VANCOUVER, March 21, 2013 /CNW/ - Northcliff Resources Ltd.
("Northcliff" or the "Company") (TSX:NCF) announces that its Board of
Directors has resolved to adopt a customary Shareholder Rights Plan
Agreement (the "Rights Plan"). The Rights Plan is being adopted to
help ensure the fair treatment of all Northcliff shareholders in
connection with any take-over bid for the outstanding common shares of
Northcliff. The Rights Plan will provide shareholders with additional
time to properly evaluate and assess a take-over bid and gives the
Board additional time to consider possible alternative transactions in
order to maximize shareholder value.
The Rights Plan is similar to other plans adopted by many Canadian
companies. It is not being adopted in response to any proposal to
acquire control of Northcliff.
Although the Rights Plan is currently subject to approval by the Toronto
Stock Exchange, it will be presented for ratification by the
shareholders at the Northcliff annual meeting to be held on April 18,
2013. A copy of the proposed form Rights Plan is attached to the
information circular being mailed to shareholders in connection with
the April 18, 2013 meeting. It will be filed at www.SEDAR.com in the next few days along and a detailed description of its terms and
conditions will also be included in the information circular. If
ratified by shareholders, the Rights Plan will have a term of three
Northcliff is a mineral resource company associated with Hunter
Dickinson Inc. (HDI), and focused on progressing the Sisson
Tungsten-Molybdenum Project located in New Brunswick, Canada, to
President & CEO
No regulatory authority assumes any responsibility for the adequacy or
accuracy of this release.
For further information, investors should review the Company's filings
that are available at www.sedar.com.
SOURCE: Northcliff Resources Ltd.
For further information:
For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.