Green River Gold Corp. Adopts Shareholder Rights Plan
Edmonton, Alberta--(Newsfile Corp. - November 18, 2021) - Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") announces that it has entered into a Shareholder Rights Plan Agreement (the "Rights Plan") with Computershare Investor Services Inc., as rights agent.
The Rights Plan is being adopted to ensure that, to the extent possible: (i) the shareholders of the Company and the Board have adequate time to consider and evaluate any unsolicited bid for the common shares of the Company (the "Common Shares"); (ii) the Board has adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid; (iii) the Company's shareholders are treated fairly in connection with any take-over bid made for the Common Shares; and (iv) the Board can take steps to enhance shareholder value if an unsolicited bid is received. The Rights Plan has not been adopted in response to, or in anticipation of, any pending unsolicited bid to acquire control of the Company.
Pursuant to the Rights Plan, one right (a "Right") will be issued and attached to each Common Share of the Company outstanding as at November 10, 2021 (the "Effective Date"). A Right will also attach to each Common Share of the Company issued after the Effective Date. The Rights Plan includes "Permitted Bid" provisions which will prevent the dilutive effects of the Rights Plan from operating if a take-over bid is made by way of a take-over bid circular that, among other things, is made to all shareholders, remains open for a minimum of 105 days and is accepted by a specified proportion of the Common Shares held by independent shareholders. Subject to certain exceptions as set out in the Rights Plan, the Rights Plan will be triggered by an acquisition or the commencement of an acquisition, other than pursuant to a Permitted Bid, of 20% or more of the outstanding Common Shares.
While the Rights Plan is effective immediately, the Company has elected to make the Rights Plan subject to confirmation by the Company's shareholders. The Company will be seeking shareholder confirmation of the Rights Plan at the next annual and special meeting of the shareholders of the Company, expected to be held in December, 2021. A summary of the principal terms of the Rights Plan will be included in the management information circular to be sent to shareholders in connection with such meeting and a complete copy of the Rights Plan will be available under the Company's profile on SEDAR at www.sedar.com. If the Rights Plan is not approved by the shareholders, it, together with the outstanding rights, will terminate and cease to be effective.
About Green River Gold Corp.
Green River Gold is a Canadian mineral exploration company focused on its wholly owned, high-grade Fontaine Gold Project, Quesnel Nickel/Cobalt Project and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,440 hectares, along the southeast flank of Mount Catherine.
For more information contact, please contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
Ms. Rad Rajaram - Manager, Corporate Relations and Business Development
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104164