SAEI PR!!! receives bid $2.50 per share
Supatcha Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") announces today that it has received a second unsolicited bid for 100% of the issued and outstanding shares of the Company at a price of USD$2.50. The unsolicited bid was made by JSC Rustamov Group (JRG) of Moscow, Russia.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Supatcha's Board of Directors will evaluate the unsolicited bid and will prepare and send a directors' circular to shareholders regarding the JRG offer in accordance with applicable securities rules on or before December 15, 2010. Shareholders are advised to take no action until the Board provides a formal response to the unsolicited bid. JRG is an investment firm backed by the several prominent and wealthy Russian families, based in Moscow, Russia.
In addition, the previously announced investor conference call for Monday, December 20, 2010 at 7:00 a.m. Eastern Time remains on schedule. The Company will be discussing its 2010 third quarter operations.
To obtain dial-in information and the passcode for the conference call and the replay contact Michael Berry at Tel: (303) 552.0480 or by e-mail at mberry@supatcharesources.com. The conference call is scheduled to begin promptly at its appointed time, and all participants should be on the line by then.
