April 16, 2018 ~ Maritime Resources today released a statement that the company is advising its shareholders to do nothing regarding Anaconda’s recent shares offer.
Anaconda Mining announced on April 13th that it has made a formal offer to acquire all of the issued and outstanding common shares of Maritime Resources. If successful, this would lead to Anaconda taking over Maritime, along with the Hammerdown mine near King’s Point which Maritime has been working towards reopening.
Anaconda sent an offer to Maritime’s Board in January but, unhappy with a lack of response, they sent an offer on to Maritime’s shareholders.
Today Maritime said that there is no need for its shareholders to take any action yet regarding Anaconda’s offer.
A news release from Maritime Resources stated that, after Anaconda’s initial offer was submitted to Maritime on January 29th, Maritime retained legal counsel and financial advisors. It stated Maritime’s Board of Directors, and advisors, will “thoroughly evaluate Anaconda’s offer as well as consider and evaluate other strategic alternatives that may become available to Maritime to maximize shareholder value.”
And they say, as required by securities laws, Maritime’s Board will write a ‘directors’ circular’ which will have “important information for shareholders, including the Board’s recommendation regarding the offer.”