Tagish Lake Gold Corp. Responds to Takeover Bid From New Pacific Metals Corp.

- July 6th, 2010

Tagish Lake Gold Corp. (TSX VENTURE:TLG) announced that on the afternoon of Friday, July 2, 2010 the Chairman of New Pacific Metals Corp. hand delivered two letters to the closed offices of Tagish Lake Gold Corp.

Tagish Lake Gold Corp. (TSX VENTURE:TLG) announced that on the afternoon of Friday, July 2, 2010 the Chairman of New Pacific Metals Corp. hand delivered two letters to the closed offices of Tagish Lake Gold Corp.

The press release is quoted as saying:

One letter contained a request for the shareholder list of Tagish Lake Gold Corp., the other letter contained the following: 1) A non-binding expression of interest in Tagish Lake Gold Corp. which expression of interest was stated to be not capable of being accepted by Tagish Lake, 2) An unwarranted attack on the independence of two of the Company’s three independent directors, 3) An ultimatum with a deadline of 5:00 pm July 4th, 2010 to finalize the terms of an agreement. This ultimatum provided Tagish with 48 hours over a week-end in circumstance where there does not appear to be any urgency, 4)An express condition that the expression of interest be kept confidential.

Click here to access the entire press release

Click here to access Tagish Lake Gold Corporate Site

Leave a Reply