making a properly informed assessment of the Transaction and its impact on the Company and the Hochschild Group:

·        Monte Sinai Agreement

The Project was acquired by Cerrado from Monte Sinai Mineração Ltda. ("Monte Sinai") in April 2018 pursuant to an acquisition agreement between (among others) Cerrado and Monte Sinai (the "Monte Sinai Agreement"). Pursuant to the Monte Sinai Agreement, the previous sellers of the Project have the right to a payment of US$1.5 million if an aggregate of 2.5 million ounces of gold are identified in a mineral resource estimate in respect of the Project in accordance with NI 43-101. This contingent liability will be assigned to and assumed by Amarillo Mineração as a consequence of the Transaction.

·        Bortoloti Purchase Agreement

On May 16, 2023, SAPI entered into a purchase agreement with Luiz Antonio Bortoloti and Donira Alves Bortoloti for the acquisition of the Fazenda Bortoloti rural property (the "Bortoloti Property") (the "Bortoloti Purchase Agreement"). In addition to the purchase price payable for the Bortoloti Property (part of which has been paid and part of which is payable as deferred consideration), the Bortoloti Purchase Agreement provides for the payment of royalties in favor of the former landowners of the Bortoloti Property corresponding to 50% of the amount due to the Brazilian authorities as statutory tax (Compensação Financeira pela Exploração Mineral ("CFEM")). CFEM is an ongoing mineral tax, calculated based on the revenue arising from the sales of ore, with the deduction of marketing taxes.

These perpetual royalty payments will be due on a quarterly basis once mining operations have commenced. The requirement to make such royalty payments will be assigned to and assumed by Amarillo Mineração as a consequence of the Transaction. According to the most recent estimates available to the Company, approximately 25% of the gold reserves of the Project are located within the area comprised by the Bortoloti Property and would accordingly be subject to the payment of such royalties.

·        Sprott Stream Agreement

On March 14, 2022, Cerrado, SAML and SAPI entered into a US$20 million metals purchase and sale agreement with Sprott Private Resource Streaming and Royalty Corp. ("Sprott") in respect of the Project (the "Stream Agreement"). The Stream Agreement provides for the sale and physical delivery to Sprott of 2.25% of metals produced from the Project, for the duration of the Project. The price payable for the metals is calculated by reference to the LBMA price for gold or silver as applicable (the "Reference Price"). Until such time as the US$20 million deposit received from Sprott has been repaid (the "Deposit"), Sprott shall pay an amount equal to 10% of the relevant Reference Price (the "Variable Price") to Cerrado with the balance equal to 90% of the relevant Reference Price being applied to reduce the Deposit. Once the Deposit balance has been repaid, Sprott shall pay the relevant Variable Price for each delivery of gold or silver (as the case may be). Until June 30, 2026, there is a one-time option to buy back 50% of the 'stream' (i.e., to reduce the percentage of production required to be sold to Sprott by 50%) for a price of between US$12.5 million and US$13.5 million.

In connection with the Stream Agreement, Cerrado has issued a US$20 million secured note to Sprott (the "Sprott Note") that bears interest at a rate of 10% per annum, calculated and payable quarterly which will mature on the earlier of the achievement of commercial production together with certain other conditions, or March 14, 2031. The security in respect of the Sprott Note is the assets of SAML, and the shares of SAPI. The Stream Agreement and the Sprott Note will be assigned to and assumed by Amarillo Mineração as a consequence of the Transaction, and accordingly, any future production will be subject to the Stream Agreement and the Sprott Note.

2.                   Litigation and arbitration proceedings

2.1.            Hochschild Group

During the period covering the previous 12 months, there have been no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Company is aware) which may have, or have had, a significant effect on the Company and/or the Hochschild Group's financial position or profitability.

2.2.            Project

During the period covering the previous 12 months, there have been no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Company is aware) which may have, or have had, a significant effect on SAML or the Project's financial position or profitability.

3.               Առնչվող կողմի գործարքներ

Other than those matters disclosed in previously published annual reports and financial statements of the Company and/or otherwise disclosed in this announcement, there were no related party transactions entered into by the Hochschild Group during the period commencing on 1 January 2022 and terminating on the date of this announcement which are relevant to the Transaction.

