RE: VTR Next? 4x4 - "XG had a poison pill adopted just recently......so you never know..."
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wow, YRI actually takes advantage of the low sp of XG..... So, let's see what XG management can do with their SRP (Shareholders Rights Plan).... They just did a PP three months ago at $7.10/share.... I wonder what those people who bought the PP are thinking now? Will they buy more with their SRP?
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Extorre Gold adopts poison pill
2012-05-25 12:39 MT - News Release
Mr. Trevor Mulroney reports
EXTORRE ADOPTS SHAREHOLDER RIGHTS PLAN
Extorre Gold Mines Ltd.'s board of directors has approved the adoption of a shareholder rights plan. The plan is effective as of today but is subject to shareholder ratification within six months in order to remain in place.
The purpose of the plan is to provide shareholders and the company's board of directors with adequate time to consider and evaluate any unsolicited bid made for the company, to provide the board with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid, to encourage the fair treatment of shareholders in connection with any takeover bid for the company, and to ensure that any proposed transaction is in the best interests of the company's shareholders.
Effective May 25, 2012, rights were issued and attached to all Extorre common shares. A separate rights certificate will not be issued until such time as the rights become exercisable. The rights will become exercisable only if a person, together with its affiliates, associates and joint actors, acquires or announces its intention to acquire beneficial ownership of shares which when aggregated with its current holdings total 20 per cent or more of the company's outstanding common shares (determined in the manner set out in the plan), other than by a permitted bid (as described in the plan). Following the acquisition of more than 20 per cent of the Extorre outstanding common shares by any person (and its affiliates, associates and joint actors), except for a permitted bid, each right held by a person other than the acquiring person (and its affiliates, associates and joint actors) would, upon exercise, entitle the holder to purchase Extorre common shares at a substantial discount to their then prevailing market price. Permitted bids under the plan must meet the following conditions, among others: it is made by way of a takeover bid circular prepared in compliance with applicable securities laws, made to all shareholders of the company for all common shares and must remain open for a minimum of 60 days.
A copy of the plan was provided to the Toronto Stock Exchange. The TSX has accepted notice for filing of the plan subject to, among other things, evidence of shareholder approval of the plan within six months and public disclosure of this news release. The company intends to hold a shareholders meeting to approve the plan within six months.
A copy of the plan is available on SEDAR and on the company's web page
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Extorre Gold completes $25-million private placement
2012-03-16 07:31 MT - News Release
Mr. Eric Roth reports
EXTORRE GOLD MINES ANNOUNCES CLOSING OF C$25 MILLION BOUGHT DEAL PRIVATE PLACEMENT FINANCING
Extorre Gold Mines Ltd. has closed the bought-deal private placement financing announced on March 7, 2012. The company has issued 3.53 million common shares at a price of $7.10 per share for gross proceeds of $25,063,000.
Canaccord Genuity Corp. acted as the underwriter of the offering. The underwriter received a cash commission equal to 5 per cent of the gross proceeds raised through the offering.
The net proceeds from the offering will be used for exploration and development of the company's mineral projects in Argentina and for general working capital purposes.
The securities issued with respect to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.