Amarillo Shareholders Approve Rights Plan; Company Grants Options
18 Juillet 2011 - 3:31PM
Marketwired
Amarillo Gold Corp. (TSX VENTURE: AGC) ("Amarillo" or the
"Company"), announces that its Shareholder Rights Plan was
unanimously approved by shareholders voting at the Company's Annual
General Meeting held on July 7th. The Rights Plan was described in
the Information Circular accompanying the Notice of Meeting. The
sole purpose of the Plan is to ensure the fair treatment of all
Amarillo shareholders in connection with any possible take-over bid
for the Company. The Plan does so by allowing shareholders adequate
time to evaluate any such bid, and by providing the Board with an
additional 60 days beyond the legal minimum period of 35 days to
consider any such bid and, if applicable, to explore alternative
transactions in order to maximize shareholder value.
Separately, the Company granted Incentive Stock Options to
purchase up to 2,520,000 common shares of Amarillo to directors,
officers and consultants.
The exercise price of these options has been set at $1.50 and
the options expire 2 years after the date of grant.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.
Per: Buddy Doyle, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Amarillo Gold Corp. Buddy Doyle President
1-604-689-1799 1-604-689-8199 (FAX) www.amarilloqold.com
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