Aurizon Announces Hearing on Shareholder Rights Plan
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/12/13 -- The Board
of Directors of Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK) ("Aurizon"
or the "Company") announced today that the British Columbia
Securities Commission (the "BCSC") will hold a hearing on February
18, 2013 in response to an application made by Alamos Gold Inc.
("Alamos") for an order to cease trade Aurizon's shareholder rights
plan (the "Rights Plan"). The Rights Plan was adopted by Aurizon on
January 22, 2013.
Aurizon is preparing submissions to the BCSC to oppose Alamos'
application, which follows Alamos' January 14, 2013 unsolicited
take-over bid for all of Aurizon's shares. The Rights Plan is needed
in order to provide sufficient time for Aurizon to explore
value-enhancing strategic alternatives. The Board of Directors firmly
maintains that the Rights Plan continues to be in the best interests
of Aurizon and its shareholders.
As noted in Aurizon's February 8, 2013 press release, a number of
parties have entered into confidentiality agreements with the Company
and are in the process of conducting diligence and making site
visits. The Shareholder Rights Plan is important to ensure the Board
has adequate time to consider these and all other potential
alternatives to the Alamos offer. The Rights Plan also ensures that
all shareholders receive equal treatment in the event of an
unsolicited offer. The Board of Directors did not adopt the Rights
Plan to prevent a take-over of the Company, to secure the continuance
of management or the directors or to deter fair offers for Aurizon
Aurizon continues to advise its shareholders not to tender to Alamos'
inadequate bid, which is subject to a number of conditions that have
yet to be satisfied, and to withdraw any shares that have already
been tendered. By tendering to Alamos' inadequate bid, shareholders
may forego the opportunity to benefit from any value-enhancing
alternative that may otherwise emerge from the Board of Directors'
ongoing efforts to maximize value described above.
The reasons for the recommendation by the Board of Directors that
shareholders REJECT Alamos' unsolicited offer can be found in the
directors' circular of Aurizon dated January 22, 2013, which is
e on Aurizon's website at www.aurizon.com,on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. Aurizon shareholders are
advised to read the directors' circular in full, as it contains
important information regarding the Board of Directors'
recommendation to reject the Alamos offer.
Shareholders who have tendered their shares to the Alamos offer and
who wish to obtain advice or assistance in withdrawing their shares
are urged to contact their broker or Georgeson, the information agent
retained by Aurizon, at one of the telephone numbers listed below.
Shareholders who have questions or require any assistance can contact
Georgeson by calling toll free in North America at 1-888-605-7616,
calling collect from outside North America at 1-781-575-2422, or by
email at email@example.com.
This document may contain forward-looking information or
forward-looking statements within the meaning of applicable
securities laws (collectively, "forward-looking statements"),
including those regarding the identification, development and
negotiation of alternatives to the Alamos offer. These
forward-looking statements are based on a number of assumptions,
including as to the value of Aurizon's assets, that the process
initiated by the Board of Directors to explore alternatives to
maximize the value of Aurizon will proceed as currently contemplated
and that superior alternatives to present to Aurizon Shareholders
will be available and can be sufficiently advanced in the time
available. There can be no assurance that forward-looking statements
herein will prove to be accurate and you should not place undue
reliance on them. Actual results and developments may differ
materially from those expressed or implied by these forward-looking
statements, including due to superior alternatives not being
available or being unable to be sufficiently advanced in the time
available and to those risks set forth in the Aurizon Directors'
Circular dated January 22, 2013 and Aurizon's Annual Information Form
dated March 30, 2012, which are available at www.sedar.com. Aurizon
specifically disclaims any obligation to reissue or update these
forward-looking statements as a result of new information or events
after the date hereof, except as may be required by law.
Aurizon is a gold producer with a growth strategy focused on
developing its existing projects in the Abitibi region of
north-western Quebec, one of the world's most favourable mining
jurisdictions and prolific gold and base metal regions, and by
increasing its asset base through accretive transactions. Aurizon
shares trade on the Toronto Stock Exchange under the symbol "ARZ" and
on the NYSE MKT under the symbol "AZK". Additional information on
Aurizon and its properties is available on Aurizon's website at
Longview Communications - Media Contact
Longview Communications - Media Contact
Aurizon Mines Ltd. - Investor Contact
Manager Investor Relations
604-687-6600 or Toll Free: 1-888-411-GOLD (4653)
Aurizon Mines Ltd.
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