Supatcha Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") acknowledges the announcement today by OXM Group (OXM) of its intention to proceed with an unsolicited bid for all of the issued and outstanding shares of Supatcha at a price of $1.75 per share.
The Board of Supatcha has commenced the process of engaging advisors to assist it in responding to this bid. The Board will make every effort to maximize value for the benefit of Supatcha's shareholders and will update its shareholders from time to time as this development progresses. Shareholders do not need to take any action in response to this bid at this time.
OXM is controlled by investor Mikhail Prokorov, the 5th-richest person in Russia. Mr. Prokorov helped Supatcha acquire the rights to develop two resource-rich mineral properties in the Ukraine earlier this year
1) The proper spelling of his name is Mikhail Prokhorov (with an H) not Mikhail Prokorov
2) The proper name of his company is Onexim Group not OXM Group
2) And he is the 2nd richest man in Russia not the 5th richest man in Russia