UC Resources Ltd. Adopts an Amended and Restated Shareholder Rights
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/15/13 -- UC
Resources Ltd. (TSX VENTURE:UC) -
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
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
BY ORDER OF THE BOARD OF DIRECTORS OF UC RESOURCES LTD.
Gary Monaghan, Chief Executive Officer
We seek safe harbour.
Investors or interested parties are invited to visit the UC Resources
Website at 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.
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.
UC Resources Ltd.
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