2012-12-14 16:32:11 -
CALGARY, ALBERTA -- (Marketwire) -- 12/14/12 -- Americas Petrogas (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to announce that at its Annual and Special Meeting (the "Meeting") of shareholders on December 13, 2012, shareholders of the Company ratified and approved an Amended and Restated Shareholder Rights Plan (the "Rights Plan") which amends and restates the original Shareholder Rights Plan dated April 29, 2009 between the Company and Computershare Trust Company of Canada.
The Rights Plan is designed to ensure the fair and equal treatment of shareholders in connection with any take-over bid for outstanding common shares of Americas Petrogas. The Rights Plan is not intended to prevent or deter take-over bids that offer fair treatment and value to shareholders, but is designed to encourage offers that represent fair value to all shareholders. The Rights Plan seeks to provide shareholders with adequate time to properly assess a take-over bid without undue pressure. It also provides the Board of Directors with adequate time to fully assess an unsolicited take-over bid, to allow competing bids to emerge, and, if applicable, to explore other alternatives to a take-over bid to maximize shareholder value. The Rights Plan is not being adopted in response to any proposal to acquire control of the Company and the Company is not aware of any such efforts at this time.
The Rights Plan has been approved by the Board of Directors of the Corporation and will be in effect for three years. The Rights Plan is subject to the final approval by the TSX Venture Exchange. Shareholders may access the Company's Rights Plan through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. Reference should be made to the full text of the Rights Plan for the details of its provisions.
About Americas Petrogas Inc.
Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional (shale and tight sands) oil and gas interests in numerous blocks in the Neuquen Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil, Apache and Gran Tierra Energy, on various blocks in Argentina. For more information about Americas Petrogas, please visit www.americaspetrogas.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Americas Petrogas Inc.
Barclay Hambrook, P. Eng., MBA
President and CEO
(403) 685-1888 email@example.com