Supatcha Acknowledges Unsolicited Bid Supatcha Resources Inc. (OTCBB:SAEI)Intraday Stock Chart Today : Friday 10 December 2010 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.
In addition, Supatcha is preparing a series of updates that will be released in the coming weeks as part of its Investor Awareness Program. Updates on the company via news releases, the website, newsletter programs and conference calls will facilitate timely updates to current and potential investors. Investors are encouraged to sign onto the company site and register for the newsletter mailing list, to be included in this program.
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
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