Adriana Adopts Shareholder Rights Plan
Adriana Resources Inc. ("Adriana" or the
"Company") -- (TSX-V: ADI, WKN: A0F7EL) announces that
its Board of Directors has approved the adoption of a Shareholder Rights
Plan Agreement (the "Rights Plan"). The Rights Plan is being
adopted to ensure the fair treatment of all Adriana shareholders in the
event of any unsolicited take-over bid for the outstanding common shares of
Adriana. The Rights Plan will provide shareholders with adequate time to
properly evaluate and assess a take-over bid and ensure a proposed
transaction is in the best interest of all shareholders. The Rights Plan
also provides the Board with additional time to consider any take-over bid
and, if applicable, to pursue alternatives in order to protect, preserve
and maximize shareholder value. In addition, it would allow time for
competing bids to emerge.
The Rights Plan is not designed to prevent take-over bids that treat
Adriana shareholders fairly. The rights issued under the Rights Plan become
exercisable only when a person, together with any party related to it or
acting jointly with it, acquires or announces the intention to acquire 20%
or more of Adriana's outstanding common shares without complying with the
"Permitted Bid" provisions of the Rights Plan or without the
approval of the Board of Directors.
Any bid that meets certain criteria intended to protect the interests of
all shareholders are deemed to be "Permitted Bids". A Permitted
Bid must be made by way of a take-over bid circular prepared in compliance
with applicable securities laws and, in addition to certain other conditions,
must remain open for 60 days. In the event a take-over bid does not meet
the Permitted Bid requirements of the Rights Plan, the rights issued under
the plan will entitle shareholders (other than any shareholder or
shareholders involved in the take-over bid) to purchase additional common
shares of Adriana at a significant discount to the market price of the
common shares at that time.
The Company is not aware of any pending or threatened take-over bid or
proposal to acquire control of the Company. The Rights Plan is similar to
those adopted by other Canadian listed companies and is consistent with
Canadian corporate practices.
The Rights Plan, which is effective immediately, is subject to approval by
the TSX Venture Exchange and will be presented for ratification by the
Company's shareholders at its Annual and Special General Meeting to be held
on April 30, 2008. If ratified by shareholders, the Rights Plan will
terminate on the third anniversary of the 2008 annual meeting of
shareholders.
The full text of the Rights Plan is available in the Company's profile on
www.sedar.com and can also be obtained from Adriana upon written request.
About Adriana Resources Inc.
Adriana's goal is to become a fully integrated iron ore producer through
continued development of its iron ore port facility in Brazil, through
acquisition of iron ore mineral resources in Brazil, and the advancement of
the Lac Otelnuk Iron Project in Quebec, Canada.
For more information, contact Robert Ferguson or Ali Sinawi at (604)
629-0250 or toll free at (877) 629-0150 or visit the Company's website at
www.adrianaresources.com.
ON BEHALF OF ADRIANA RESOURCES INC.
"Michael J. Beley"
President
Certain information regarding the Company including management's assessment
of future plans and operations, may constitute forward-looking statements
under applicable securities laws and necessarily involve risks associated
with mining exploration and development, volatility of prices, currency
fluctuations, imprecision of resource estimates, environmental risks,
access to labour and services, competition from other companies and ability
to access sufficient capital. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements. The
TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.

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Suite 1818 - 701 West Georgia St
Vancouver, BC
Canada V7Y 1C6
Telephone: 604.629.0250
Fax: 604.629.0923
Toll Free: 877.629.0150
Email:
info@adrianaresources.com
 
(TSX-V: ADI)
 
Apr 08, 2008: News Releases: Adriana Adopts Shareholder
Rights Plan (more...)
Apr 03, 2008: News Releases: Adriana Reports Results at
Lac Otelnuk - Drills 95... (more...)
Apr 02, 2008: News Releases: Adriana Appoints Paul Yeou to
the Board of Directo... (more...)
Mar 25, 2008: News Releases: Adriana Acquires Labrador
Trough Iron Prospect (more...)
 




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