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 Boston Star 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 Boston Star.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
(Photo credit: David Butler II-Imagn Images) Ceddanne Rafaela hit a walk-off, two-run home run in the bottom of the ninth inning...
(Photo credit: David Butler II-Imagn Images) Boston Red Sox starting pitcher Hunter Dobbins exited Friday night's game against the...
(Photo credit: Brad Penner-Imagn Images) New York Yankees left-hander Carlos Rodon was named to the American League All-Star team...
(Photo credit: Geoff Burke-Imagn Images) Boston Legacy FC signed striker Aissata Traore to a three-year contract through the 2028...
(Photo credit: Patrick Breen/The Republic / USA TODAY NETWORK via Imagn Images) Two teams hoping to get back to the .500 mark before...