Post by Franko10 ™ on Apr 4, 2005 17:34:17 GMT -5
Kensington Resources Ltd.: Shareholder Rights Plan Approved at Extraordinary General Meeting
4/4/2005 6:35:02 PM
VANCOUVER, British Columbia, Apr 04, 2005 (BUSINESS WIRE) -- Kensington Resources Ltd. (the "Company")(TSX VENTURE:KRT) announces that at the Extraordinary General Meeting today, the shareholders of the Company ratified the adoption of the Shareholder Rights Plan announced in the Company's news release of October 7, 2004.
"The Shareholder Rights Plan is designed to protect shareholders from abusive or coercive takeover strategies. It is not intended to prevent a takeover or to deter fair offers for securities of the Company, but is designed to encourage an offeror to make an offer that represents fair value to all shareholders," said Robert A. McCallum, President & CEO of Kensington Resources Ltd.
Following the extraordinary general meeting, Mr. McCallum made a brief presentation of the Advanced Exploration and Evaluation Program for the Fort a la Corne Diamond Project. A copy of the presentation will be posted on the Company's website at www.kensington-resources.com.
Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners are now entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Kensington Resources Ltd. (CA:KRT)
SOURCE: Kensington Resources Ltd.
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
1-800-710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com
Copyright Business Wire 2005
4/4/2005 6:35:02 PM
VANCOUVER, British Columbia, Apr 04, 2005 (BUSINESS WIRE) -- Kensington Resources Ltd. (the "Company")(TSX VENTURE:KRT) announces that at the Extraordinary General Meeting today, the shareholders of the Company ratified the adoption of the Shareholder Rights Plan announced in the Company's news release of October 7, 2004.
"The Shareholder Rights Plan is designed to protect shareholders from abusive or coercive takeover strategies. It is not intended to prevent a takeover or to deter fair offers for securities of the Company, but is designed to encourage an offeror to make an offer that represents fair value to all shareholders," said Robert A. McCallum, President & CEO of Kensington Resources Ltd.
Following the extraordinary general meeting, Mr. McCallum made a brief presentation of the Advanced Exploration and Evaluation Program for the Fort a la Corne Diamond Project. A copy of the presentation will be posted on the Company's website at www.kensington-resources.com.
Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners are now entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Kensington Resources Ltd. (CA:KRT)
SOURCE: Kensington Resources Ltd.
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
1-800-710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com
Copyright Business Wire 2005