TORONTO, ONTARIO -- (Marketwire) -- 03/29/12 -- Mega Uranium Ltd. (TSX: MGA), ("Mega" or the "Company") announces that its shareholder rights plan (the "Rights Plan"), which has been in effect since April 2006, was reconfirmed by the Company's shareholders at its annual and special meeting held today. In accordance with its terms, the Rights Plan must be reconfirmed by shareholders every three years. No amendments have been made to the Rights Plan since its adoption in 2006.
The Rights Plan is intended to provide Mega's board of directors with adequate time to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge, and to provide Mega's shareholders with adequate time to properly assess a take-over bid without undue pressure.
The Rights Plan will expire at the end of Mega's annual shareholders' meeting in 2015, unless it is reconfirmed by shareholders at that meeting. A copy of the Rights Plan is available to the public for viewing on SEDAR at www.sedar.com under the Company's profile.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada and Cameroon. Further information on Mega can be found on the company's website at www.megauranium.com. Mega Uranium's Ben Lomond and Maureen properties in Queensland, Australia are subject to a state policy which presently prohibits the mining of uranium.
Contacts:
Investor Relations: Mega Uranium Ltd. Richard Patricio EVP, Corporate Affairs (416) 643-7630 info@megauranium.com www.megauranium.com
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TORONTO, ONTARIO -- (Marketwire) -- 03/29/12 -- Mega Uranium Ltd. (TSX: MGA), ("Mega" or the "Company") announces that its shareholder rights plan (the "Rights Plan"), which has been in effect since April 2006, was reconfirmed by the Company's shareholders at its annual and special meeting held today. In accordance with its terms, the Rights Plan must be reconfirmed by shareholders every three years. No amendments have been made to the Rights Plan since its adoption in 2006.
