Canada Carbon informed shareholders that its Board of Directors has unanimously approved the revision of its Shareholder Rights Plan.
Canada Carbon (TSXV:CCB) informed shareholders that its Board of Directors has unanimously approved the revision of its Shareholder Rights Plan which was previously ratified by the shareholders of the company at the June 2014 Annual and Special Meeting of Shareholders.
As quoted in the press release:
Executive Chairman and CEO R. Bruce Duncan said: “The Plan is intended to discourage coercive or unfair take-over bids and to provide the Board with additional options to defend against any unsolicited take-over bid, and to explore and develop, if appropriate, alternatives that enhance Shareholder value and to give Shareholders adequate time to consider any such transaction.”
Mr. Duncan further commented, “Canada Carbon is proud to note that the Miller graphite deposit, formally known as the “Grenville” deposit, has a history of excellence going back to the early 1900s. As an example, the Pittsburgh Press announced on April 5th, 1903, “Graphite from the Grenville deposit was forwarded to the Paris Exposition and to the Glasgow Exposition with the Canadian exhibits. It was promptly awarded the FIRST PRIZE.” This tradition of excellence continues, as evidenced by the March 4th, 2020 LGC Group agreement to develop a nuclear graphite Certified Reference Material, again confirming the purity advantage enjoyed by Canada Carbon’s Miller graphite.”