(TheNewswire)
Vancouver, BC – November 12, 2024 – TheNewswire – Baru Gold Corp (the “Company” or “Baru”) announced that its Board of Directors has approved a new shareholder rights plan (the “Plan”) pursuant to a shareholder rights agreement between the Company and Computer Trust Company of Canada as rights agent, effective immediately, the shareholders of the Company. The Plan has been adopted to ensure the fair treatment of all shareholders in connection with any take-over bid for the Company. The Plan is not being adopted in response to any specific proposal to acquire control of Baru, nor is the Board of Directors aware of any pending or threatened take-over bid for Baru.
On the effective date, at the close of business day, one right will be issued and attached to each common share of the Company outstanding at such time. The rights will automatically attach to the common shares of Baru (the “Common Shares”) and no further action will be required by shareholders. A right will also automatically attach to each Common Share of Baru issued hereafter.
Subject to the terms of the Plan and to certain exceptions provided therein, the rights will become exercisable in the event that any person, together with joint actors, acquires or announces its intention to acquire twenty percent (20%) or more of the Company’s outstanding Common Shares without complying with the “Permitted Bid” provisions of the Plan or in circumstances where the application of the Plan is waived in accordance with its terms.
The Plan has been conditionally approved by the TSX Venture Exchange and is subject to the ratification by the shareholders of the Company within six months of its effective date. The Board intends to recommend the ratification of the Rights Plan for approval by its shareholders at the Company’s next annual meeting of shareholders, which will be held on December 31, 2024. If ratified by shareholders, the Plan will have an initial term of three (3) years. If the Plan is not ratified by the Company’s shareholders at the annual meeting of shareholders, then the Plan and all rights issued thereunder will terminate and cease to be effective at that time.
ABOUTBARUGOLD
BaruGoldisadynamic juniorgolddeveloper withNationalInstrument43-101goldresourcesin Indonesia,oneofthetop10gold-producing countries intheworld.BasedinIndonesiaandNorth America,Baru'steamboastsextensiveexperienceinstartingandoperatingsmall-scalegoldassets.
BARU GOLDCORP
Per:“Terry Filbert”
TerryFilbert,Director
President&CEO
info@barugold.com
For investorcontactsmoreinformation,pleasecontact:
KevinShumInvestor Relations kevin@jeminicapital.com
647-725-3888 ext.702
NeitherTSXVentureExchangenoritsRegulation ServicesProvider(asthattermisdefinedinthe policiesoftheTSXVentureExchange)acceptsresponsibilityfortheadequacyoraccuracyofthis release.
Certainstatements inthisNewsRelease,whicharenothistoricalinnature,constitute“forwardlooking statements”withinthemeaning ofthatphraseunderapplicableCanadian securities law.Thesestatements include,butarenotlimitedto,statementsorinformationconcerningfutureworkprograms,resultsand timingof anyworkprograms,theCompany’sperformanceor eventsas ofthedatehereof.Thesestatements reflectmanagement’s currentassumptionsandexpectationsandbytheirnaturearesubjecttocertain underlyingassumptions, knownandunknownrisksanduncertainties andotherfactorswhichmaycause actualresults,performance oreventstobemateriallydifferentfromthoseexpressedorimpliedbysuch forwardlookingstatements.Thoserisksincludetheinterpretation ofdrillresults;thegeology,gradeand continuityofmineraldeposits;thepossibilitythatfutureexploration,developmentorminingresultswillnot beconsistentwithourexpectations; commodity andcurrencypricefluctuation; failuretoobtainadequate financing;regulatory, recoveryrates,refinerycosts,andotherrelevantconversionfactors,permittingand licensingrisks;generalmarketandminingexplorationrisksandproduction andeconomicrisksrelatedto designandengineering,manufacturing, technologicalprocessesandtestproceduresandtheriskthatthe project’soutputwill not besalableatapricethatwillcovertheproject’soperatingandmaintenancecosts. Forward-looking statementsshouldnotbeconstruedasinvestmentadvice.Readersshouldperforma detailed,independent investigation andanalysisoftheCompany andareencouragedtoseekindependent professional advicebeforemakinganyinvestmentdecision.Accordingly, readersshouldnotplaceundue relianceonanyforward-lookingstatement.Exceptasrequiredbyapplicablesecuritieslaws,theCompany disclaims anyobligation toupdateorreviseanyforwardlookingstatementstoreflecteventsorchangesin circumstancesthatoccurafterthedatehereof.
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