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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: Adopts Shareholder Rights Plan
| May 4, 2009 |
| ECU Silver Adopts Shareholder Rights Plan |
| TORONTO, ONTARIO--(Marketwire - May 4, 2009) - ECU Silver Mining Inc. ("ECU Silver" or the "Company") (TSX:ECU) announced today that its Board of Directors has adopted a shareholder rights plan (the "Rights Plan"). The Rights Plan, which took effect May 1, 2009, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company's common shares. The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly. Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be "Permitted Bids" under the Rights Plan. Permitted Bids are offers to acquire common shares of the Company made by way of take-over bid circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days. ECU Silver is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company. The Rights Plan is similar to plans adopted by other Canadian companies. The full text of the Rights Plan will be available under the Company's profile on the SEDAR website at www.sedar.com. Although effective as of May 1, 2009, the Rights Plan is subject to ratification by the Company's shareholders at the upcoming annual meeting of shareholders scheduled to be held on June 4, 2009. If so ratified by shareholders, the Rights Plan must be confirmed at every third annual meeting thereafter. If not so ratified by shareholders, the Rights Plan and all of the Rights outstanding at the time will terminate. The Toronto Stock Exchange has conditionally accepted the Rights Plan, subject to ratification by the shareholders of the Company. ABOUT ECU SILVER ECU Silver is focused on the exploration, development and mining of precious and base metals at its Velardena District Properties in Durango, Mexico. The area is comprised of three properties, the Main Velardena Property, the Chicago Property and the San Diego Joint Venture Property. The properties contain a measured and indicated mineral resource of 40,000,000 silver equivalent ounces and an inferred mineral resource of 391,000,000 silver equivalent ounces. ECU Silver's mission is to become a pre-eminent silver and gold producer through the development of existing and additional potential resources in the Velardena district. |
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