SOURCE: Hunt Gold Corporation

July 09, 2008 13:25 ET

Hunt Gold Corporation -- Change of Control

Company Confirms That Company Is Now Subject to a Change of Stockholder Control

NEW YORK, NY--(Marketwire - July 9, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed as of July 7, 2008 that its Board of Directors had been informed that certain "activist" Investment Groups have obtained options to acquire significant amounts of the Company's shares of outstanding Common Stock; along with their voting rights.

The Board has accepted that these Investment Groups will now assume voting control of the Company by no later than 12h00 on Friday July 11, 2008.

Given the Company's current stock price and the "senseless" selling of the Company's stock to new record lows, the Board of Directors has agreed to accept the proposals by these Investments Groups; as it is undoubtedly now in the best interest of all stockholders.

These Investment Groups and other significant stockholders in the Company will now force the extraction of value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.

The Board of Directors has been advised that these Investment Groups are not, at this time, seeking to acquire in excess of 75% of the Company's shares of outstanding Common Stock.

Given the current stockholdings of these Investments Groups, it will now be impossible for any other party to prevent these actions by the Groups.

Stockholders will be advised accordingly as your Company's Management becomes aware of further details and developments.

ABOUT HUNT GOLD CORPORATION

Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact Information

  • For further information contact:
    Hunt Gold Corporation
    E Mail: Email Contact
    Telephone: (954) 840-6956
    Contact: Mr. Michael G Saner