Supatcha Announces 2nd Unsolicited Bid
DENVER, Dec. 13, 2010 /PRNewswire-FirstCall/ — Supatcha Resources Inc. (OTC Bulletin Board: SAEI) (“Supatcha” or the “Company”) announces today that it has received a second unsolicited bid for 100% of the issued and outstanding shares of the Company at a price of USD$2.50. The unsolicited bid was made by JSC Rustamov Group (JRG) of Moscow, Russia.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Supatcha’s Board of Directors will evaluate the unsolicited bid and will prepare and send a directors’ circular to shareholders regarding the JRG offer in accordance with applicable securities rules on or before December 15, 2010. Shareholders are advised to take no action until the Board provides a formal response to the unsolicited bid. JRG is an investment firm backed by the several prominent and wealthy Russian families, based in Moscow, Russia.
In addition, the previously announced investor conference call for Monday, December 20, 2010 at 7:00 a.m. Eastern Time remains on schedule. The Company will be discussing its 2010 third quarter operations.
To obtain dial-in information and the passcode for the conference call and the replay contact Michael Berry at Tel: (303) 552.0480 or by e-mail at firstname.lastname@example.org. The conference call is scheduled to begin promptly at its appointed time, and all participants should be on the line by then.
The company is preparing a series of updates that will be released in the coming weeks as part of its Investor Awareness Program. Updates on the company via news releases, the website, newsletter programs and conference calls will facilitate timely updates to current and potential investors. Investors are encouraged to sign onto the company site and register for the newsletter mailing list, to be included in this program.
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains “forward-looking statements”, as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Supatcha Resources Inc.