Business
Berkwood Resource Ltd. Adopts Shareholder Rights Plan
(via TheNewswire) September 21 st , 2017 / TheNewswire / VANCOUVER, B.C. - Berkwood ...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"Berkwood Resource Ltd. Adopts Shareholder Rights Plan(via TheNewswire)\n\n \nSeptember 21st, 2017 / TheNewswire / VANCOUVER, B.C. - Berkwood Resources Ltd. (TSX-V: BKR) (USA: CZSVF) (FSE: BK2 WKN: A110N3) (\"Berkwood\" or the \"Company\") is pleased to announce that its Board of Directors (the \"Board\") has adopted a shareholder rights plan (the \"Plan\"). The Plan is designed to promote equitable treatment of our shareholders in any public offer aimed at the purchase of the Company.\n\n \n \nTom Yingling, President and CEO states, \"Berkwood Resources is well positioned in the high tech mineral Industry as not only has it intersected Graphite in all of the ten holes drilled to date on its Lac Gueret property beside Mason Graphite's deposit, but the Company is also well positioned with its Cobalt and Lithium projects as well. The success in the early stages of the Lac Gueret drill program confirms that the geophysics are confirming the presence of a large Graphite body. Drilling is planned to continue soon to delineate the Graphite body. Management has decided to proceed with the shareholder rights plan in order to ensure that the shareholders of Berkwood would get the most valuable takeover amount should an offer be presented.\"\n\n \n \nThe Shareholder Rights Plan will be similar to plans adopted by other Canadian mineral exploration & mining companies and ratified by their shareholders. The Plan has been designed to encourage fair and equal treatment of shareholders in connection with any takeover bid for Berkwood's outstanding securities, and will provide the Board of Directors adequate time to consider and evaluate any unsolicited bid for the common shares of the Company (the \"Common Shares\"); adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid; the Company's shareholders are treated fairly in connection with any take-over bid made for the Common Shares; and the Board can take steps to enhance shareholder value if an unsolicited bid is received. Berkwood is not adopting the Plan in response to any specific proposal to acquire control of its outstanding securities.\n\n \n \nThe Shareholder Rights Plan is intended to encourage any bid to satisfy certain minimum standards designed to promote fairness. If a bid fails to meet these minimum s...