SOURCE: Hunt Gold Corporation

July 08, 2008 11:52 ET

Hunt Gold Corporation - Update on Change of Control

Company Confirms That Company Is Definitely the Subject of a Takeover Bid

NEW YORK, NY--(Marketwire - July 8, 2008) - Hunt Gold Corporation (PINKSHEETS: HGLC) confirmed on July 7, 2008 that its Board of Directors has 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.

To date, the Board has been informed that the Investment Groups now vote in excess of 42.9% of the Company's shares of outstanding Common Stock.

The Board of Directors must now assume that these Investment Groups will assume voting control of the Company within days.

These Investment Groups and other significant stockholders in the Company are absolutely determined to extract value from the Company and to eliminate the discount between the Company's stock price and its Net Asset Value per share.

These Investment Groups are not seeking to acquire in excess of 75% of the Company's shares of outstanding Common Stock.

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


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