Khan Acknowledges ARMZ Intention to Make an Unsolicited Offer

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Khan Acknowledges ARMZ Intention to Make an Unsolicited Offer

Fri, Nov 27, 2009

Uranium Company News

Khan Resources Inc. reorts that it was informed that a Russian state-owned nuclear energy corporation, Atomredmetzoloto JSC , intends to make an unsolicited offer to purchase all of the outstanding common shares of Khan for Cdn.$0.65 per share.

ARMZ has issued a press release which indicates that the offer will be made by way of a take-over bid circular to be mailed to Khan shareholders after a shareholders’ list is received from Khan. ARMZ has not yet made any formal offer and no action is required by Khan shareholders at this time. Until Khan receives the offer and related take-over bid circular and completes its review of the terms and conditions of any such offer, it will not comment on the offer or speculate as to any future course of action it might take. Khan’s Board of Directors will be meeting to consider the unsolicited offer. Shareholders are urged to defer making any decision with respect to the offer until the Khan Board of Directors formally communicates to shareholders its position on any such offer.

For full details of this press release, click this link.

Uranium Investing News researchers discovered Khan Resources’ project described on their website.

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Tags: Atomredmetzoloto JSC, common shares, Khan, Khan Resources Inc., nuclear energy corporation, uranium mines, uranium mining, uranium price, uranium sector

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