RE: RE: I would like to answer a question! Alan, this is how extra money may come in with a takeover offer.
Vancouver, Canada, September 10, 2012 – Samaranta Mining Corporation. (“Samaranta” or the
“Company”) announces that its board of directors has approved the adoption of a shareholder rights plan
(the “Rights Plan”) entered into with Computershare Investor Services Inc. as rights agent, effective
September 7, 2012.
The Rights Plan has been adopted to ensure the fair treatment of all shareholders with respect to any
takeover bid for the common shares of the Company. It is designed to provide shareholders with
sufficient time to properly consider a take-over bid without undue time constraints. It will also provide the
board of directors of the Company with additional time for review and consideration of an unsolicited
take-over bid and, if necessary, for the consideration of alternatives.
Under the provisions of the Rights Plan, five rights (each a “Right”) were issued for each common share
outstanding as of September 7, 2012. The Rights will initially be represented by the certificates
representing the common shares of the Company.
Subject to the terms of the Rights Plan and to certain exceptions provided therein, the Rights will become
exercisable in the event any person, together with joint actors, acquires or announces its intention to
acquire 20% or more of the Company’s outstanding shares without complying with the “Permitted Bid”
provisions of the Rights Plan or where the application of the Rights Plan is waived in accordance with its
terms. If a take-over is completed without complying with the requirements of the Rights Plan or where
the application of the Rights Plan is not waived in accordance with it terms, the Rights holders (other than
the acquiring person and its joint actors) will be entitled to purchase additional common shares of the
Company at one-half the prevailing market price at that time.
Samaranta’s board of directors is not aware of any third party currently considering or preparing any
proposal to acquire control of the Company.
The Rights Plan has been accepted by the TSX Venture Exchange and is subject to the approval of the
shareholders of the Company. Samaranta will be presenting the Rights Plan to shareholders for approval
at its upcoming annual general and special meeting being held on October 15, 2012. If ratified by the
shareholders, the Rights Plan will have a term of three years. If the Rights Plan is not approved by
shareholders it will expire upon termination of the shareholders’ meeting.
The Company also wishes to advise that the contact details for its head office have been changed to:
Suite 880 – 580 Hornby Street, Vancouver, BC V6C 3B6; Phone: (604) 558-1080; Fax: (604) 558-1081.
This is possibly why it has not traded past .06 IMO Hope this helps.
Flooring