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Kutcho Copper Corp.
Summary
| Project: | Kutcho | |
|---|---|---|
| Deposit: | Kutcho | |
| Location: | United States | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 10/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-10-2018: Kutcho Copper Corp. announces an Exploration/Drilling Update report for its Kutcho deposit at the Kutcho project. Clarified drill results in previous announcement. Vancouver, B.C., October 19, 2018. Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rory Kutluoglu (Internal) | |
| ABSTRACT: | Vancouver, B.C., October 19, 2018. Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) today announced that its board of directors (the “Board”) has approved the adoption of a Shareholders Rights Plan (the “SRP”) pursuant to a shareholder rights plan agreement entered into with Computershare Investor Services Inc. dated October 18, 2018. The SRP will be submitted for ratification by the Company’s shareholders at the annual and special meeting scheduled to be held on November 15, 2018. If the SRP is not ratified by the Company’s shareholders, it will automatically terminate. If ratified by shareholders, the SRP will remain in effect until the close of business on the third anniversary of the date of such ratification. The SRP has been adopted to ensure, to the extent possible, that all shareholders of the Company are treated fairly and equally in connection with any unsolicited take-over bid or other acquisition of control of the Company, and that the Board is provided with adequate time to consider and evaluate such a take-over bid or other acquisition and, if appropriate, identify, develop and negotiate any value-enhancing alternatives. Furthermore, the SRP will allow the Board to pursue, if appropriate, other alternatives to maximize shareholder value and to allow additional time for competing bids to emerge. The SRP is not being adopted in response to any specific proposal to acquire control of the Company, nor is the Board aware of any pending or threatened take-over bid for the Company. The SRP is similar to rights plans adopted by other public companies. Under the terms of the SRP, one right will be issued by the Company for each outstanding common share of the Company and for each common share of the Company issued in the future (subject to the terms of the SRP). The rights issued under the SRP become exercisable only if a person, together with its affiliates, associates and joint actors, acquires or announces its intention to acquire 20% or more of the common shares of the Company without complying with the “Permitted Bid” provisions of the SRP or without the approval of the Board. At any time prior to the rights becoming exercisable, the Board may waive the operation of the SRP with respect to certain events before they occur. | |
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