4.               Զգալի Փոփոխություն

Other than the reduction in Net Debt as reported by the Company on 23 September 2024, there has been no significant change in the financial performance or financial position of the Company since 30 June 2024, being the end of the last financial period for which unaudited preliminary annual financial statements were published.

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Առաջ նայող հայտարարություններ

Այս հայտարարության մեջ պարունակվող որոշ հայտարարություններ, որոնք պատմական փաստ չեն, կարող են լինել «հեռանկարային» հայտարարություններ։ Այս հեռանկարային հայտարարությունները ենթակա են մի շարք ռիսկերի և անորոշությունների, որոնցից շատերը դուրս են Ընկերության վերահսկողությունից և բոլորն էլ հիմնված են Ընկերության ներկայիս համոզմունքների և ապագա իրադարձությունների վերաբերյալ ակնկալիքների վրա: Հեռանկարային հայտարարությունները, որպես կանոն, նույնացվում են հեռանկարային տերմինաբանության օգտագործմամբ, ինչպիսիք են՝ «հավատում է», «ակնկալում է», «կարող է», «կամենա», «կարող է», «պետք է», «մտադիր է», «գնահատում է», « պլանավորում է», «ենթադրում» կամ «ակնկալում է» կամ դրա բացասականությունը կամ դրանց այլ տատանումները կամ համադրելի տերմինաբանությունը, կամ ռազմավարության քննարկումներով, որոնք ներառում են ռիսկեր և անորոշություններ: Բացի այդ, ժամանակ առ ժամանակ Ընկերությունը կամ նրա ներկայացուցիչները բանավոր կամ գրավոր հանդես են եկել կամ կարող են անել հեռանկարային հայտարարություններ: Ավելին, նման հեռանկարային հայտարարությունները կարող են ներառվել, բայց չեն սահմանափակվում դրանով, մամուլի հաղորդագրություններում կամ բանավոր հայտարարություններում, որոնք արվել են Ընկերության լիազորված գործադիր պաշտոնյայի կողմից կամ նրա հաստատմամբ: Այս հեռանկարային հայտարարությունները և այս հայտարարության մեջ պարունակվող այլ հայտարարությունները՝ կապված այն հարցերի հետ, որոնք պատմական փաստեր չեն, ներառում են կանխատեսումներ: Որևէ երաշխիք չի կարող տրվել, որ նման ապագա արդյունքների կհասնեն. փաստացի իրադարձությունները կամ արդյունքները կարող են էապես տարբերվել Ընկերության և նրա դուստր ձեռնարկությունների առջև ծառացած ռիսկերի և անորոշությունների հետևանքով: Նման ռիսկերն ու անորոշությունները կարող են պատճառ հանդիսանալ, որ իրական արդյունքները էականորեն տարբերվեն ապագայի նման հայտարարություններում նշված, արտահայտված կամ ենթադրվող ապագա արդյունքներից:

Հեռանկարային հայտարարությունները արտացոլում են սույն հայտարարության պատրաստման ամսաթվի դրությամբ առկա գիտելիքները և տեղեկատվությունը: Բացառությամբ այն դեպքերի, երբ պահանջվում է կիրառելի օրենսդրությամբ և/կամ կարգավորող պարտավորություններով, Ընկերությունը որևէ պարտավորություն չի ստանձնում թարմացնելու կամ փոփոխելու հեռանկարային հայտարարությունները՝ սույն հայտարարության ամսաթվից հետո տեղի ունեցած իրադարձություններն արտացոլելու համար: Այս հայտարարության մեջ ոչինչ նախատեսված չէ որպես շահույթի կանխատեսում կամ գնահատում որևէ ժամանակաշրջանի համար, և այս հայտարարության մեջ որևէ հայտարարություն չպետք է մեկնաբանվի այնպես, որ շահույթը կամ շահույթը մեկ բաժնետոմսի կամ եկամուտի, գործառնություններից դրամական միջոցների հոսքերի կամ ազատ դրամական միջոցների հոսքի համար Ընկերության համար ընթացիկ կամ Ապագա ֆինանսական տարիները անպայմանորեն կհամընկնեն կամ գերազանցեն պատմական հրապարակված շահույթը կամ մեկ բաժնետոմսի կամ եկամուտը, գործառնություններից դրամական հոսքերը կամ Ընկերության համար դրամական միջոցների ազատ հոսքերը:

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