bcMetals Corporation

bcMetals Corporation

November 06, 2006 08:15 ET

bcMetals Makes Application to Securities Commission and Proceeds With Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - bcMetals Corporation (TSX VENTURE:C) announced today that it will make application to the British Columbia Securities Commission for an order to restrain Imperial Metals Corporation ("Imperial") from taking up and paying for the common shares of bcMetals deposited under its offer and not withdrawn on November 2, 2006 and to require Imperial to provide all shareholders with appropriate disclosure and withdrawal rights.

bcMetals believes that Imperial's actions in purporting to take up shares that remained deposited on November 2, 2006 without providing bcMetals' shareholders with a 10 day period in which to exercise withdrawal rights denied bcMetals' shareholders the protections afforded by applicable securities legislation in such situations and as such were in breach of applicable law.

bcMetals is also proceeding with its special meeting of shareholders scheduled for November 30, 2006. At the special meeting, shareholders will be asked to approve, among other matters, the previously announced limited partnership between bcMetals and Global International Jiangxi Copper Mining Company Limited.

Ian Smith, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • bcMetals Corporation
    Ian Smith
    President and Chief Executive Officer
    (604) 683-0140
    (604) 683-0126 (FAX)
    Website: www.bcmetalscorp.com