06:00:45 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Commander Resources Ltd (3)
Symbol CMD
Shares Issued 43,683,241
Close 2024-03-01 C$ 0.055
Market Cap C$ 2,402,578
Recent Sedar Documents

Commander receives nine-cent-per-share takeover bid

2024-03-04 13:05 ET - News Release

Mr. Brandon Macdonald reports

COMMANDER CONFIRMS RECEIPT OF UNSOLICITED TAKEOVER BID BY FRUCHTEXPRESS

Commander Resources Ltd. 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 nine cents 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 Ltd.

Commander Resources is a Canadian-focused exploration company that has leveraged its success in exploration through a combination of partnerships and sole-financed exploration. Commander plans to drill its top-priority projects as well as advance or partner out the next tier of 100-per-cent-owned exploration projects. The company also intends to look outside of its in-house portfolio for special opportunities to increase the company's exposure to premium exploration projects.

We seek Safe Harbor.

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