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Freegold
Ventures Limited (TSX -- FVL; Frankfurt:
FR4N) (the "Company"): The Company
announces that its Board of Directors
has approved and adopted a Shareholders
Rights Plan (the "Plan"). The Plan
entitles shareholders to severable
rights to purchase additional shares of
the Company upon the occurrence of a
take-over bid (i.e. an offer to purchase
20% or more of the issued shares, when
aggregated with the offeror's
shareholdings), which fails to meet
certain conditions. Bids which meet
these conditions ("Permitted Bids") do
not trigger the rights to purchase
additional shares. Permitted Bids are
offers which meet all of the following
conditions:
1. The offer is made to all shareholders
and includes shares issuable upon
exercise of share purchase warrants,
stock options and other convertible
securities;
2. The offer must contain an irrevocable
and unqualified provision that no shares
will be taken up or paid for prior to
the close of business on a date less
than 60 days following the date of the
Bid, and only if at such date more than
50% of the shares held by independent
shareholders have been deposited or
tendered and not withdrawn;
3. The offer must contain an irrevocable
and unqualified provision that any share
deposited may be withdrawn at any time
until being taken up and paid for; and
4. The offer must contain an irrevocable
and unqualified provision that if the
deposit conditions set out in item 2
above are met, then the offeror will
make a public announcement of that fact,
and the bid will remain open for
deposits or tenders of additional shares
for not less than 10 business days from
the date of the public announcement.
The Plan is designed to ensure that all
shareholders are treated fairly and
equitably in the event of a take-over
bid.
The Plan is subject to the acceptance of
regulatory authorities, ratification by
the shareholders of the Company, and the
acceptance of the rights agent.
About Freegold Ventures Limited
Freegold is a TSX listed company focused
on the exploration of gold projects in
Alaska. In addition to the Golden Summit
Gold Project, the company holds a 100%
in lease interest in the Rob Gold
Project near the Pogo Gold Mine in the
Goodpaster Mining District of Alaska and
has an exploration agreement with option
to lease the Vinasale Gold project in
central Alaska.
Kristina
Walcott-President and CEO
Telephone:
1.604.662.7307
jkw@freegoldventures.com
Some statements in this
news release contain forward-looking
information, including without
limitation statements as to planned
expenditures and exploration programs.
These statements address future events
and conditions and, as such, involve
known and unknown risks, uncertainties
and other factors which may cause the
actual results, performance or
achievements to be materially different
from any future results, performance or
achievements expressed or implied by the
statements. Such factors include without
limitation the completion of planned
expenditures, the ability to complete
exploration programs on schedule and the
success of exploration programs
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