Frontier Pacific says do not respond to Eldorado bFrontier Pacific says do not respond to Eldorado bid
Frontier Pacific Mining Corp (C:FRP)
Shares Issued 164,567,154
LastClose 5/8/2008 $0.95
Friday May 09 2008 - News Release
Also Eldorado Gold Corp (C:ELD) News Release
An anonymous director of Frontier reports
FRONTIER PACIFIC RESPONDS TO UNSOLICITED TAKEOVER BID AND RECOMMENDS TOSHAREHOLDERS NO ACTION BE TAKEN
Frontier Pacific Mining Corp. has been advised that on May 9, 2008, EldoradoGold Corp. formally commenced an unsolicited offer to purchase all of theoutstanding common shares of the company, other than those already owned byEldorado.
To assist the Frontier Pacific board of directors in fulfilling its fiduciaryduties, a special committee of independent directors ("Special Committee")consisting of Victor Bradley (Chair), Ross McDonald and Dr. Stewart Blusson hasbeen formed. Thomas Weisel Partners has been engaged to provide independentfinancial advice regarding the Eldorado bid and the Company's strategicalternatives. The Special Committee has retained Georgeson to assist it in itscommunications with Frontier Pacific shareholders. Legal counsel for FrontierPacific is Blake, Cassels and Graydon LLP.
The Eldorado offer will remain open until June 17, 2008. Accordingly,Frontier Pacific will carefully review and consider the Eldorado bid with theassistance of its independent advisors. The board of directors will issue aresponse in which the board will provide its recommendation to shareholdersregarding the Eldorado bid. Frontier Pacific shareholders are urged NOT TO TAKEANY ACTION in relation to the Eldorado offer until the board has had theopportunity to fully evaluate the offer. The board of directors of FrontierPacific will make a formal recommendation to its shareholders on or before May26, 20