On March 15, 2023, Noranda Income Fund (NIF) confirmed the completion of its acquisition by Glencore Canada Corporation. Through a plan of arrangement, Glencore acquired all issued and outstanding priority units of NIF for C$1.98 per unit. Before the deal, Glencore possessed 12.5 million special units, representing about 25% of the NIF. Following the transaction, Glencore now fully owns NIF. Subsequent to the acquisition, NIF's priority units are anticipated to be removed from the Toronto Stock Exchange in the next two to three trading days. Moreover, steps are being taken for NIF to terminate its reporting issuer status in Canadian provinces. Detailed specifics on the acquisition terms are available on SEDAR. Post-acquisition, NIF functions as a fully owned subsidiary of Glencore, managing the second-largest zinc processing facility in North America located in Quebec. Glencore, a major global natural resource company, employs approximately 135,000 personnel globally and is committed to reducing its emissions, aiming for net zero by 2050. Various entities advised on the acquisition. The Independent Committee of Noranda's Board of Trustees received an independent valuation and fairness opinion from Accuracy Canada Inc. and legal advice from Fasken Martineau DuMoulin LLP. Paradigm Capital Inc. and Torys LLP assisted the Independent Committee and the Fund's manager, respectively. Glencore was advised financially by BMO Capital Markets and legally by McCarthy Tétrault LLP.