TYHEE TO TERMINATE SHAREHOLDER RIGHTS PLAN
VANCOUVER, British Columbia - Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”) announces that the Board of Directors of the Company has determined to proceed with the termination of the Company’s March, 2009 shareholder rights plan (the "Rights Plan") and redeem the rights granted under the Rights Plan (the “Rights”).
The Rights Plan was originally adopted in the spring of 2009 in response to general market weakness which persisted in the wake of the fall, 2008 financial crisis. The Rights Plan was implemented to protect the Company from the risk of a hostile take-over or change in the respective ownership of the current shareholder base of the Company during the financial market crisis. The Board of Directors has determined that this concern is no longer prevalent; and believes it is in the best interests of the Company to terminate the Rights Plan and redeem the rights issued thereunder.
The Company has called a special meeting of its shareholders to approve the redemption of the Rights and the termination of the Rights Plan, to be held on August 17, 2011. The termination of the Rights Plan will occur on August 17, 2011, subject to the prior approval of the Shareholders of the Company.
Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”. For additional information, please browse our website.
For further information, please contact:
President and CEO
Envoy Strategic Partners
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This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to proposed or anticipated work programs and anticipated timing of permit applications. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Factors which may lead the company to not proceed with anticipated work programs, construction or development projects and studies, to delay permit applications or delay the delivery of the feasibility study include factors such as analysis of the exploration results may lead to a determination that further exploration or development is not warranted, additional information requirements necessary to complete permit applications and the feasibility study may be delayed by weather and other constraints, insufficient funding, delays as a result of early or late onset of winter conditions, availability of personnel and equipment to conduct work programs, permit reviews, information requests and other factors not within the Company’s control. The factors identified above are not intended to represent a complete list of the factors that could affect the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forwardlooking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update forward-looking statements, except where required by law. Readers should not place undue reliance on forward-looking statements.