Ms. Jennifer North reports
AURIZON PROVIDES UPDATE ON SHAREHOLDER RIGHTS PLAN
Further to the press release of Aurizon Mines Ltd. on Jan. 23, 2013, announcing the adoption of a shareholder rights plan, the Toronto Stock Exchange determined on Jan. 29, 2013, in accordance with its rules, to defer its consideration of the acceptance for filing of the rights plan until the appropriate securities commission has had the opportunity to consider whether it will initiate proceedings under securities laws with respect to the rights plan. The deferral does not affect the operation of the rights plan, which remains effective in accordance with its terms.
The TSX deferral is in accordance with the polices of the TSX, and is typical in situations in which a shareholder rights plan can be perceived to have been adopted in response to a takeover bid that has been made or is contemplated.
As previously disclosed, the rights plan is intended to provide the board of directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if appropriate, to any unsolicited takeover bid, including the hostile takeover bid received from Alamos Gold Inc., and to encourage equal treatment of shareholders in connection with any takeover bid offer. The rights plan is not intended to prevent a takeover of Aurizon or to secure continuance in office of management or the directors.
Aurizon intends to seek shareholder ratification of the rights plan at a special meeting of shareholders to be held on March 7, 2013. A copy of the rights plan was filed on Jan. 23, 2013, under Aurizon's SEDAR profile, on Aurizon's website and as part of Aurizon's registration statement on Form 8-A on the website of the U.S. Securities and Exchange Commission.
We seek Safe Harbor.
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