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Treasury Metals Adopts Shareholder Rights Plan and Advance Notice By-Law; Extends Terms of Warrants
Treasury Metals Adopts Shareholder Rights Plan and Advance Notice By-Law; Extends Terms of...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Metals Adopts Shareholder Rights Plan and Advance Notice By-Law; Extends Terms of Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 1, 2018\n\n\n\nTSX: TML     OTCQX: TSRMF\n\n\n\nTORONTO, May 1, 2018 /CNW/ - Treasury Metals Inc. (TSX: TML) (OTCQX: TSRMF) (the \"Company\") has adopted a shareholder rights plan (the \"Rights Plan\"). The purpose of the Rights Plan is to provide the shareholders and Board of Directors with adequate time to consider and evaluate any unsolicited bid and to provide the Board of Directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid.\n\nThe Rights Plan has been conditionally accepted by the Toronto Stock Exchange (the \"TSX\") and is effective as of April 30, 2018 (the \"Effective Date\"). At the close of business on the Effective Date, one right (a \"Right\") will be issued and attached to each Common Share outstanding at that time. A Right will also be attached to each Common Share issued after the Effective Date. The issuance of the Rights will not change the manner in which shareholders trade their Common Shares. If the Rights Plan is not ratified by shareholders at the upcoming annual and special meeting of the Company on June 13, 2018, the Rights Plan and all Rights outstanding at that time will terminate. If the Rights Plan is ratified by shareholders at such meeting, the Rights Plan will be in effect until the termination of the Company's annual meeting in 2021 unless reapproved by shareholders at that time. \n\nThe Rights Plan is similar to other rights plans adopted by many Canadian corporations. The Rights Plan is not triggered if an offer to acquire Common Shares is made as a \"Permitted Bid\" and thereby allows sufficient time for shareholders to consider and react to the offer. A \"Permitted Bid\" is a take-over bid made by way of a take-over bid circular in compliance with National Instrument 62-104 Take-Over Bids and Issuer Bids. The Rights Plan will be trigger...