ACCESS Newswire
22 Nov 2021, 18:13 GMT+10
VANCOUVER, BC / ACCESSWIRE / November 22, 2021 / Silver Range Resources Ltd. (TSXV:SNG) ('Silver Range') has approved the adoption of a shareholder rights plan designed to provide its shareholders with full and fair value in the event of a possible takeover bid for its common shares. Adoption of this shareholder rights plan will be submitted for ratification by shareholders at a general meeting to be held by May 19, 2022, and is subject to regulatory acceptance.
Silver Range believes that this shareholder rights plan preserves the fair treatment of shareholders, and is consistent with Canadian corporate practice and institutional investor guidelines. The objective of the shareholder rights plan is to ensure that, in the event of a bid for control through acquisition of Silver Range's common shares, there are provisions in place to:
Under the terms of the shareholder rights plan, Silver Range will distribute one right of exercise for every common share outstanding as at the time of record. The rights issued under the shareholder rights plan will become exercisable when a person, including any related parties, acquires or announces its intention to acquire 20 per cent or more of Silver Range's outstanding common shares without complying with the permitted bid provisions or without approval of Silver Range's Board of Directors. If that occurs, each right would entitle a holder, other than the acquiring person and related parties, to purchase common shares of Silver Range at a substantial discount to their market value.
A permitted bid must be made through a takeover bid circular prepared in compliance with applicable securities laws, remain open for 60 days and satisfy certain other conditions.
As of the date of this News Release, Silver Range is not aware of any pending or threatened takeover bid for its common shares.
For additional information concerning Silver Range Resources Ltd., please visit Silver Range's website at www.silverrangeresources.com.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, of which 16 are currently under option to others. Three other properties have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
'Michael A. Power'
President, Chief Executive Officer and Director
For further information concerning Silver Range or its exploration projects please contact:
Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
[email protected]
http://www.silverrangeresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Silver Range Resources Ltd.
Get a daily dose of Hawaii Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hawaii Telegraph.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...