VANCOUVER, BC, Oct. 15, 2021 /CNW/ - Mineral Mountain Resources
Ltd. ("Mineral Mountain" or the "Company") (TSXV:
MMV) (OTCQX: MNRLF) (FRANKFURT: M8M) announces that its Board of
Directors has adopted a shareholder rights plan (the "Shareholder
Rights Plan") to help ensure the fair treatment of all Mineral
Mountain shareholders in connection with any take-over bid for the
outstanding common shares of the Company.
The Shareholder Rights Plan is effective immediately but is
subject to ratification by shareholders of the Company at its 2021
annual general meeting scheduled for December 8, 2021. If ratified, the Shareholder
Rights Plan would have a term of three years.
The Shareholder Rights Plan is similar to rights plans adopted
by other Canadian companies and ratified by their shareholders. It
was not adopted in response to any specific proposal or intention
to acquire control of the Company).
The Board of Directors considered a number of factors in
adopting the Shareholder Rights Plan. The Board of Directors
believes that the Shareholder Rights Plan benefits shareholders by
providing a substantially greater opportunity to protect the
interests of all shareholders in the event that the Company is put
in play through a hostile take-over bid.
The Shareholder Rights Plan is subject to customary stock
exchange approval and execution of a definitive agreement with the
Company's transfer agent. A copy of the Shareholder Rights Plan
will be available once executed with the transfer agent under the
Company's profile on www.sedar.com.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
Baker", President and CEO
Forward looking information
This release includes certain statements that may be deemed
to be "forward-looking information" under Canadian securities laws.
All statements in this release, other than statements of historical
facts, that address events or developments that the Company expects
to occur, constitute forward looking- information. Forward looking
information consists of statements that are not historical facts
and are generally, but not always, identified by the words
"expects", "plans", "could" or "should" occur. Although the Company
believes the expectations expressed in such forward-looking
information are based on reasonable assumptions, such information
does not constitute guarantees of future performance and actual
results may differ materially from those in forward- looking
information. Factors that cause the actual results to differ
materially from those in forward-looking information include gold
prices, results of exploration and development activities,
regulatory changes, defects in title, availability of materials and
equipment, timeliness of government approvals, continued
availability of capital and financing and general economic, market
or business conditions. The Company cautions the foregoing list of
important factors is not exhaustive. Investors and others who base
themselves on the Company's forward-looking information should
carefully consider the above factors as well as the uncertainties
they represent and the risk they entail. The Company believes that
the expectations reflected in the forward-looking information are
reasonable, but no assurance can be given that these expectations
will prove to be correct. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Mineral Mountain Resources Ltd.