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Ecstall Mining Corporation advises shareholders to take no action on hostile takeover bid from Mantle Resources Inc.
Ecstall Mining Corporation advises shareholders to take no action on hostile takeover bid from Mantle Resources Inc..
About this update from East Africa Metals, Inc.
[{"type":"text","content":"\n\n\n\nTRADING SYMBOL: EAM-TSXVenture 12G EXEMPTION No. 82-2647\n\n\nVANCOUVER, Jan. 2 /CNW/ - Ecstall Mining Corporation (TSX Venture: EAM)\n(\"Ecstall\" or the \"Company\") confirms that Mantle Resources Inc. (\"Mantle\")\nhas commenced a hostile takeover bid for all of the issued and outstanding\ncommon shares of the Company. Under the terms of the offer Ecstall\nshareholders would receive 0.40 of a common share of Mantle for each Ecstall\nshare.\n\n\nThe Board of Directors of Ecstall will thoroughly review, consider and\nevaluate the offer from Mantle in consultation with its financial and legal\nadvisors. During this evaluation, the Ecstall Board will consider and review\nall available strategic alternatives, including remaining as a stand-alone\ncompany.\n\n\nFollowing the review process, Ecstall will file a Directors' Circular\nwith the applicable securities commissions in Canada, which will outline the\nCompany's response to the hostile bid and will contain important new material\ninformation for shareholders. Ecstall shareholders are urged not to tender\ntheir shares to the hostile Mantle offer prior to reviewing this important\ninformation.\n\n\nShareholders who have already tendered to the Mantle offer and wish to\nwithdraw their shares are encouraged to contact Kingsdale Shareholder Services\nInc. at toll-free 1-866-833-6980.\n\n\nEcstall is a Vancouver based mineral exploration and development company\nthat has been listed on the TSX-Venture Exchange since 1989 and trades under\nthe symbol \"EAM\". Ecstall's exploration and property acquisition efforts are\nfocused on polymetallic massive sulphide targets (VMS copper-zinc-gold and\nSedex zinc-lead-silver) in British Columbia and Alberta, as well as four\nadvanced gold projects in the Eskay Creek and South Okanagan areas of British\nColumbia. Ecstall has an extensive portfolio of mineral properties, including\nthe Akie sedex zinc deposit, the adjacent Pie and Yuen sedex zinc projects and\nabout 60 km of other claims located along the prospective Gunsteel shale\nwithin the Kechika Trough Zinc District of northern British Columbia.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\nECSTALL MINING CORPORATION\n\n\n\"CHRIS GRAF\"\n\n\nCHRIS GRAF P.Eng., President\n\n\nThe TSX Venture Exchange has neither approved nor disapproved the\n\n\ncontents of this press release.\n\n\n...