(TheNewswire)
J uly 2 5 , 20 2 3 – TheNewswire - Vancouver, BC -Baru Gold Corp (the “ Company” or “Baru ”) (TSXV:BARU) (OTC:BARUF) announced thatits Board of Directors has approved a new shareholder rights plan (the“ Plan ”) pursuant to a shareholder rights agreement between theCompany and Computer Trust Company of Canada as rights agent,effective immediately, the shareholders of the Company. The Plan hasbeen adopted to ensure the fair treatment of all shareholders inconnection with any take-over bid for the Company. The Plan is notbeing adopted in response to any specific proposal to acquire controlof Baru Gold, nor is the Board of Directors aware of any pending orthreatened take-over bid for Baru Gold.
On the effective date, at the close of business today,one right will be issued and attached to each common share of theCompany outstanding at such time. The rights will automatically attachto the common shares of Baru Gold (the “ Common Shares ”) andno further action will be required by shareholders. A right will alsoautomatically attach to each Common Share of Baru Gold issuedhereafter.
Subject to the terms of the Plan and to certainexceptions provided therein, the rights will become exercisable in theevent that any person, together with joint actors, acquires orannounces its intention to acquire 20 percent or more of theCompany’s outstanding Common Shares without complying with the“Permitted Bid” provisions of the Plan or in circumstances wherethe application of the Plan is waived in accordance with its terms.
The Plan has been conditionally approved by the TSXVenture Exchange and is subject to the ratification by theshareholders of the Company within six months of its effective date.The Board intends to recommend the ratification of the Rights Plan forapproval by its shareholders at the Company’s next annual meeting ofshareholders, which will be held prior to December 31, 2023. Ifratified by shareholders, the Plan will have an initial term of threeyears. If the Plan is not ratified by the Company’s shareholders atthe annual meeting of shareholders, the Plan and all rights issuedthereunder will terminate and cease to be effective at that time.
The Company also wishes to advise that each finder’swarrant issued in connection with the closing of the financingannounced on June 22, 2023, shall be exercisable for one common sharein the capital of the Company for 2 years from the date such warrantis issued at an exercise price of $0.05 for the first year and $0.10for the second year. Specifically, 14,000 finder’s warrants shallexpire on June 23, 2025.
AB O UT B A RU G OLD
Baru G o l d i s a dyna m i c j un i or go l d deve l op e r w it h N a ti o n al Ins t ru m ent 43-101 go l d resourc e s i n Indones i a, o ne of t he to p 10 go l d-produc i ngcoun t r i es i n t he w or l d. Ba s ed i n Indones i a and N or t h A m e ri ca, Ba r u ' s t eam b o as t s e x t en s i v e expe r i ence i n s t a r t i ng a nd opera t i ng s m a ll -sca l e go l d ass e t s.
BA R U GO LD CORP
Per : “Terry Fil b er t ”
Terry F i lbe r t, D ire c tor
Preside n t & CEO
For invest o r conta c ts m o re in f or m ation, please c ontac t :
K ev i n Sh u m Invest o rRe l ations kevin@je m inicap i tal . c o m
647-725-3 8 88 ext 702
Neither TSX Venture E x ch a n g e n o r its Re g ul a ti o n Servic e s Pr o vi d er ( a s th a t term is d efined in t h e po licies o f the TSX Ve n ture E x ch a n g e) a cce p ts res po nsi b ility f o r the ad e q u a cy o r a ccur a cy o f t h is rele a se.
Cert a in st a t e me n ts in t h is News R ele as e, w h ich a re no t h ist o ric a l in na t u re, c on stit u te “f o r w a rd l oo ki ng st a teme n ts” wit h in t h e m ean i n g o f t ha t ph r a se und er app lic ab le C anad i a n sec u rities l a w. T h ese st a teme nt s i n cl ud e, bu t a re no t limited t o , st a te m e n ts o r i n f or m a ti o n c on cer n i n g f u t u re w o rk p r og r a ms, r es u lts a nd timi n g o f an y w o rk p r og r a ms, t h e C o m p an y’s p erf or m an ce o r e v en ts a s o f t h e da te h ere o f. T h ese st a te m e n ts reflect m anag eme n t’s c ur re n t a ss u m p ti on s a n d ex p ect a ti on s an d b y t h eir na t u re a re s ub ject to cert a in und erlyi n g a ss u m p ti on s, kno wn an d un k no wn risks an d un cert a i n ties an d o t h er f a ct o rs w h ich m a y c aus e a ct ua l res u lts, p erf o rm an ce o r eve n ts to b e m a teri a l ly d iffere n t fr o m t ho se ex p res s ed o r im p lied b y s u ch f o rw a rd l oo k i n g st a teme n ts. T ho se risks i n cl ud e t h e i n ter p ret a ti o n o f d rill res u lts; t h e g e o l o g y, g r ad e a n d c on ti nu ity o f mi n er a l d e p o sits; t h e po ssi b ility t ha t f u t u re ex p l o r a ti on , d evel op me n t o r mi n i n g res u lts will not b e c on siste n t with ou r ex p e ct a ti on s; c o m m od ity a n d c u rre n cy p rice fl u ct ua t i on ; f a il u re to ob ta in a d e quat e fi nan ci n g ; re gu l a t o ry, rec o very r a t e s, refi n ery c o sts, an d o t h er relev an t c on versi o n f a ct o rs, p ermitti n g a n d lice n si n g ris k s; g e n er a l ma rket an d mi n i n g ex p l o r a t i o n risks an d p r odu cti o n a n d ec ono mic risks rel a ted to d esi g n a n d e ng i n eeri ng , m anu f a ct u ri n g , tec hno l og i c a l p r o cesses an d test p r o ce du res an d t h e risk t ha t t he p r o ject’s ou t pu t will no t b e s a l ab le a t a p rice t ha t w i ll c o ver t h e p r o ject’s op e ra ti n g a n d m a i n te nan ce c o sts. F o rw a r d -l o o ki n g st a teme n ts s hou l d n o t b e c o n str u ed a s i n vestme n t ad vice. Re ad ers s hou ld p erf o rm a d et a ile d , i nd e p e nd e n t i n vesti ga ti o n an d ana lysis o f t h e C o m pan y a n d a re e n c ou r ag ed to se e k i nd e p e nd e nt p r o fessi ona l ad vice b ef o re m a ki n g an y i n vestme n t de cisi on . Acc ord i ng ly, re ad ers s hou ld no t p l a ce und u e reli an ce o n a n y f o rw a rd-l o o ki n g st a teme n t. Exce p t a s re qu ired b y app lic ab le sec u rities l a ws, t h e C o m pan y d iscl a ims an y ob l i ga ti o n to up d a te o r revise an y f o rw a rd l oo ki n g s t a teme n ts to reflect e v e n ts o r c hang es i n circ u mst an c e s t ha t o cc u r a fter t h e da te h ere o f.
Copyright (c) 2023 TheNewswire - All rights reserved.