Vancouver-Potash One Inc. reports that its board of directors has implemented a Shareholder Rights Plan Agreement. It has been adopted to ensure the fair treatment of all Potash One shareholders in the eventuality of a possible takeover bid for the outstanding common shares of Potash One. In the event that a takeover bid should occur, the Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess the bid without facing undue pressure or coercion. The Rights Plan also provides the board with additional time to consider any takeover bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. As such, the Rights Plan is not designed to prevent takeover bids that treat Potash One shareholders fairly. “This Rights Plan is simply a proactive measure that we believe is appropriate to adopt in light of the increased pace of merger and acquisition activity in the mining industry,” said Paul Matysek, Potash One president and CEO. “We feel this is the prudent thing to do to protect shareholder value while we are embarking on the current growth phase of the company.” Potash One is a Canadian resource company engaged in the identification, acquisition, exploration, and development of advanced solution mine amenable potash properties. The Company owns 100 percent of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan.
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