Hunt Gold Corporation — Increase in Bid Price
SOURCE:
Hunt Gold Corporation
2008-08-07 12:36:00
Hunt Gold Corporation — Increase in Bid Price
Hunt Gold Corporation — Increase in Bid Price
Company Advises That Bid Price in Hostile Takeover Is to Be Increased
NEW YORK, NY–(EMWNews – August 7, 2008) – Hunt Gold Corporation (
confirm that the Private Equity Group intends to increase its bid price in
order to obtain control of the Company.
The Private Fund has undertaken to advise us late today as to what price
per share they intend to increase their offer from their current bid price
of US$0.025 per share. This will be announced prior to the market open, in
the morning.
The Private Equity Group now holds an amount of 93,150,103,500 shares of
the Company’s stock, amounting to 31.7% of the Company’s Common Stock.
Based upon the non acceptance of the current bid price by a number of
substantial stockholders, The Board of Directors believe that this Private
Equity Group will have to substantially raise their offer price should they
wish to assume control of the Company.
The Private Equity Group has confirmed that they are seeking to acquire all
of the outstanding shares of this Company’s Common Stock; and to then merge
it with another Gold Company already under their control.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the
development and exploration of its Gold properties, namely “Mockingbird,”
“Ambassador,” “Golden Eagle,” “Gladstone Lookout,” “Lady Alde,” “Lookout
Silver,” “Starlight,” “American Flag,” “Venezia,” “Stormcloud,” “Cherry,”
“Buffalo Limecap,” “Red Cloud” and “Federal” interests. The Company is
completing the sale of its “American Molygold” interests.
This release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. “Forward-looking statements”
describe future expectations, plans, results, or strategies and are
generally preceded by words such as “may,” “future,” “plan” or “planned,”
“will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or
“projected.” You are cautioned that such statements are subject to a
multitude of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as
a result of various factors, and other risks identified in a companies’
annual report on Form 10-K or 10-KSB and other filings made by such company
with the SEC.
For further information contact: Hunt Gold Corporation E Mail: Telephone: (954) 840-6956 Contact: Mr. Michael G Saner |
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