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Benton Resources Corp. Board of Directors Approves Adoption of Shareholder Rights Plan
TSX-V Symbol: BTCV VANCOUVER, Nov. 25 /CNW/ - Benton Resources Corp. ("Benton") (TSX-V: BTC) anno...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTSX-V Symbol: BTCV\n\n\nVANCOUVER, Nov. 25 /CNW/ - Benton Resources Corp. ("Benton") (TSX-V: BTC)\nannounced today that its Board of Directors has approved the adoption of a\nShareholder Rights Plan Agreement (the "Rights Plan"). The Rights Plan is\nbeing adopted to ensure the fair treatment of all Benton shareholders in\nconnection with any take-over bid for the outstanding common shares of Benton.\nThe Rights Plan will provide shareholders with adequate time to properly\nevaluate and assess a take-over bid without facing undue pressure or coercion.\nThe Rights Plan also provides the Board with additional time to consider any\ntake-over bid and, if applicable, to explore alternative transactions in order\nto maximize shareholder value.\n\n\nThe Rights Plan is not designed to prevent take-over bids that treat\nBenton shareholders fairly. Pursuant to the terms of the Rights Plan, any bid\nthat meets certain criteria intended to protect the interests of all\nshareholders are deemed to be "Permitted Bids". A Permitted Bid must be made\nby way of a take-over bid circular prepared in compliance with applicable\nsecurities laws and, in addition to certain other conditions, must remain open\nfor 60 days. In the event a take-over bid does not meet the Permitted Bid\nrequirements of the Rights Plan, the rights issued under the plan will entitle\nshareholders, other than any shareholder or shareholders involved in the\ntake-over bid, to purchase additional common shares of Benton at a significant\ndiscount to the market price of the common shares at that time.\n\n\nThe Rights Plan is not being adopted in response to any proposal to\nacquire control of Benton.\n\n\nThe Rights Plan is subject to approval by the TSX Venture Exchange and\nwill be presented for ratification by the shareholders of Benton within the\nnext six months. If ratified by shareholders, the Rights Plan will have a term\nof three years.\n\n\nOn behalf of the Board of Directors of\nBenton Resources Corp.\n\n"Stephen Stares"\n\nStephen Stares, President and CEO\n\nTHE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-\nlooking statements in this release are made pursuant to the 'safe\nharbor' provisions of the Private Securities Litigation Reform ac...