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Daily Metal Prices & Market News
Saturday 11th of February 2012
Thursday, May 29, 2008

Khan Resources reaffirms offer for Western Prospector Group

Khan Resources reaffirms offer for Western Prospector Group

Khan Resources Inc. has responded to the Directors’ Circular issued by Western Prospector Group Ltd. on May 27, 2008 which recommended rejection of the offer to purchase 100% of the common shares of Western Prospector by Khan Resources.

Highlights

- Khan Resources reaffirms its Offer to purchase 100% of the common shares of Western Prospector for 0.685 of a Khan Resources common share for each common share of Western Prospector

- The Offer expires at 8:00 p.m. (Toronto time) on June 20, 2008, unless extended or withdrawn

- Terms of the Offer remain unchanged

- The Offer represents a premium of 34% based on the 20 day volume weighted average trading prices of Khan Resources and Western Prospector prior to announcement of Khan Resources’ Offer

CEO of Khan Resources, Martin Quick, commented, having reviewed the Western Prospector Directors’ Circular and listened to the Western Prospector conference call yesterday we did not see any information concerning Western Prospector that is not already publicly known and reflected in Western Prospector’s share price.

There is nothing in the directors’ response that would lead us to reconsider the pricing of our Offer. Khan Resources continues to believe that the Offer represents full and fair value, providing a significant premium and substantial value to Western Prospector shareholders. We are confident of the success of our bid, concluded Mr. Quick.

 


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