X2 Resources Announces That It Has Secured up to $3.75 Billion of Committed and Conditional Equity Capital

LONDON, March 31, 2014 /PRNewswire/ --

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, MEMBER STATES OF THE EUROPEAN ECONOMIC AREA OTHER THAN THE UNITED KINGDOM OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT 

X2 Resources Announces That it has Secured up to $3.75 Billion of Committed and Conditional Equity Capital

X2 Resources announces it has secured US$2.50 billion of committed equity capital funding and up to a further US$1.25 billion of conditional equity capital funding, from a group of five investors (the "Club Investors"). The committed equity capital is available for immediate draw down and will be used to finance the creation of a new mid-tier diversified mining and metals group.

The Club Investors, who have contributed in equal amounts, comprise Noble Group, TPG Capital, sovereign wealth and pension fund investors.

Today's announcement represents a critical milestone and enables X2 Resources' investment activities to commence.

X2 Resources is in discussions with a further select group of potential investors who are also seeking to benefit from opportunities in the natural resources arena.

Mick Davis said:

"We have attracted a very prestigious core group of large scale, high quality investors who share our vision of building a new mining group with the potential to generate attractive returns through the cycle. We believe the timing for this venture remains very opportune and we will now focus increased attention on starting the investment process." 

Goldman Sachs International is acting as placement agent to X2 Resources in connection with the fundraising.

Contacts
X2 Resources
Caroline Yates
+44(0)207-389-9500
info@x2resources.com

Aura Financial
Michael Oke, Andy Mills
+44(0)207-321-0000
http://www.aura-financial.com

Goldman Sachs International
Brett Olsher
Christos Tomaras
Stephen Withnell
+44(0)20-7774-1000

Notes to Editors:

About Noble Group  

Noble Group (SGX: N21) manages a portfolio of global supply chains covering a range of agricultural and energy products, as well as metals, minerals and ores. Operating from over 140 locations and employing more than 70 nationalities, Noble facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. In order to ensure the integrity of its supply chains, the Group has a portfolio of interests in strategic logistics and processing assets which form an integral part of facilitating its key trade flows. Noble is ranked number 76 in the 2013 Fortune Global 500. http://www.thisisnoble.com

About TPG  

TPG is a leading global private investment firm founded in 1992 with over $59 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. The firm's investments span a variety of industries, including a wide range of energy sector businesses, as well as industrials. For more information visit http://www.tpg.com.

The distribution of this announcement in certain jurisdictions may be restricted by law. No action has been taken by X2 Resources Partners LP Inc. (the "Partnership") or any of its affiliates that would permit possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. 

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any limited partnership interests in the Partnership ("LP Interests"). Neither this announcement nor any part of it shall form the basis of, or be relied on in connection with, any contract to purchase or subscribe for LP Interests. 

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly in or into the United States, Canada, Australia, Japan, member states of the European Economic Area ("EEA") other than the United Kingdom or any other state or jurisdiction in which such action would be unlawful. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian, Japanese, EEA or other applicable securities laws.

The Partnership is registered by the Guernsey Financial Services Commission (the "Commission") as a registered closed-ended investment scheme pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended (the "POI Law") and the Registered Collective Investment Scheme Rules 2008. Neither the Commission nor the States of Guernsey Policy Council takes any responsibility for the financial soundness of the Partnership or for the correctness of any of statements made or opinions expressed with regard to the Partnership.

This announcement is provided for information purposes only. Any investment in the Partnership or contract or subscription will be made solely on the basis of the final form of a confidential private placement memorandum, the limited partnership agreement relating to the Partnership and the subscription agreement related to the acquisition of LP Interests.