TSX - QGX
WATERDOWN, ON, June 22 /CNW Telbec/ - QGX Ltd. (TSX: QGX) is pleased to
announce that that at its annual and special meeting held on June 20, 2007,
shareholders approved the adoption by QGX of a shareholder rights plan.
Details regarding the shareholder rights plan are set forth in the management
proxy circular of QGX dated May 14, 2007, a copy of which has been filed and
is available from the SEDAR website at www.sedar.com.
The objectives of the shareholder rights plan are to ensure, to the
extent possible, that all shareholders are treated equally and fairly in
connection with any take-over bid or similar proposal to acquire common shares
of the Company. The plan was not adopted in response to, or in anticipation
of, any known proposal to acquire control of QGX.
The plan has been implemented and is effective immediately pursuant to
the terms and conditions of a Shareholder Rights Plan Agreement between QGX
and Computershare Trust Company of Canada, as rights agent. The complete text
of this agreement will be filed and available from the SEDAR website at
QGX is a Canadian-based company that has been exploring for mineral
deposits in Mongolia since 1994. QGX's two most advanced properties are the
Baruun Naran and the Golden Hills projects. QGX announced on June 13th an
independent NI 43-101 resource for metallurgical and thermal coal at Baruun
Naran comprised of 93.3 Mt of measured and 159.6 Mt of indicated (252.9 Mt
contained in measured and indicated) resources. QGX filed in April 2007 an
independent NI 43-101 report outlining a positive preliminary economic
assessment for its copper-gold-silver project at Golden Hills. Barrick Gold
Corp. holds an approximate 9% equity interest in QGX as part of a strategic
relationship between the two companies.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: David Anderson, Executive Chairman, (905)
689-9442; Paul Zweng, President/CEO, (925) 855-0505, or visit our website at
www.qgxgold.com; Renmark Financial Communications Inc.: John Boidman:
email@example.com; Maurice Dagenais:
firstname.lastname@example.org; Media - Adam Ross: email@example.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com