READ THIS!!!! AND THEn...........
Tell me who the bidding war is going to be with:
Company Confirms That the Bid for the Company Has Gone Hostile
NEW YORK, NY--(MARKET WIRE)--Aug 1, 2008 -- Hunt Gold Corporation (Other OTC:HGLC.PK - News) confirmed this morning that it had received an offer for the Company which was valued at a price per share of US$0.025 per share. There were a number of conditions attached to this Offer and the Board of Directors requires more time before advising stockholders as to whether they can recommend this bid to stockholders.
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The Board of Directors cautioned stockholders that the offer was made by a highly aggressive Private Equity Group which may attempt (and succeed) to purchase large blocks of this Company's stock; thereby giving it control of this Company through the "Back Door." We stated that we were powerless to stop this; should it occur.
We have just been served notice and have been provided with proof that this Private Equity Group has already acquired a block of stock in your Company; amounting to 72,450,080,500 shares of your Company's shares of restricted Common Stock. They paid an amount of US$0.025 per share to acquire these shares. This gives them a 24.6% interest in your Company.
Furthermore they have come to an agreement with Fortress Financial Group, Inc. who has undertaken not to dispose of any its "free trading" shares in your Company; and to co-operate with the Private Equity Group in their takeover bid for this Company. Fortress Financial Group, Inc. served notice to this effect upon your Company at 10h00 EST this morning.
The Private Equity Group, together with Fortress Financial Group, Inc. have now rendered the 51% voting control given to certain Investment Groups null and void and have effectively raised the stakes in what may, or not become a bidding war for this Company; this is entirely dependent upon any other serious offers for your Company.
It seems extremely likely that this Private Equity Group wishes to acquire 100% of the Company, and to then merge it with another Gold Company already under their control.
The Private Equity Group has made it extremely clear that they are going to be hostile going forward, primarily due to your Board not accepting their offer immediately. They are now in the process of approaching other stockholders with the intent of purchasing their shares of the Company's Common Stock. They intend to file a Form 13(d) with the SEC to this effect.
The Board of Directors has been contacted by stockholders who wish to remain as long-term stockholders in this Company, and have no desire to sell their stockholdings at US$0.025 per share to the Private Equity Group. Based upon these facts, the Board urges stockholders to exercise caution in their dealings until such time as we are able to provide them with an accurate valuation of this Company's assets.
