Business
Almadex Minerals Adopts Shareholders Rights Plan
VANCOUVER, BC--(Marketwired - January 05, 2016) - The Board of Directors (the "Board") of Almadex Minerals Limited ("Almadex" or the "Company") (TSX VENTURE: AM
About this update from Mustang Minerals Limited
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - January 05, 2016) - The Board of Directors (the \"Board\") of Almadex Minerals Limited (\"Almadex\" or the \"Company\") (TSX VENTURE: AMZ) (OTCQB: AXDDF) has adopted a shareholder rights plan (the \"Plan\"). The Plan has been accepted for filing by the TSX Venture Exchange. The Plan is not intended to prevent takeover bids for the Company, to secure continuance of current management or the directors in office or to deter fair offers for the Company's shares. The Plan will provide the Board and the shareholders with more time to fully consider any unsolicited takeover bids for the Company without any undue pressure, it will allow the Board to pursue other alternatives to maximize shareholder value, and it will allow additional time for competing bids to emerge. The Plan will protect the Company's shareholders from unfair, abusive or coercive takeover strategies, including the acquisition of control of the Company through a takeover bid that does not treat all shareholders equally or fairly. To implement the Plan, the Board authorized the issue, on January 4, 2016, of one right in respect of each common share outstanding to the holder of record at 5:00 p.m. (Vancouver time) on January 4, 2016. The rights will trade with 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 20% or more of the votes attached to all outstanding voting shares of the Company in a transaction not approved by the Board, the rights will entitle the holders (other than the acquiring person or group) to acquire shares of the Company at a discount to the market price. The rights are not triggered by purchases of voting shares made pursuant to a permitted bid, a takeover bid made to all holders of common shares on identical terms. A permitted bid must be made by way of a takeover bid circular prepared in compliance with applicable securities laws and must comply with certain other conditions including the requirement that it must be open for at least 120 days (a period consistent with the proposed amendments to the take-over bid regime published by Canadian Securities Administrators in March, 2015) and more than 50% of the common shares (other than shares beneficially owned b...