Commander Confirms Receipt of Unsolicited Takeover Bid by FruchtExpress
Vancouver, March 4, 2024 - Commander Resources Ltd. (TSXV: CMD) ("Commander") has received notice from FruchtExpress Grabher GmbH & Co KG ("FEx"), announcing its intention to commence an all-cash offer to acquire all issued and outstanding shares of Commander for $0.09 per share (the proposed offer). Commander shareholders are advised to take no action in respect of the proposed offer until Commander's board of directors have made a formal recommendation to shareholders.
Commander cautions its shareholders and potential investors that there can be no certainty that the offer will be supported by the board. The board is reviewing the offer and will make its formal recommendation in response to the offer as required by applicable securities laws. Consistent with its responsibilities and duties, the board will evaluate the offer and Commander's options, including continuing to operate the business to drive shareholder value and potentially exploring alternative transactions.
"It is the board's duty to evaluate all valid takeover bids," said Brandon Macdonald, Chairman of Commander. "We will seriously and diligently evaluate the proposed offer once it is received in full and make a recommendation consistent with our mandate to consider all reasonable stakeholder interests and maximize value."
About Commander Resources
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through a combination of partnerships and sole funded exploration. Commander plans to drill our top priority projects as well as advance or partner out the next tier of 100% owned exploration projects. The Company also intends to look outside of our in-house portfolio for special opportunities to increase the company's exposure to premium exploration projects.
On behalf of the Board of Directors
Robert Cameron, P. Geo.
President and CEO
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
info@commanderresources.com
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.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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