RE: will seeVery much doubt it...- sore losers resorting to scare tactics again. I'm sure highlighted area below is their sad attempt to scare off CNNC too?!?!
Khan suitor ARMZ will not extend takeover offer
2010-02-26 10:50 ET - News Release
Mr. Vadim Zhivov of JSC reports
JSC ATOMREDMETZOLOTO ANNOUNCES THAT IT WILL ALLOW ITS OFFER TO ACQUIRE KHAN RESOURCES TO EXPIRE
JSC Atomredmetzoloto (ARMZ) will not increase or extend its offer to acquire all of the outstanding common shares of Khan Resources Inc. The offer, which provides for all-cash consideration of 65 cents per Khan share is set to expire at 5 p.m. (Toronto time) on March 1, 2010.
The decision by ARMZ to allow its offer to expire comes as a result of an announcement issued on Feb. 23, 2010, by a working group established by the Security and Foreign Policy Standing Committee of the State Great Khural, the Mongolian Parliament, that it has concluded that a number of uranium exploration and exploitation licences in Dornod province, including licences pertaining to the Dornod uranium property, should be invalidated based on infringements of Mongolian law, including the mineral law and the law on mineral energy.
As a result, ARMZ has decided to allow its offer to expire at its current expiration time of 5 p.m. (Toronto time) on March 1, 2010, at which time the offer will be terminated. ARMZ has instructed CIBC Mellon Trust Company, the depositary for the offer, to promptly return any deposited Khan shares in accordance with the offer.