Owner
Post by Franko10 ™ on Sept 20, 2004 15:26:51 GMT -5
Great Western Gold Corp.
P.O. Box 69
Saskatoon, SK S7K 3K1
CDNX: GWG
CUSIP: 39144H107
June 7, 2002
MANAGEMENT ADOPTS SHAREHOLDER RIGHTS PLAN
Neil P. Yingling, President/CEO, Director is pleased to announce that management has proposed and the board of directors has agreed to the adoption of a Shareholder Rights Plan to protect the Company's shareholders from unfair, abusive or coercive take-over strategies, including the acquisition of control of the Company through a take-over bid that does not treat all shareholders equally or fairly. The Shareholder Rights Plan will be discussed at the Annual General Meeting of June 19, 2002 and presented for shareholder approval at the next shareholders' meeting. The adoption of the Shareholder Rights Plan is subject to TSX Venture Exchange approval.
In making the announcement, the Company further announces it is not aware of any pending or threatened take-over bid for the Company.
To implement the Plan, the Board of Directors of the Company will be asked to authorize the issue of one Right in respect of each common share of the Company outstanding to holders of record on the date that the Company's transfer agent, ComputerShare Trust Company of Canada., executes the agreement implementing the Plan. The issuance of the Rights is subject to (i) receipt of TSX Venture Exchange approval of the adoption of the Plan, and (ii) an increase in the Company's authorized share capital in order to facilitate the adoption of the Plan. Initially, the Rights will attach to and trade with the common shares and be represented by certificates representing common shares.
On the occurrence of certain triggering events, including the acquisition by a person or group of persons of 20% or more of the votes attached to all outstanding voting shares of the Company in a transaction not approved by the Board of Directors, the Rights separate from the common shares and will entitle holders (other than the acquiring person or group of persons) to acquire shares of the Company at a discount to the prevailing market price of the shares.
The Rights are not triggered by purchases of voting shares made pursuant to a "Permitted Bid" made to all holders of common shares on identical terms. A Permitted Bid must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and must comply with certain other conditions set out in the agreement signed to implement the Plan.
Although the Rights Plan is effective upon its adoption, the Plan will be submitted to the shareholders of the Company for confirmation at the Company's next shareholders' meeting following the annual general meeting scheduled to be held on June 19, 2002. At the meeting, shareholders will also be asked to approve a resolution increasing the authorized share capital of the Company.
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Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
CDNX: GWG
CUSIP: 39144H107
June 7, 2002
MANAGEMENT ADOPTS SHAREHOLDER RIGHTS PLAN
Neil P. Yingling, President/CEO, Director is pleased to announce that management has proposed and the board of directors has agreed to the adoption of a Shareholder Rights Plan to protect the Company's shareholders from unfair, abusive or coercive take-over strategies, including the acquisition of control of the Company through a take-over bid that does not treat all shareholders equally or fairly. The Shareholder Rights Plan will be discussed at the Annual General Meeting of June 19, 2002 and presented for shareholder approval at the next shareholders' meeting. The adoption of the Shareholder Rights Plan is subject to TSX Venture Exchange approval.
In making the announcement, the Company further announces it is not aware of any pending or threatened take-over bid for the Company.
To implement the Plan, the Board of Directors of the Company will be asked to authorize the issue of one Right in respect of each common share of the Company outstanding to holders of record on the date that the Company's transfer agent, ComputerShare Trust Company of Canada., executes the agreement implementing the Plan. The issuance of the Rights is subject to (i) receipt of TSX Venture Exchange approval of the adoption of the Plan, and (ii) an increase in the Company's authorized share capital in order to facilitate the adoption of the Plan. Initially, the Rights will attach to and trade with the common shares and be represented by certificates representing common shares.
On the occurrence of certain triggering events, including the acquisition by a person or group of persons of 20% or more of the votes attached to all outstanding voting shares of the Company in a transaction not approved by the Board of Directors, the Rights separate from the common shares and will entitle holders (other than the acquiring person or group of persons) to acquire shares of the Company at a discount to the prevailing market price of the shares.
The Rights are not triggered by purchases of voting shares made pursuant to a "Permitted Bid" made to all holders of common shares on identical terms. A Permitted Bid must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and must comply with certain other conditions set out in the agreement signed to implement the Plan.
Although the Rights Plan is effective upon its adoption, the Plan will be submitted to the shareholders of the Company for confirmation at the Company's next shareholders' meeting following the annual general meeting scheduled to be held on June 19, 2002. At the meeting, shareholders will also be asked to approve a resolution increasing the authorized share capital of the Company.
--------------------------------------------------------------------------------
Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
