Focus Metals Inc. Adopts a Shareholder Rights Plan
13.01.2012 | Marketwire
OTTAWA, ONTARIO -- (Marketwire) -- 01/13/12 -- Focus Metals Inc. (TSX VENTURE: FMS)(OTCQX: FCSMF)(FRANKFURT: FKC) ('Focus' or the 'Corporation') is pleased to announce that its board of directors (the 'Board') has implemented, as of January 6, 2012, a shareholder rights plan (the 'Plan') to encourage a fair treatment of shareholders, should a take-over bid be made for Focus. The Plan is effective today and will provide the Board and the shareholders, more time to consider unsolicited take-over bids of the Corporation. The Plan is intended to discourage coercive or unfair take-over bids and gives the Board time to pursue alternatives to maximize shareholder value, if appropriate, in the event of an unsolicited take-over bid.The Plan has not been adopted in response to, or in contemplation of, any specific proposal to acquire control of Focus. The Plan is subject to acceptance by the TSX Venture Exchange and must be ratified by the Shareholders at its next annual general meeting scheduled to take place in 2012.
A complete copy of the Plan will be available shortly on SEDAR at www.sedar.com.
About Focus Metals Inc.
Focus Metals Inc. is an emerging mid-tier junior mining company, a technology solutions supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resource in the world. The company's goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Metals is invested in the development of graphene applications and patents through Grafoid Inc.
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.
Contacts:
Gary Economo
President and Chief Executive Officer
613-691-1091 ext. 101