The Board of Directors of the Company has elected to adopt an amended and restated shareholder rights plan that was presented to and approved by the shareholders of the Company at the Company’s annual general meeting held on December 13, 2012. The amended and restated shareholder rights plan was also approved by the TSX Venture Exchange on January 09, 2013.
The amended and restated shareholder rights plan has been adopted to ensure the fair treatment of all shareholders with respect to any takeover bid for the common shares of the Company. It is designed to provide shareholders with sufficient time to properly consider a takeover bid without undue time constraints. In addition, it will provide the Board with additional time for review and consideration of an unsolicited takeover bid and, if necessary, for the consideration of alternatives.
This amended and restated shareholder rights plan is not being adopted in response to any proposal to acquire control of the Company.
The Company advises that it has also accepted the resignation of Mr. Michel Roy as a Director effective immediately. The Company would like to thank Mr. Roy for his years of service and wish him continued success as he pursues various opportunities.
The Company has appointed Mr. John Archibald, A.P.G.O., P.Geo., as Director replacing the vacancy created through the resignation by Mr. Roy. Mr. John Archibald is self-employed as a consulting geologist working under contract for a number of mineral exploration companies. John graduated with a Bachelor of Science Honours degree in Geology from Carleton University in Ottawa, Ontario. Mr. Archibald is a member of the Ontario Prospectors Association (Southern Ontario Branch) and is a Fellow in the Geological Association of Canada (FGAC). Since graduation from university, he has accumulated 40 years of experience as a Geologist. John provides excellent experience to UC Resources as the Company continues with its drilling efforts at its Xora concession, immediately adjacent to the La Yesca mill operations. The Company welcomes John Archibald as a Director of UC Resources.
BY ORDER OF THE BOARD OF DIRECTORS OF
UC RESOURCES LTD.
“Gary Monaghan”
Gary Monaghan,
Chief Executive Officer
We seek safe harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors or interested parties are invited to visit the UC Resources Website at http://www.ucresources.net – where they can choose to join the opt-in e-mail list to receive all future press releases and updates in real time.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the La Yesca properties and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
