Tyhee Gold Corp fka TDC

[gotmilk]

Tyhee Adopts Shareholder Rights Plan

http://tyhee.com/news/documents/090401RightsPlan.pdf

April 1 2009 - VANCOUVER, British Columbia -- Tyhee Development Corp. (TSX Venture, TDC) (the "Company") announces that effective March 31, 2009 the Board of Directors of the Company approved the adoption of a shareholder rights plan (the "Rights Plan"). The Rights Plan has been adopted to ensure the fair treatment of shareholders in connection with any take-over bid for common shares of the Company. The Rights Plan seeks to provide shareholders with adequate time to properly assess a take-over bid without undue pressure. It also provides the Board with more time to fully consider an unsolicited take-over bid and, if applicable, to explore other alternatives to maximize shareholder value. The Rights Plan was not adopted in response to an anticipated takeover bid.


The Rights Plan is similar to the rights plans adopted by other Canadian companies and is intended to prevent any person from acquiring beneficial ownership of more than 20 per cent of the outstanding common shares of the Company unless such acquisition is made pursuant to a "permitted bid". In order for a bid to be a permitted bid, it must: (i) be made to all shareholders by means of a take-over bid circular, (ii) provide that no shares will be taken up until at least 60 days after the commencement of the bid and then only if more than 50 per cent of the shares held by outstanding shareholders have been deposited to the bid, (iii) provide that shares may be deposited to and withdrawn from the bid at any time until such shares are taken up and paid for, and (iv) provide that if more than 50 per cent of the shares are deposited to the bid, the bid will remain open for a further 10 business days so that remaining shareholders may tender their shares. If a takeover bid does not meet the permitted bid requirements, the rights issued under the rights plan entitle shareholders, other than shareholders involved in the takeover bid, to acquire additional shares of the Company at a discounted price.

The Rights Plan became effective on March 31, 2009, subject to the ratification of the Company's shareholders and if ratified will expire after the Company's annual meeting of shareholders in 2012. Ratification will be sought at the Company's annual shareholder meeting to be held May 7, 2009. A copy of the Rights Plan is available on SEDAR.