Offers to Purchase up to 26,463 Shares of its Common Stock at $188.94 per Share
PR Newswire
PHILADELPHIA, Aug. 17, 2018
PHILADELPHIA, Aug. 17, 2018 /PRNewswire/ -- Pardee Resources
Company (OTC: PDER) (the "Company") announced today the commencement of an offer to purchase up to 26,463 shares of its
outstanding common stock at a purchase price of $188.94 per share (the "Offer"). The Offer is
being made on the terms and subject to the conditions set forth in the Purchase Offer Memorandum being mailed to all
shareholders. The Offer will expire at midnight, Eastern time, on September 24, 2018 unless earlier
terminated or extended by the Company.
The Company's Board of Directors has approved the Offer. However, neither the Company's Board nor its management makes any
recommendation regarding how shareholders should respond to the Offer.
This announcement is not a recommendation, an offer to purchase or a solicitation to sell any securities of the Company. The
Offer is being made only by a Purchase Offer Memorandum, a related Letter of Transmittal and other documents that the Company has
begun distributing to shareholders as of August 17, 2018. Shareholders should read carefully the
Purchase Offer Memorandum and related materials because they contain important information, including various terms and
conditions of the Offer, and should consult their own investment and tax advisors.
This press release may contain certain forward-looking statements, including statements with regard to future events or the
future performance or operation of the Company. These statements are "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future
expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual
developments and results to differ materially from our expectations. These factors include, but are not limited to: changes in
the economy, risks associated with possible disruption in the Company's operations or the economy generally due to terrorism or
natural disasters, future changes in laws or regulations and conditions in the Company's operating area, the ability to complete
the Offer, and the price at which shares of common stock may trade on the over-the-counter market in the so-called "pink sheets",
which may be higher or lower than the purchase price in the Offer. As a result, these forward-looking statements may turn out to
be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking
statements whether as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/pardee-resources-company-announces-commencement-of-tender-offer-300698829.html
SOURCE Pardee Resources Company