DGAP-News: Champion Minerals Inc. Adopts Shareholder Rights Plan
(firmenpresse) - DGAP-News: Champion Minerals Inc. / Key word(s): Miscellaneous
Champion Minerals Inc. Adopts Shareholder Rights Plan
01.07.2011 / 12:42
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For Immediate Release:
Champion Minerals Inc. Adopts Shareholder Rights Plan
Toronto, Ontario (June 30, 2011) - Champion Minerals Inc. ('Champion
Minerals' or the 'Company') (TSX: CHM) (FSE: P02) today announced that its
board of directors approved the adoption of a shareholder rights plan (the
'Rights Plan') which takes effect today. The Rights Plan is similar to
plans adopted by other Canadian companies, and has been adopted to ensure
the fair treatment of shareholders in the event of any take-over bid for
Champion Minerals' common shares.
The Rights Plan has conditionally been approved by the Toronto Stock
Exchange and although the Rights Plan is effective immediately, it will be
submitted to the shareholders of Champion Minerals for ratification and
confirmation at the 2011 annual and special meeting, currently scheduled
for July 27, 2011.
The primary objectives of the Rights Plan are to provide shareholders of
Champion Minerals with adequate time to properly evaluate any offer, and
also to provide the board of directors of Champion Minerals with additional
time to assess any offer and, if appropriate, to explore and develop
alternatives for maximizing shareholder value. The Rights Plan in no way
prohibits a change of control of Champion Minerals in a transaction that is
procedurally fair to its shareholders.
Thomas Larsen, president and chief executive officer of Champion Minerals
said, 'The decision to adopt a Rights Plan was not made in response to any
specific take-over bid for Champion Minerals, nor is the board of directors
aware of any pending, or threatened take-over bid.'
The full text of the Rights Plan will be made available on Champion
Minerals' website at www.championminerals.com, and will be posted under the
Company's filings on the SEDAR website at www.sedar.com.
About Champion Minerals Inc.
Champion Minerals Inc. is a Canadian-based iron ore exploration and
development company with properties located in the heart of Canada's
premier iron ore mining district, the Labrador Trough. Champion Minerals is
one of the largest landholders of highly prospective iron ore claims
located southwest of Fermont, Quebec and northeast of Schefferville. The
Company's core projects include Fire Lake North, Bellechasse and Harvey-
Tuttle. The Fermont area is located close to water, power, roads and
railways, and connects to three ports on Quebec's north shore of the St.
Lawrence Seaway. Champion Minerals' shares are traded on the Toronto Stock
Exchange under the symbol CHM.
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For further information please contact:
Thomas G. Larsen
President and CEO
Tel: (416) 866-2200; Toll-Free: (877) 448-220
Email: info(at)championminerals.com
Jorge Estepa
Vice-President, Secretary and Treasurer
Tel: (416) 866-2200; Toll-Free: (877) 448-2201
Email: info(at)championminerals.com
Salisha Hosein
Director, Investor Relations
Tel: 416-866-2200; Toll-Free: (877) 448-2201
Email: info(at)championminerals.com
End of Corporate News
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01.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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130588 01.07.2011
Datum: 01.07.2011 - 12:42 Uhr
Sprache: Deutsch
News-ID 34521
Anzahl Zeichen: 0
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Kategorie:
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