Glamis Responds to Unsolicited Tender Offer.Business Editors RENO, Nevada--(BUSINESS WIRE)--Aug. 5, 2002 Glamis Gold Glamis Gold Ltd. was a Reno, Nevada based gold producer with operations in the Americas. In 2006 they expected to produce 620,000 ounces of gold at a total cash cost of US$190 per ounce. They remained 100% unhedged. On 31 August 2006, Goldcorp acquired Glamis Gold for $8. Ltd. (NYSE NYSE See: New York Stock Exchange : GLG GLG Geology GLG Ganz Liebe Grüße (German) GLG Grocery List Generator GLG Glamis Gold Ltd (stock symbol) GLG Goofy Little Grin GLG Goodrich Landing Gear )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : GLG) has been notified that on August 1, 2002, TRC TRC Noun (in South Africa) Truth and Reconciliation Commission: a commission which encourages people who committed human rights abuses or acts of terror during the apartheid era to reveal the truth about their crimes in return for immunity from prosecution Capital Corporation ("TRC") made an unsolicited tender offer to purchase up to 3,500,000 Common Shares of the Company, or 3.2% of Glamis' common shares. The tender offer is at a price of Cdn $11.25 per share, a 12.3% discount to the August 2, 2002 closing price of Cdn $12.83 per share on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Glamis wishes to inform its shareholders that does not recommend or endorse this unsolicited offer and that the Company is in no way associated with TRC. TRC, based in Canada, recently has made a number of similar unsolicited mini-tender offers for stock of other companies that have recommended to shareholders that they reject the offer. Shareholders are advised that TRC has reserved the right to withdraw its offer at any time, to delay payment for common shares tendered and to amend its offer in any respect. TRC may also decline to purchase common shares tendered if TRC so chooses for any reason, including in the event that the offer price exceeds the market price of the common shares. Shareholders who are considering selling their shares are cautioned to consult their own financial advisors prior to accepting this offer. Mini-tender offers typically do not provide the same disclosure and procedural protections that larger traditional tender offers provide. The U. S. Securities and Exchange Commission (SEC) has issued an investor alert regarding mini-tender offers that can be accessed at the SEC web site at: www.sec.gov/investor/pubs/minitend.htm Glamis Gold Ltd. is a premier intermediate gold producer with low-cost mines in Nevada, California and Honduras. The Company remains debt free and unhedged. Glamis' strategic goal is to increase annual gold production to 500,000 ounces at a total cash cost of below $150 per ounce. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion