Pasofino Gold Adopts Shareholder Rights Plan
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) has adopted a shareholder rights plan effective November 1, 2024. The plan aims to protect shareholders during the company's strategic alternatives review process and ensure fair treatment in takeover scenarios. Under the plan, one right attaches to each common share, becoming exercisable if any party acquires 20% or more of shares without following 'Permitted Bid' provisions. In such cases, shareholders can purchase additional shares at a significant discount. The plan requires shareholder ratification within six months and will terminate if not approved.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) ha adottato un piano di diritti degli azionisti che entrerà in vigore il 1° novembre 2024. Il piano mira a proteggere gli azionisti durante il processo di revisione delle alternative strategiche della società e garantire un trattamento equo in scenari di acquisizione. Ai sensi del piano, un diritto è collegato a ciascuna azione comune e diventa esercitabile se una parte acquisisce il 20% o più delle azioni senza seguire le disposizioni del 'Permitted Bid'. In tali casi, gli azionisti possono acquistare ulteriori azioni a un notevole sconto. Il piano richiede la ratifica degli azionisti entro sei mesi e terminerà se non approvato.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) ha adoptado un plan de derechos de los accionistas que comenzará a hacer efecto el 1 de noviembre de 2024. Este plan tiene como objetivo proteger a los accionistas durante el proceso de revisión de alternativas estratégicas de la empresa y asegurar un trato justo en escenarios de adquisición. Según el plan, un derecho se adjunta a cada acción común, siendo ejercitable si alguna parte adquiere el 20% o más de las acciones sin seguir las disposiciones del 'Permitted Bid'. En tales casos, los accionistas pueden comprar acciones adicionales a un descuento significativo. El plan requiere la ratificación de los accionistas dentro de seis meses y se extinguirá si no es aprobado.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF)는 2024년 11월 1일부터 시행되는 주주 권리 계획을 채택했습니다. 이 계획은 회사의 전략적 대안 검토 과정에서 주주를 보호하고 인수 시 공정한 대우를 보장하기 위해 고안되었습니다. 이 계획에 따라 각 보통주에 하나의 권리가 부여되며, 어떤 당사자가 'Permitted Bid' 조항을 따르지 않고 20% 이상의 주식을 인수할 경우 그 권리를 행사할 수 있습니다. 이러한 경우 주주는 상당한 할인된 가격으로 추가 주식을 구매할 수 있습니다. 이 계획은 주주의 승인을 요구하며, 6개월 이내에 승인되지 않으면 종료됩니다.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) a adopté un plan de droits des actionnaires qui entrera en vigueur le 1er novembre 2024. Ce plan vise à protéger les actionnaires durant le processus d'examen des alternatives stratégiques de la société et à garantir un traitement équitable en cas de rachat. Selon ce plan, un droit est attaché à chaque action ordinaire, devenant exerçable si une partie acquiert 20 % ou plus des actions sans respecter les dispositions du 'Permitted Bid'. Dans de tels cas, les actionnaires peuvent acheter des actions supplémentaires à un prix très réduit. Le plan nécessite la ratification des actionnaires dans un délai de six mois et sera annulé s'il n'est pas approuvé.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) hat einen Aktieninhaberechtsplan angenommen, der am 1. November 2024 in Kraft treten wird. Der Plan soll die Aktionäre während des Prozesses der Prüfung strategischer Alternativen des Unternehmens schützen und eine faire Behandlung in Übernahmeszenarien gewährleisten. Nach dem Plan ist ein Recht an jede Stammaktie gebunden, das ausgeübt werden kann, wenn eine Partei 20% oder mehr der Aktien erwirbt, ohne die Bestimmungen des 'Permitted Bid' einzuhalten. In solchen Fällen können Aktionäre zusätzliche Aktien zu einem erheblichen Rabatt erwerben. Der Plan erfordert die Genehmigung der Aktionäre innerhalb von sechs Monaten und läuft ab, wenn er nicht genehmigt wird.
- Implementation of shareholder protection mechanism against hostile takeovers
- Preservation of strategic alternatives review process integrity
- Plan requires shareholder approval within 6 months to remain effective
- Risk of plan termination if not approved by shareholders
Toronto, Ontario--(Newsfile Corp. - November 1, 2024) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce that it has adopted a shareholder rights plan (the "Rights Plan") effective as of November 1, 2024 (the "Effective Date").
The Rights Plan has been adopted with a view to preserve the integrity of our previously announced strategic alternatives review process and to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any takeover bid for the Company.
Pursuant to the Rights Plan, one right (the "Right") attaches to each issued and outstanding common share of Pasofino. Subject to the terms of the Rights Plan, the Rights become exercisable in the event that any person, (together with any affiliates, associates and persons acting in concert, as applicable (the "Related Parties") becomes a beneficial holder of
While the Rights Plan is effective immediately, it is subject to (i) execution by Computershare Investor Services Inc. the proposed rights agent and (ii) ratification by the Company's shareholders within six months of its adoption. A summary of the principal terms of the Rights Plan will be included in the management information circular for the meeting to be held within 6 months to ratify the Rights Plan which will be sent to all Pasofino shareholders as of the applicable record date for such meeting and a complete copy of the Rights Plan will be available under the Company's profile on SEDAR+ at www.sedarplus.com. If the Rights Plan is not approved by the shareholders within six months of the Effective Date it, together with the outstanding Rights, will terminate and cease to be effective.
ABOUT PASOFINO GOLD LTD.
Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSXV (VEIN).
Pasofino, through its wholly-owned subsidiary, owns
For further information, please visit www.pasofinogold.com or contact:
Brett A. Richards
Director
T: +1 905 449 1500
E: brett@brettrichards.org
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 release.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the ability to successfully complete the second Offering, the ability to obtain all requisite regulatory approvals including the final approval of the TSXV, the ability to apply the proceeds as intended, the results of business operation, the results of exploration activities; the results of the strategic review process, the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228665
FAQ
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