Matamec Explorations Adopts Shareholders Rights Plan
MONTREAL, QUEBEC -- (Marketwire) -- 05/30/12 -- Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE: MAT)(OTCQX: MHREF) annonces that its directors have approved a shareholders rights plan agreement (the "Rights Plan") dated May 29, 2012 between the Company and Computershare Investor Services Inc. The Rights Plan is effective immediately and is designed to provide the Board of Directors of the Company with more time than otherwise allowed for under existing Canadian legislation to fully consider any unsolicited take-over bid for the Company. It will also allow more time for the Board of Directors to pursue, if appropriate, other alternatives to maximize shareholder value. The shareholders of the Company will be asked to confirm the Rights Plan at the Company's next Annual and Special General Meeting of shareholders, to be held on June 28, 2012. In the event that the Rights Plan is not confirmed by a majority of the votes cast by holders of common shares of the Company who vote in respect of such confirmation, the Rights Plan and all outstanding rights thereunder will terminate.
The Rights Plan has not been adopted in response to, or in anticipation of, any specific effort to acquire control of the Company. The Rights Plan is not aimed at blocking bids, but is designed to ensure that any acquisition for control is made through a public offer to all shareholders and that sufficient time is available to evaluate and respond to any unsolicited offer. The Rights Plan is subject to approval by the TSX Venture Exchange.
About Matamec
Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the Kipawa deposit and exploring more than 35km of strike length in the Kipawa Alkalic Complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property.
The company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Matheson JV property located along strike and in close proximity to the Hoyle Pond Mine in the prolific mining camp of Timmins, Ontario.
In Quebec, the Company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Andre Gauthier
President
(514) 844-5252
(514) 844-0550 (FAX)
info@matamec.com
Caroline Wilson (P.Geo.)
Director of Investor Relations
(647) 938-4080
caroline.wilson@matamec.com
www.matamec.com
