Aurico Metal Inc. (AMI)

[NYBob]

AuRico Metals Announces Adoption of Shareholder Rights Plan and Waives Restriction on Alamos Gold from Acquiring Shares
Date : 08/05/2015 @ 5:05PM
Source : PR Newswire (Canada)

Stock : Aurico Gold Inc. Ordinary Shares (AUQ)
Quote : 2.86 0.0 (0.00%) @ 2:05AM

AuRico Metals Announces Adoption of Shareholder Rights Plan and Waives Restriction on Alamos Gold from Acquiring Shares

Aurico Gold (NYSE:AUQ)
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TORONTO, Aug. 5, 2015 /CNW/ - AuRico Metals Inc. (TSX: AMI),("AuRico Metals" or the "Company") today announced that its Board of Directors has approved the adoption of a Shareholder Rights Plan (the "Rights Plan"), effective Wednesday, August 5, 2015 (the "Effective Date").

The purpose of the Rights Plan is to protect shareholders from coercive take-over strategies and to give the Board of Directors adequate time to identify, develop and negotiate alternative strategies in response to any unsolicited take-over bid made for AuRico Metals' common shares without undue pressure. The Rights Plan is intended to prevent the acquisition of more than 20% of the outstanding common shares of AuRico Metals or the entering into of arrangements or relationships that have a similar effect, without the Board of Directors having had the opportunity to review, evaluate and, if appropriate, pursue other alternatives to maximize shareholder value.

Under the terms of the Shareholder Rights Plan, one right has been issued with respect to each common share of AuRico Metals issued and outstanding as of the Effective Date and one right will also be issued with respect to each common share subsequently issued. The Rights Plan is similar to other plans adopted by many Canadian mining companies.

The Shareholder Rights Plan was not adopted in response to any specific proposal or intention to acquire control of AuRico Metals and is not intended to block take-over bids. The Toronto Stock Exchange has accepted notice for filing of the Rights Plan subject to the Rights Plan being ratified by shareholders within six months of the Effective Date.

In connection with the implementation of the Shareholder Rights Plan, AuRico Metals has agreed with Alamos Gold ("Alamos") to waive the restriction on Alamos from acquiring more than 5% of AuRico Metals' shares.

A complete copy of the Shareholder Rights Plan will be available on SEDAR at www.sedar.com.

About AuRico Metals

AuRico Metals is a mining royalty and development company whose cornerstone assets include a 1.5% NSR on the Young-Davidson Gold Mine, located in Ontario, Canada, a 2% NSR on the Fosterville Mine, located in Victoria, Australia, and 100% ownership of the advanced Kemess gold-copper Project in British Columbia, Canada. AuRico Metals' goal is to deliver sustained value creation for the company's many stakeholders. AuRico Metals' head office is located in Toronto, Ontario, Canada.

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