VANCOUVER, Feb. 7, 2012 /CNW/ - Gold Bullion Development Corp.
(TSXV:GBB) (OTCPINK:GBBFF) ("Gold Bullion" or the "Company") is pleased
to announce that it has adopted a shareholder rights plan (the "Rights
Plan") designed to encourage the fair treatment of its shareholders in
the event of an unsolicited take-over bid for shares of the Company.
The Rights Plan is designed to give the Company's shareholders
sufficient time to properly assess a take-over bid without undue
pressure and to give the Company's Board of Directors time to consider
alternatives that allow the Company's shareholders to receive full and
fair value for their common shares.
Pursuant to the Rights Plan, each holder of record of the outstanding
common shares of the Company on February 1, 2012 will be issued one
right per common share. The rights will trade with the common shares
and be represented by the certificates representing common shares.
Although the Rights Plan is effective immediately, it is subject to TSX
Venture Exchange approval and must be ratified by the shareholders of
the Company within six (6) months of its adoption. The Rights Plan will
be submitted to the shareholders of the Company for ratification at the
Annual General and Special Meeting of Shareholders to be held April 12,
A copy of the Rights Plan is posted and available for viewing on http://sedar.com/.
The Rights Plan is similar to shareholder rights plans adopted by
numerous other Canadian corporations. Neither the Board nor senior
management of the Company is aware of any current, pending or
threatened take-over bid for the Company.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural
resource company focusing on the exploration and development of its
Granada Property near Rouyn-Noranda, Québec.
For more information on Gold Bullion Development Corp. (TSXV:GBB)
(OTCPINK:GBBFF), visit our web site: www.GoldBullionDevelopmentCorp.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements.
SOURCE Gold Bullion Development Corp.
For further information:
Frank J. Basa, P.Eng., President and Chief Executive Officer, Tel: (514) 397-4000
Progressive Investor Relations (Canada) Tel (604) 689-2881 or email email@example.com