VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2012) - Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") is pleased to announce that the board of directors of the Company has adopted a shareholder rights plan, effective June 18, 2012. The objective of the rights plan is to ensure, to the extent possible, that all shareholders of the Company are treated equally and fairly in connection with any initiative to acquire control of the Company.
The rights plan is not intended to and will not prevent a take-over of the Company. The purpose of the rights plan is to encourage a potential bidder to make a "Permitted Bid", having terms and conditions designed to meet the objectives of the rights plan, or to negotiate the terms of an offer with the board of directors of the Company. A Permitted Bid is a take-over bid that is made to all holders of voting shares of the Company (other than the bidder) for all of the voting shares held by them, by way of a take-over bid circular prepared in compliance with applicable securities laws, that remains open for acceptance by shareholders of the Company for 60 days (or such shorter period of time as may be approved by the board of directors of the Company from time to time), and that satisfies certain other conditions.
The TSX Venture Exchange has advised that it has not objected to the adoption of the rights plan by the Company, subject to shareholder approval of the rights plan within six months of its effective date. The Company currently intends to seek shareholder approval of the rights plan at its next annual meeting, scheduled for August 27, 2012.
The Company is not aware of any specific take-over bid for the Company that has been made or is contemplated.
A complete copy of the rights plan is available upon request. Shareholders wishing to receive a copy of the rights plan should make their request by telephone at (604) 669-8055, by email at mtovar@mundoro.com or by mail to Mundoro Capital Inc., #1401 - 1030 West Georgia Street, Vancouver, BC V6E 2Y3, Attention: Ms. M. Tovar.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company's target exploration areas are the Tethyan belt in South Eastern Europe and the Mesa Central Belt in Mexico, both of which are mineral belts the Company believes have strong exploration potential. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc.
Caution Concerning Forward-Looking Statements
Investors are encouraged to review 'Risk Factors' as outlined in the Company's disclosure documents and other regulatory filings, available on the SEDAR website at www.sedar.com.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Teo Dechev
CEO, President and Director
+1-604-669-8055
+1-604-669-8056 (FAX)
info@mundoro.com
www.mundoro.com