MONTREAL--(BUSINESS WIRE)-- Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill” or the “Company”) today announced the completion of the transactions contemplated by the previously announced statutory plan of arrangement under section 195 of the Business Corporations Act (Yukon) (the “Arrangement”) involving the Company and Rio Tinto International Holdings Limited (“Rio Tinto”). Pursuant to the Arrangement, Rio Tinto acquired the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates did not already own (the “Minority Shares”) for C$43.00 per share in cash.

As a result of the transaction, Turquoise Hill intends to apply to have its common shares delisted from the Toronto Stock Exchange and the New York Stock Exchange and to cease to be a reporting issuer under Canadian securities laws.

Further information regarding the Arrangement and the payment of the consideration payable for Minority Shares is provided in the management information circular dated September 27, 2022, as amended and supplemented on November 24, 2022 (the “Circular”), copies of which are available under Turquoise Hill’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov and on the Company’s website.

About Turquoise Hill

Turquoise Hill is an international mining company focused on the operation and continued development of the Oyu Tolgoi copper-gold mine in Mongolia, which is the Company’s principal and only material mineral resource property. Turquoise Hill’s ownership of the Oyu Tolgoi mine is held through a 66% interest in Oyu Tolgoi LLC; Erdenes Oyu Tolgoi LLC, a Mongolian state-owned entity, holds the remaining 34% interest.