Northern Superior Resources Inc. (TSXV:SUP) announces adoption of Shareholders Rights Plan.
Sudbury, Ontario, 2009. Northern Superior Resources Inc. (the "Company") is pleased to announce that it has adopted a shareholder rights plan (the "Rights Plan") designed to encourage the fair treatment of its shareholders in the event of an unsolicited take-over bid for shares of the Company. The Rights Plan is designed to give the Company's shareholders sufficient time to properly assess a take-over bid without undue pressure and to give the Company's Board of Directors time to consider alternatives that allow the Company's shareholders to receive full and fair value for their common shares.
Pursuant to the Rights Plan, each holder of record of the outstanding common shares of the Company at 5:00 p.m. (CDT) on, 2009 will be issued one right per common share. The rights will trade with the common shares and be represented by the certificates representing common shares. Although the Rights Plan is effective immediately, it is subject to regulatory approval and ratification by the Company's shareholders. The Rights Plan will be submitted to the shareholders of the Company for confirmation at its next annual meeting which is anticipated to be held in May of 2010, unless earlier approval is required by regulatory authorities.
A copy of the Rights Plan will be posted on the website of the Company at the website address listed below.
The Rights Plan is similar to shareholder rights plans adopted by numerous other Canadian corporations. Neither the Board nor senior management of the Company is aware of any current, pending or threatened take-over bid for the Company.
About Northern Superior Resources Inc.
Northern Superior Resources Inc. is a junior exploration company whose focus is exploring for gold on the Superior Province of the Canadian Shield. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
For Investors
This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Vesta cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Vesta currently foresees. Discussion of the various factors that may affect future results is contained in Vesta's recent filings, available on SEDAR.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Thomas F. Morris
President and CEO
Tel: (416) 703-4830
Fax: (416) 703-5391
e-mail: info@nsuperior.ca
www.nsuperior.com
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Northern Superior Resources Inc.
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EXPLORATION STAGE |
CODE : SUP.V |
ISIN : CA6658041000 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Northern Superior Resources is a gold exploration company based in Canada. Northern Superior Resources holds various exploration projects in Canada. Its main exploration properties are BACHELOR LAKE, WACHIGABAU, THORNE LAKE, NORTH THELON URANIUM JV, VILLE MARIE DIAMOND, TI-PA-HAA-KAA-NING (TPK) and LESPERANCE in Canada. Northern Superior Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 197.5 millions as of today (US$ 157.9 millions, € 148.1 millions). Its stock quote reached its highest recent level on September 19, 1997 at CA$ 9.60, and its lowest recent point on February 12, 2016 at CA$ 0.01. Northern Superior Resources has 318 489 984 shares outstanding. |